Thousands of Spanish bank accounts, mostly owned by non residents, have been blocked (or “frozen”), in some cases without previous notice, since Spanish banks started to apply the law of Prevention of Money Laundering and terrorist financing .
Another reason why your bank can block your account, is the lack of response to the request of providing evidence of your status as a non-resident in Spain. This is according to the Order HAP/2487/2014 of 29th of December of the Spanish Ministry of Finance, that states that the tax residence declaration (TRD) accredits the non-resident status of natural persons, in order to avoid tax withholding on interests earned (although it is very unlikely to receive interests on current accounts in Spain!)
Sometimes, the account holder only realises there is a problem after noticing that some bills have not been paid by the bank, even having sufficient funds. Unfortunately for some, they find out too late having had their electricity disconnected already and are then left with an even bigger problem!
The main consequence of this blocking is that any bank transfer that you send to the frozen account, will not be credited, and even worse, it will not be returned to the sender, but kept in a special account of the bank, until the situation of the account is resolved. This will eventually create an overdraft on the account, which leads to the non-payment of your utility bills and anything that you pay by direct debit in that account.
If you have not experienced any problems with your Spanish bank account yet, it is strongly advisable to contact your branch to make sure that they have all that they need for you.
In case your account has been blocked, and depending on the reason that has lead the bank to take such a decision, you will need to provide the bank with several documents that can vary depending on each bank, but in general, they tend to ask for:
- Passport. Some banks demand to see the original or a certified copy.
- NIE certificate.
- Statement of Economic Activity.
- Your Fiscal or Social Security number in your country of residence. (TIN number, etc.)
- Tax Residence Declaration (TRD)
Ideally, you should visit your bank to provide the above documents and sign some forms. However if you live abroad, you can’t fly to Spain in the near future, and your bank doesn’t allow that you send the documents by post, we can help you.
We Can Help
We can visit your branch, or another branch of your bank, and provide all the documentation and information requested. For this purpose, we will need a Power of Attorney. We can help you to organise the execution of this P.O.A. in a local notary of your choice.
If you need our help regarding any problems you may have with your Spanish bank accounts, please get in touch as soon as possible. You can use the following form to contact us: