What is a bank account

What is a Bank Account?

A bank account is a financial contract between a customer and an entity (such as ABANCA) that serves as a platform to deposit, safeguard, and manage your money. It is the essential tool for financial inclusion, enabling everything from receiving salaries to paying for services and accessing digital payment methods like Bizum or cards.

What is a bank account for?

An account at ABANCA serves as the hub for your daily money management. Its functions are divided into three strategic pillars:

Operational Management and Automation: enables immediate cash deposits and the direct debit of recurring payments, saving time on manual tasks.
Security and Real-Time Control: allows you to monitor balances and transactions 24/7 from mobile banking. In our experience, this makes it easier to detect fraud early through instant notifications.
Financial Connectivity: provides the necessary support to link debit or credit cards and is the prerequisite for contracting other investment or financing products.

Operating Guide

Opening a bank account is now a fast process that combines security and digital convenience.

How to open a bank account online? (Step by step)

Thanks to technology, you can complete the online registration at ABANCA in less than 10 minutes:

Identification: Real-time identity verification via video selfie and capture of your DNI or NIE.
Personal Data: Fill out the form with your contact details and current occupation.
Video Identification: Real-time identity verification via video selfie.
Electronic Signature: Sign your contract in collaboration with a trusted third-party entity that will verify the signature.
Review and Activation: Your IBAN will be operational after the final validation of all data (24-48h).

Essential Requirements

Age: Must be over 18 years old.
Residence: Must have tax residence in Spain.
Documentation: Valid DNI, NIE, or passport and information about your current occupation.

The engine of your economy

Once activated, your account centralizes financial management:

Automation: Direct debit payments so you don’t have to worry about payment dates.
Mobility: Integration with Bizum, Apple Pay, and Google Pay.
Active Security: Card management ("turn on/off") from the App.

Having an account at ABANCA is the foundation of your financial management. Its benefits are summarized in four key pillars:

Peace of Mind: Your capital is legally backed by the Deposit Guarantee Fund (up to €100,000 per holder). Depositing your money in an account eliminates the physical risks of loss or theft associated with cash.
Efficient Management: Control your finances by receiving salaries or pensions directly and setting up direct debits for bills (electricity, water, internet) to avoid unexpected issues.
Control and Traceability: Thanks to Mobile Banking, you can check transactions in real time, categorize expenses, and manage shared funds (multiple holders) for family or joint savings.
Access to other products: You will be able to access other products such as personal loans, mortgages, and investments.

Benefits at a glance: Security, operability with Bizum, omnichannel management (App, web, and branches), and total control 24 hours a day.

Types of bank accounts

Not all accounts serve the same purpose. Choosing the right one depends on how you use your money: whether you need it for daily transactions, saving for the future, or managing a business. At ABANCA, we design each option to fit a different stage of life.

Daily Management: Payroll Account

The current account is the support for your "on-demand" money, that is, your day-to-day funds. At ABANCA, we have evolved this concept into the Online Payroll Account, eliminating bureaucracy and costs.

Online Payroll Account: designed for those who operate 100% online. No maintenance or administration fees.
- Key advantage: includes a free debit card and non-urgent SEPA transfers within the eurozone at no cost through digital channels.
- Incentives: access to cash promotions when you direct deposit your income

Más información

Savings and Profitability: Interest-Bearing Accounts

For those who want their money to work without losing access to it, ABANCA offers products that combine savings and daily operations.

Interest-Bearing Account: unlike a fixed-term deposit, here you can access your money.
- Full liquidity: you can withdraw money or use it via Bizum at any time.
- Profitability: 2% APR remuneration on your balance during the first year, if you direct deposit your salary over €1,200 or your social security contributions of €50/month.
Savings Account: ideal for building an emergency fund separate from your regular expenses, with €0 maintenance fees if you meet the requirements of the ABANCA Services Program. You can check the Program on our website to review the requirements you need to meet.

View Remunerated Account

Solutions for Youth and Children

We promote financial health from the earliest stages of life with tools tailored to each age group. - Netclub Account (0-15 years): An educational savings account that rewards consistency.

- Netclub Points: Savings are converted into points redeemable for gifts from the children's catalog.

Youth Account (18-34 years): Designed for digital natives who travel and need flexibility.
- Travel without limits: Allows free cash withdrawals at foreign ATMs (up to 5 withdrawals per month at no cost).
- Biometric sign-up: Open your account in 10 minutes with a video selfie.

Clara Youth Account Cuenta Netclub

Account for Freelancers and Professionals

We understand the challenges of self-employed workers, which is why we offer an account tailored to your needs.

Clara Account for Freelancers: separate your personal and professional finances with direct economic benefits.
- €500 incentive: when you direct debit your social security contributions (>€50/month) with a 24-month commitment. Exclusive offer for new customers who have not had their salary, pension, or social security direct debited in the last 12 months at ABANCA.
- Tools: POS terminal with reduced fees (0.20%) and free credit cards for the first year.

More information

Comparison between types of current accounts:

Product	Recommended Profile / Use	Main Advantages	Limitations	Key Requirements	More Information
Commission-Free Online Salary Account	Workers and pensioners with recurring income.	Cash incentive of up to €500 and free cards.	Requires a 24-month commitment period.	Salary >€1,200 and 100% digital management.	More information about the Online Salary Account
Commission-Free Interest-Bearing Account	Savers looking for profitability and liquidity.	2% APR for the first year and monthly interest settlement.	Profitability requires direct-debiting a salary.	Digital profile and being a current account holder.	More about the Interest-Bearing Account
Youth Account with Salary	Young adults (18-34 years old) with their first job.	NX Card (5 free withdrawals worldwide) and a salary incentive of up to €500.	Age limit up to 34 years old.	Age between 18-34 years and direct-debit salary.	Youth Salary Account
Online Youth Account without Salary	Students or young people without a fixed income.	Fee-free, Bizum, and free NX card to travel without currency exchange costs.	Does not allow access to cash salary incentives.	Age between 18-34 years and use of digital channels.	Youth Account without Salary
Account for the Self-Employed	Freelancers and entrepreneurs.	€500 incentive for direct-debiting the self-employed social security contribution.	Operations highly focused on business.	Direct-debit the self-employed contribution with the bank	Más información Cuenta Autónomos
Netclub Children's Account	Children and teenagers (0-15 years old).	Catalogue of gifts for savings and early financial education.	Limited operations (overdrafts and investments are not permitted).	Legal representative as guardian and age <15 years.	Netclub Children's Account
Basic Payment Account	Users who meet the legal requirements to open it.	Access to basic services (deposits, withdrawals, payments).	Does not offer incentives, interest, or credit cards.	Meet legal access requirements.	More information about the Basic Account

Advantages of bank accounts

Keeping your money in a bank account is not just a matter of safekeeping; it’s the tool that allows you to use digital channels, save your money, and plan your future with professional tools.

Security and protection of your money:

At ABANCA, we dedicate significant efforts to protect your capital and your data, with state-of-the-art protocols and strict regulatory compliance:

Strong Customer Authentication (SCA): we implement multi-factor identification. To operate, we combine your password with biometrics (facial or fingerprint) or one-time codes sent to your mobile.
Bank-Grade Encryption: we use high-security protocols so that the information between your device and our servers remains private and unreadable to third parties.
Deposit Guarantee Fund Protection: as a participating institution, your savings are legally guaranteed up to a maximum of €100,000 per depositor, offering full coverage in case of insolvency.
Active Security from the App: with Llave ABANCA we reduce the risk of phishing. You can instantly "turn on" or "turn off" your cards and receive real-time notifications of every transaction for absolute control against fraud.

Check our security and privacy policy

Greater financial control:

Your ABANCA account offers you advanced tools for precise financial planning:

Digital financial health:
- Automatic categorization: classifies your purchases (leisure, home, bills) to identify where you can save.
- Real-time balance: Shows you the available balance, once pending expenses are deducted, so you know exactly how much money you have.
- Bill forecast: receive alerts for upcoming charges to avoid overdrafts and organize your expenses.
24/7 Omnichannel Management: you choose how and when to operate with maximum security:
- ABANCA App: For immediate daily operations (Bizum, transfers, and alerts).
- Online Banking: Manage from online.abanca.comYou will be redirected to another website.
- Telephone Banking: Personalized assistance and support at 900 815 522.

Access to digital payments and services:

Forget cash and manage your payments instantly with total convenience and security:

Mobile payments and Bizum: send or receive money instantly using just a phone number. Link your cards to Apple Pay or Google Pay to pay in stores with your mobile or smartwatch.
Bill management: Direct debit automates your electricity, water, or internet bills, avoiding service interruptions due to forgetfulness or late payment fees.
SEPA transfers: send money nationally and internationally (within the EU) in euros quickly and securely from the ABANCA App.
Secure e-commerce: shop online with the peace of mind of double authentication and total control over your card limits from your mobile device.

Building a credit profile:

An account doesn’t just hold your money; it builds your reputation with the financial system through the following pillars:

Proof of solvency: the recurring deposit of your salary or self-employed income allows you to show your real economic capacity.
Responsible payment habits: the recurring payment of direct debits reflects control over your finances, a key factor that ABANCA uses for risk analysis in future applications for other products or services.
Access to financing: a good credit profile is the key to applying for personal loans or your future mortgage.