Show/Hide legal textThis new service is regulated by Royal Decree Law 19/2017 of 24 November on "Transfer of Payment Accounts", implemented through Ministerial Order ECE/228/2019, of 28 February of the Ministry of Economy and Business on basic payment accounts, payment account procedures and comparison website requirements.
Some tips and things to bear in mind
In certain cases, only the holder can notify a change of account to the issuer – for instance, the tax agency, town councils and regional governments. You'll need to bear this in mind when you tell us which direct debits to authorise.
Besides, town councils won't accept account changes for tax direct debits during the two months prior to the voluntary payment period or during the payment itself.
If you transfer your payroll, you'll have to notify your company's human resources department of your new account details. We've provided a sample letter below to make this easy for you.
3. Transfer of Pensions
When a pension is transferred between direct debits, it may take between 1 and 2 months depending on the day of the month that you request it, so we recommend that on the date you request the account transfer you put 2 months.
4. Don't forget the balance!
Remember to pay some funds into your new account and maintain a sufficient balance in your old one to cover the obligations until the account transfer has been completed.
5. Additional details
To comply with regulations, there may be times when we need to ask you for additional information. For example, in the case of residents' associations, we'll ask you for the name and phone number of the property administrator.
6. Choose the transfer date carefully
Make sure that the date for the complete transfer of your account leaves enough time to cover the payment obligations and regular deposits in progress. Remember, the date must fall at least 13 business days after the date on which you submit your application, signed by all the account holders.
Prefer to do it yourself?
If you prefer to be the one to send the details of your new account to the issuers of your incoming transfers and direct debits, we provide two sample letters to make it easier for you. In the case of your social security payments, you also have the forms demanded by that authority.