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In today’s article we are going to talk about how to inherit a bank account in Spain. Certainly, Spanish banks require from the heirs things that might not be legal. For example: more documentation than necessary; payment of additional costs, etc.<\/p>\n\n\n\n
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It is very common for banks to take a long time to release inheritance funds. And this, even if the heirs have complied with the legal requirements.<\/p>\n\n\n\n
Legally, although there is no specific deadline. The Bank of Spain says that banks must act with the utmost diligence. In the fulfillment of the inheritance process formalities. And, in progressing the probate process.<\/p>\n\n\n\n
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We must distinguish between two types of proceedings and documents.<\/p>\n\n\n\n
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When we are going to process an inheritance, both for the adjudication (distribution of assets); As for the payment of the tax, we need to know the balances of the deceased in the bank. To do this, you must request a certificate of position on the date of death. To confirm the value of the rights at this time; the contracted products; number of holders, etc.<\/p>\n\n\n\n
The bank should NOT charge for this certificate. It must be free.<\/strong><\/p>\n\n\n\n Thus, it is deduced from the website of the bank of Spain, and the Order EHA \/ 2899\/2011 and its section on customer communications. It points out that banks must provide the heirs with the patrimonial situation of the deceased on the date of death.<\/p>\n\n\n\n <\/p>\n\n\n\n Due to the process of dealing with the inheritance, the bank of Spain says that it is possible to charge a commission by the bank. But, this will depend on whether the bank advises the heirs, on the documentation to present, paperwork, etc.<\/p>\n\n\n\n But, if the documentation is presented correctly and completed by the client; directly or by his lawyers; we understand that you should not charge this commission. Because, the bank only check it.<\/p>\n\n\n\n Charging this commission is only justified if the bank does advisory work, similar to an external professional.<\/p>\n\n\n\n <\/p>\n\n\n\n NO<\/strong>. Although many banks do so. The beneficiary of the inheritance deny doing it.<\/p>\n\n\n\n As the Bank of Spain says, the bank must offer a free means of payment of money to the heirs.<\/p>\n\n\n\n The heir cannot be forced to open an account. Not even if it’s free.<\/p>\n\n\n\n Different question is that in practice it may be convenient.<\/p>\n\n\n\n <\/p>\n\n\n\n We will talk about this subject in the future, with other matters related to the inheritance of accounts and bank products.\u00a0 But, it must be known that not everything requested by banks is legal. If you want to inherit in Spain <\/a> and be represented by expert lawyers. If you want your rights to be respected, contact us.<\/a><\/u><\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n 2. Commission for the processing of inheritance<\/u><\/strong><\/h2>\n\n\n\n
Can the bank demand the opening of a new checking account in the name of the heirs to collect the inheritance?<\/u><\/strong><\/h2>\n\n\n\n
Conclusion on how to inherit a bank account in Spain<\/u><\/strong><\/h2>\n\n\n\n