Spain's bank access improves; irregular immigrants face exclusion
The Banco de España's 2025 Financial Inclusion Report confirms improved in-person access to banking services across Spain, particularly in rural areas. However, it highlights significant financial exclusion risks for irregular immigrants.
Mobile offices bridge rural gaps
Between 2021 and 2024, in-person access to financial services in Spain significantly improved, especially in rural areas, despite ongoing closures of traditional branches and ATMs.
The Banco de España's 2025 Financial Inclusion Report, presented by Deputy Governor Soledad Núñez, notes that 608 municipalities, mostly with fewer than 500 inhabitants, gained access to in-person banking services.
This was largely driven by the deployment of 712 mobile offices, or 'ofibuses,' and 175 new fixed ATMs, leading to a 55% increase in access points in these small municipalities.
By the end of 2024, the number of municipalities without in-person access fell by 18.7% from 2021, to 2,638 (32.4% of the total).
The population without access decreased by a third, now below half a million, representing 0.9% of the total Spanish population.
While the total number of access points slightly decreased by 2.5% to 67,166 due to closures, the addition of 1,166 mobile units partially offset this trend.
Andalucía leads with 11,296 access points, while Madrid and Murcia ensure coverage in all municipalities.
Exclusion's hidden face
While financial inclusion for regular immigrants shows no substantial differences compared to native populations, a significant problem persists for irregular immigrants.
The report reveals a very low number of basic payment accounts among this group, with only one account for every eight irregular immigrants.
Key difficulties include a lack of information, limited product offerings, and stringent anti-money laundering regulations.
The Banco de España emphasizes that basic payment accounts are not fully serving their intended function as a tool for financial inclusion for this vulnerable group.
To mitigate this risk, the central bank advocates for enhanced financial education, simplified access to these accounts, and adapting banking products and practices to better manage regulatory risks.
It also points to improvements in the regulatory framework, such as the draft bill for the Financial Customer Defense Authority.
A tale of two Spains
The report paints a nuanced picture of financial inclusion in Spain, celebrating progress in rural areas while exposing a critical gap for irregular immigrants.
The disparity underscores the need for targeted policy interventions beyond general accessibility measures, particularly in streamlining basic banking access.
Without addressing these specific barriers, a significant segment of the population will remain marginalized from essential financial services.