CaixaBank is to enable residents of 15 European countries to sign up to HolaBank via digital onboarding. That means that non-Spanish residents will be able to use the bank’s online and mobile banking services.
Moreover, CaixaBank will give potential customers a yes or no on the account opening request inside 48 hours.
CaixaBank has around 450,000 customers from 15 Western European countries, representing a market share of over 33%.
The service is mainly intended for Western European citizens with interests or property in Spain. They can now complete the account opening process in English through the bank’s fully secured website in six steps.
With a video identification system and the signing of the contract carried out through SMS, new customers can have an HolaBank account up and running within 48 hours.
In addition, they can sign up to CaixaBankNow online banking, where they can access all the benefits of the specific programme for the international community digitally, as well as its financial and non-financial services.
Product features include the ability to receive transfers from abroad, make transfers within Spain, pay bills by direct debit, translate documents, and gain assistance with moving house or relocating.
Once the online process is completed, new clients will have to confirm their identity in a physical branch within three months.
MortgageNow: online mortgage application for non-residents
The new digital on-boarding comes in addition to MortgageNow, a digital mortgage application service for non-residents in Spain and international real estate brokers, and a pioneering service in the country. This service allows potential international buyers of property in Spain to apply for a mortgage from their country, in a fully secure way and with a feasibility response in 48 hours.
The platform includes the lists of documentation customised by country and the type of occupation in the customer’s language and enables the registration of the documentation required to carry out the mortgage study, with no need to translate it into Spanish.
In addition, there is a private space for real-estate brokers who can manage all their applications with the guarantee of a fast feasibility response.
Non-Spanish residents: 12.5% of all property purchases
Digital onboarding and MortgageNow is available for people living in Germany, Austria, Belgium, Denmark, Italy, Luxembourg, Norway, Netherlands, Finland, France, Ireland, Portugal, Sweden, Switzerland and the UK.
In Spain, more than 62,000 property purchase agreement operations were carried out by non-residents in 2019, according to data from the Spanish Land Registry. This represents 12.5% of the national total, with major importance on the Mediterranean coast and islands.