Posts Tagged ‘bank account#8217;


Please be advised that due to new banking regulations at one of our partner organizations – Bankia – IE Financial Aid is only able to open bank accounts for IE students ahead of their arrival when the account is opened with Banca March or Banco Sabadell.  Please keep this in mind when requesting we open an account for you ahead of your arrival.

To open a bank account, as a confirmed student at IE, please contact Irina Deneanu at  Keep in mind you must have paid your place reservation and signed your admissions contract in order for us to open a bank account for you ahead of your arrival.


While IE maintains various agreements with banks in Spain, if you wish tu have us open a bank account for you ahead of  your arrival, then you should request a bank account with Banca March.  A private bank with headquarters in Mallorca, Banca March offers premium service in both English and Spanish.  By opening an account ahead of your arrival, you will be able to send yourself funds from your home country so they’re here and ready for use as soon as your plane touches down at Barajas International.

Please note we are not able to open bank accounts with savings bank Caja Madrid before you are physically in Spain due to Bank of Spain (Spain’s Central Bank) regulations.


Help, my bank account has been frozen!

Written on February 24, 2011 by Joël McConnell in Bank Accounts | Cuentas bancarias

If your Caja Madrid bank account has been temporarily frozen because you still have not provided your NIE number, then ask the branch about the prepaid debit card option as a bridge solution.  We understand that you are not able to do anything but wait until your appointment with the government offices that issue the NIE, however Bank of Spain regulations are very strict on the requirement of having a NIE number for all account holders at Spanish financial institutions.  For more information, please contact Financial Aid at

Si su cuenta bancaria de Caja Madrid ha sido temporalmente bloqueada porque todavía no ha facilitado su número de NIE, por favor pida su tarjeta de débito de prepago como solución alternativa. Entendemos que no puede hacer otra cosa que esperar hasta la cita con las oficinas de gobierno que emitan el NIE, pero las normativas del Banco de España son muy estrictas y exigen tener un NIE para todos los titulares de cuentas en entidades financieras españolas. Para obtener más información, póngase en contacto con Ayuda Financiera a


Banking Services available through Caja Madrid

Written on May 6, 2010 by Joël McConnell in Uncategorized

Caja Madrid offers a full lign-up of banking services for students, learn more about what they have to offer by downloading the brochure here.

IE, working closely with Spain’s second largest credit union – Caja Madrid, ensures that you can open an account ahead of your arrival so that you have one less thing to worry about.  Once you are a client of Caja Madrid, you’ll have access to a full line of services specifically geared towards IE students.


IE Financial Aid helps students by ensuring they have a bank account ready for use as soon as they get to Madrid, and now we’ve expanded the options for IE students.  Below you will find links to the full information regarding the bank accounts available through our financial partner Banca March.

Banca March Student Account (Click here for English document)
Banca March Student Account (Click here for Spanish document)

To open an account, simply fill in and send us the account application form (download it here), send us a copy of the photo page in your passport and a copy of your Admissions letter.


Soon we’ll have additional and more detailed information available on the new account option from Banca March, however in the mean time, if you would rather have and account with Banca March, send us the following:

1) Copy of your Admissions Letter to an IE program.
2) Copy of the passport page where your photo and signature appear, if the photo and signature appear on separate pages, we’ll need copies of both pages.
3) The completed application form which you can download here.

How Do the Caja Madrid and Banca March Options Compare?

  • Customer Service: both offer service in English and Spanish, both institutions are part of national ATM networks (Caja Madrid is a member of ServiRed and Banca March of 4B), both have online access and both allow for sending funds to yourself before you arrive to Madrid.  ServiRed is anchored by BBVA and 4B by Banco Santander, and both have expansive national networks.  IE Financial Aid can open an account at either bank for you ahead of your arrival to Madrid.
  • Account Fees: very similar, competitive with market.
  • Services: Both offer full services for IE students, including facilitation of Avals (bank guarantees sometime required by landlords).

For more information, contact IE Financial Aid at


Caja Madrid Prepaid Debit Card

– €12 annual fee
– Key features and benefits:

  • Limit your payments and avoid fraudulent use of your card.
  • Buy online or in any shop that accepts “Visa electron” with a prepaid limit that you will have already transferred to the card.
  • Withdraw money from any Caja Madrid ATM/Cash Point with a prepaid limit that you will have already transferred to the card.
  • Add prepaid credit on to your mobile phone.
  • You can add credit to your card at any ATM/Cash Point and Caja Madrid offices by cash or debit transfers to your account.
  • In case of theft or loss of your card, you can retransfer the outstanding balance of your card back to your current account.

Tarjeta Prepago Caja Madrid

– 12€ cuota anual
– Características y beneficios :

  • Limitar pagos y evitar fraudes con su tarjeta
  • Comprar online o en cualquier comercio que acepten Visa electrón con el límite del saldo precargado.
  • Disponer de efectivo en cualquier Cajero Automático con el límite del saldo precargado.
    o recargar el teléfono móvil.
  • La tarjeta se puede recargar en Cajeros Automáticos y Oficinas de Caja Madrid en dinero en efectivo o contra su cuenta.
  • En caso de robo o pérdida de su tarjeta, puede descargar el saldo de la tarjeta a su cuenta.

To receive your correspondence (monthly statements, transaction receipt, etc) online:

  1.  Follow steps 1 to 5 to login.
  2. Click “13 CORRESPONDENCE” on the left.
  3. Click  “aquí”
  4. Click “alta servicio” on the left.
  5. In the “Nº Tarjeta”  field, enter you debit card number (16 digits)
  6. In the “DNI” field, enter you passport/NIE or ID number (without letters)
  7. In the “Clave” field, enter your debit card PIN.
  8. Click  “>Aceptar”
  9. Click  “>Imprimir” or “>Guardar” at the bottom of the page
  10. Click  “>Aceptar” at the bottom of the same page
  11. Uncheck the box if you do not wish to receive information about new Caja Madrid products.
  12. Click  “>Aceptar”
  13. On the next screen click  “>Aceptar”
  14. Click “>Mi buzón” in the left to see your correspondence.

Para recibir correspondencia por Internet:

  1. Siga los pasos del 1 al 5 para entrar.
  2. Haga clic en “13 CORRESPONDENCIA” en la parte izquierda
  3. Haga clic en palabra “aquí”
  4. Haga clic en “alta servicio” en la parte izquierda.
  5. En “Nº Tarjeta” teclee el número de su tarjeta de débito (16 dígitos)
  6. En “DNI”: teclee su número de pasaporte/NIE o DNI (sin letras)
  7. En “Clave” teclee su número PIN de su tarjeta de débito.
  8. Haga clic en “>Aceptar”
  9. Al final de la página haga clic en “>Imprimir” o “>Guardar”
  10. Al final de la misma página haga clic en “>Aceptar”
  11. Quite el visé si no quiere recibir información sobre nuevos productos de Caja Madrid.
  12. Haga clic en “>Aceptar”
  13. En la siguiente pantalla haga clic en “>Aceptar”
  14. Haga clic en “>Mi buzón” en la parte derecha para ver su correspondencia.

Please take the following into consideration if you are going to be requesting that we open a bank account for you ahead of your arrival, so that you can take care of living, tuition and other expenses:

  1. If you have a Spanish passport (dual-nationality) then you will also need to provide either a copy of your DNI/NIE card or a letter from your local Spanish Embassy specifying that you live and work outside of Spain, and therefore do not pay taxes in Spain.
  2. As an alternative, use your other passport as proof that you are a national of another country where you are presumably a tax paying national.

In either case, for Financial Aid to open your Caja Madrid bank account ahead of arrival to Madrid, we need you to send a copy of the photo page of your passport and a copy of your admissions letter.

Non-Spanish nationals who have 1 or more nationalities which are not Spanish do not need to worry about this post, as any of your passports will suffice.

The special restriction for students with Spanish dual-nationality is due to taxation laws in Spain.


As an IE student with a Caja Madrid account, you now have access an sms alert service that allows you to know when a charge is made to your debit or credit card, and when funds are withdrawn from your account. 

While the terms are listed below, the main value for you is peace of mind: if you are worried that someone may make an unauthorized charge to your account, or want to be sure that if for some reason you lose your card (or in the case of theft) that you are aware of transactions being made in your name, this service allows you to keep tabs on your Caja Madrid bank account.

What’s more: you can set up the alert service so that you are notified of other transactions as well such a bill payments, alerts when your bank account balance reaches a certain level, periodic account balance updates, alerts when your account has been accessed online, and many other options as well.

Language: while the service is only available in Spanish, the messages are basic and short, so even if you aren’t fluent in Spanish, this is a service that could be very valuable for you.


  1. No set up fee or monthly charge for the service.  Once maximum “free” alerts have been reached, low rate is charged on a “pay per use” basis.
  2. Maximum of 50 “free” alerts every 6 months (more or less 8 monthly, 100 SMS alerts included annually).
  3. Additional alerts over and above 50 cost just 0.15€ (again, you have 50 alerts every 6 months).
  4. When you are alerted, and if you have questions about the specific transaction, the number to call is 902.246.810 (operator assistance in Spanish) or 902.114.015 (operator assistance in English, French and German between 8h00 and 21h00).

To set up the service on your account, stop the our Caja Madrid branch located at Calle Serrano, 114 Monday-Wednesday + Friday from 08h00 to 14h00, or Thursdays from 08h00 to 14h00 and 17h00 to 19h00.  You will need to see one of the customer service representatives to set up the service.

We use both our own and third-party cookies to enhance our services and to offer you the content that most suits your preferences by analysing your browsing habits. Your continued use of the site means that you accept these cookies. You may change your settings and obtain more information here. Accept