Spain continues to tighten controls over banking activity and money transfers as part of wider efforts to combat tax fraud, money laundering, and undeclared economic activity. By 2026, new reporting rules introduced over the last two years are fully in force, affecting banks, payment platforms, businesses, and individuals alike.

While most day-to-day banking remains unchanged for private individuals, financial transparency has increased significantly, particularly for anyone involved in professional or commercial activity — including the property sector.

What’s New? A Broader View for the Tax Authorities

One of the biggest changes is that Spanish tax authorities (Hacienda) now have access to far more detailed information about electronic payments than in previous years.

Historically, banks were only required to report certain transactions once they exceeded specific thresholds. From 2026:

• There is no minimum threshold for reporting commercial electronic payments
• Banks and payment providers submit regular reports covering income linked to economic activity
• Digital payments are no longer treated differently from traditional bank transfers

This does not mean that every personal transfer is taxed or reviewed individually — but it does mean that income received through banks and digital platforms is much easier to trace.

Which Payments Are Affected?

Bank Transfers

Standard domestic and international bank transfers remain legal and unrestricted. However:

• Transfers linked to business or professional activity can be reported to Hacienda
• Large or unusual movements may still trigger anti-money-laundering checks
• Cash deposits or withdrawals above €3,000 continue to attract special scrutiny

Bizum and Mobile Payments

Bizum has been one of the most talked-about changes:

• Bizum payments received as payment for goods or services are reportable
• This applies regardless of the amount
• Personal Bizum transfers between friends or family are not automatically reported, provided they are not linked to economic activity

The key factor is purpose, not the payment method.

Card Payments

Banks provide annual summaries to the tax authorities when:

• Card payments linked to a business exceed €25,000 per year
• This applies to credit, debit, virtual, and prepaid cards

Again, this is aimed at identifying undeclared income, not monitoring individual purchases.

EU Instant Transfers and Anti-Fraud Measures

Alongside Spain’s national rules, EU-wide banking reforms are now fully implemented:

• Instant SEPA transfers must be offered at no extra cost
• Transfers are completed in seconds, 24/7
• Banks must now verify that the recipient name matches the IBAN, warning customers of possible errors or fraud

These measures improve both speed and security but also reinforce traceability.

What This Does Not Mean

Despite some alarmist headlines, the 2026 rules do not mean:

• That private individuals must declare every personal transfer
• That splitting a dinner bill via Bizum triggers tax reporting
• That buyers or sellers are automatically taxed on moving money between their own accounts

The system is designed to identify patterns of economic activity, not private life.

What This Means for the Property Sector

1. Real Estate Agencies

Real estate agencies are among the most affected groups.

• All commission income received digitally is fully visible to Hacienda
• Payments via bank transfer, card, or Bizum are treated the same
• Discrepancies between bank records and declared income are easier to detect

What agencies should do:

• Ensure all commissions are invoiced correctly
• Keep business and personal accounts strictly separate
• Avoid accepting “informal” payments outside standard accounting systems

For agencies already operating compliantly, the changes mainly increase administrative transparency rather than costs.

2. Property Vendors (Sellers)

For private individuals selling property:

• The sale proceeds themselves are not automatically taxed differently
• However, large incoming transfers related to a sale are clearly identifiable
• Hacienda can easily cross-check sale prices against declared capital gains

Key implications:

• Under-declaring the sale price is far harder than in the past
• Side payments or undeclared deposits carry significantly higher risk
• Using transparent, bank-based payments protects both parties

For sellers, compliance now relies less on paperwork alone and more on bank-reported reality.

3. Property Buyers

For buyers, especially international or cash-heavy buyers:

• Large transfers into Spain are visible and may prompt questions about origin of funds
• Banks may request documentation earlier in the buying process
• Payments related to deposits, reservations, and final completion are fully traceable

What buyers should expect:

• More frequent source-of-funds checks
• Less tolerance for informal payment structures
• Greater protection against fraud and misdirected transfers

While the process can feel more bureaucratic, it also reduces legal and financial risk for buyers.

Final Takeaway

By 2026, Spain’s banking system offers faster, safer, and more transparent payments, but with significantly reduced tolerance for undeclared economic activity.

For the property market, the message is clear:

• Transparency is no longer optional
• Digital payments leave a clear trail
• Proper invoicing, declarations, and documentation are essential

For most compliant buyers, sellers, and agencies, these changes simply formalise what should already be standard practice — while making the system fairer and harder to abuse.