Banco Santander and BBVA Warning: What You Spend Now with the Card Will Be Under Scrutiny

Banco Santander and BBVA have recently warned their customers about an important change that will affect them. From now on, certain card expenses will be under much more detailed scrutiny by the Tax Agency. This new measure aims to strengthen control over transactions and ensure that taxpayers comply with their tax obligations.

The intention is that from the next income tax return, card payments exceeding 25,000 euros annually will be included. This measure is still pending approval by the Council of Ministers. But if it comes into effect this year, it would affect taxpayers in the 2026 tax return.

The idea is for the Tax Agency to have a more precise understanding of citizens' income and expenses. This way, greater equity in the tax system will be ensured. The aim is for all taxpayers to fulfill their tax obligations fairly and transparently.

Banco Santander and BBVA Will Have to Handle It

The good news for customers of Banco Santander, BBVA, and other entities is that they won't have to do anything to comply with this regulation. The banks will be responsible for directly reporting card transactions exceeding 25,000 euros per year. Thus, users won't have to worry about anything additional when conducting their transactions.

This control will not only affect physical purchases but will also include all transactions made electronically. This means that if you make a purchase at your favorite store and exceed the 25,000-euro limit, that payment will also be reported to the Tax Agency.

The objective of this new regulation is to improve tax transparency in Spain. But also to reduce the number of undeclared transactions that could be affecting tax collection. The measure seeks to create a fairer and more balanced system, where all taxpayers contribute what they owe.

The card payment control system is considered an effective tool for enforcing tax laws and reducing fraud. Bank cards, both physical and virtual, have become one of the most used forms of payment. And now it will be easier for the Tax Agency to monitor large money movements through them.

How Will This Affect Banco Santander and BBVA Users?

Although there is still time for this measure to come into effect, Banco Santander and BBVA customers have already been warned about the changes. If you are a customer of these banks, it is important to keep in mind that if you make significant purchases with your card, the Tax Agency will access that data.

However, as mentioned before, you won't have to do anything. The entities themselves will handle the entire reporting process.