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Something as everyday as withdrawing cash or paying a bill is becoming increasingly difficult in parts of the Region of Murcia, not because of queues or confusing machines, but because there is simply nowhere left to go.
Over the past decade, the Region has lost more than four out of every ten bank branches, according to the latest figures from the Bank of Spain. In October 2015, there were 926 bank offices operating across Murcia. By October 2025, that number had fallen to just 533, a reduction of 392 branches, or around 42%.
The steady pace of closures, happening month by month and year by year, has transformed the banking landscape. While online banking and automated services have made some transactions quicker, they have also created serious problems for people who rely on face-to-face services, particularly in smaller towns and rural areas.
As the Association for the Defence of Consumers and Users of Banks, Savings Banks and Insurance Companies (Adicae) in the Region of Murcia explains, “There is a major problem, because the closures primarily affect towns where residents tend to be elderly and unable to travel to the bank.”
According to data from the Bank of Spain, four municipalities currently have no bank branches at all. Albudeite, Ojós, Ulea and Villanueva del Río Segura are now without any physical banking offices, forcing residents to travel elsewhere for even the most basic services.
Adicae says banks are pushing harder towards online-only services, adding that financial institutions are trying to “further digitise” and “force consumers to open more online accounts”. The organisation accepts that technology has its place but argues that progress should not come at the expense of vulnerable users. “We agree with technological progress, but not with leaving consumers behind,” it says, warning that the digital divide remains significant.
The closures have not spared the Region’s largest cities. In the municipality of Murcia, including the capital and surrounding districts, around 130 bank offices have disappeared between 2015 and 2025. Cartagena has lost 66 branches over the same period, with further reductions also recorded in Lorca and Molina de Segura.
Problems become more acute when branches shut in outlying districts, where populations are older and residents may lack smartphones, computers or the skills needed for online banking.
A new legal framework may offer some protection. Law 10/2025 on customer service, which came into force this month, requires banks to provide priority telephone service for elderly people and those with disabilities, as well as personalised assistance in branches when needed. Staff must also receive specialist training. However, banks have 12 months to fully adapt to the law, and it does not require them to keep branches open.
Local councils in rural areas are trying to respond. Víctor Manuel López, president of the Federation of Municipalities of the Region of Murcia and mayor of Ulea, says town halls are holding talks with rural-focused banks such as Caja Rural and Caja Rural Central to explore whether limited in-person services could return.
Councils have even offered municipal buildings so branches could operate “for at least one or two days a week” to meet the needs of older residents, López explains. Where branches cannot be restored, municipalities have pushed for the installation of modern cash-points, ensuring that services like cash withdrawals, bill payments and balance checks remain available.
As López puts it, the traditional banking model may have changed, but the need for basic, accessible financial services has not.
For a full list of banks that remain open click here.
I have been a Qualified Financial Adviser for almost 35 years now. 25 years in the UK for major institutions such as Natwest, RBS and Royal London. I have been in Spain giving expats financial advice now for 10 years and it is quite remarkable the different approaches as well as advice that are required for an expat now living in Spain. Blacktower is a company that has specialised in providing the best solutions for its clients living outside the UK for 30 years also.
The currency issue is always high on the agenda and a discussion for the long-term future has to be taken onto account. Questions like What will happen if one partner dies? Will the other remain in Spain? What about other family members? What Inheritance tax provisions do you have in place? The list goes on and on.
Existing portfolios and investments that were the mainstay of portfolios in the UK may now be obsolete. An example of this is quite often tax efficient products in the UK like ISA’s and previously held TESSA’s: PEP’s actually have low growth rates and provide no tax advantage to a Spanish fiscal resident.
Existing pension holdings either paid by the state or private pensions built up through working lifetimes are topics that have to be covered. Many expats have lots of small pensions from many ex employers and can be confused by the communications and administration in dealing with them. At Blacktower we specialise in advising on how to consolidate and bring all these pensions together in one place.
Bank accounts and investments in Spain always bring up lots of questions too. Quite often the small print associated with financial products in Spain is in Spanish this can make it very difficult even if you have a good grasp of the language. Understanding Jargon in English is sometime difficult enough. I provide clear easy to understand letters and documents in English so that you fully understand any terms and conditions before making a decision.
Advice on tax efficiency is just as important and offering good returns. There are products available exclusively for Spanish expats that can provide invaluable benefits. Having a good base knowledge of the tax implications both now and in the future is an essential ingredient to making a sound decision.
Click for more information about Keith Littlewood.
The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
This communication is for information purposes only and it does not constitute advice or a recommendation. The value of investments can go up as well as down, and investors may not get back the full amount invested. The Blacktower group of companies operates across multiple jurisdictions, each authorized under its respective regulatory license. For further information, please refer to the relevant regulatory page.
