Online Banking in Spanish

After the security steps such as password, ID Card Number and SMS verification, the system in which the user enters the bank’s website or application on his behalf to make banking transactions is called internet banking or online banking as a general definition. Online banking is referred to as banca en línea in Spanish.

How to Open Online Banking Account?

A bank with an account must have an internet banking password before you can log in to online banking. There are multiple ways to get an online banking password:

How to Get an Internet Banking Password on the Internet?

You can get your first login password by entering the requested information (such as customer number, card number, personal information, etc.) through the website of your affiliated bank and following the ‘Get Password / Change Password ’ (Obtener contraseña / Cambiar contraseña) command. To do this, you must first be the customer of the bank and have the customer number or card number. Since each bank has a different internet interface, we can say that they can follow different ways for password transactions.

How to Get Internet Banking Password on Smart Phone?

First you need to download the phone application of the bank you are a customer to your phone. Then you can log in to the application and fill in the information requested by you again, in the same way as Get Password / Change Password (Obtener contraseña / Cambiar contraseña) you can create a login password by following the command. When you log in, you need to know your details, such as a customer number or card number.

How to Obtain Internet Banking Password over ATM?

After inserting the card of the bank you are a customer into the ATM, you can get a password for internet banking via the internet banking tab through the user menu (Menú del Usuario) or application menü (Menú de aplicaciones) from the main menu. You can log into internet banking with the password that comes to your mobile phone registered in the bank. This password will be used only once. Generally, after logging into the system, a window appears where you can create the password that can be used continuously.

How to Obtain Online Banking Password via Call Center?

You can get a single-use internet banking password (contraseña de banca por Internet de un solo uso) by calling the call center of the bank you are a customer of, by connecting to the customer representative or by automatic dialing. You can log into internet banking with the password that comes to your mobile phone registered in the bank.

How to Obtain an Internet Banking Password from the Branch?

You can go to the branch of the bank where you are a customer and talk to the individual customer representative (representante del cliente) and indicate that you want to get a password for internet banking. In accordance with the information you will receive from you (such as passport number, customer number, etc.), a one-time password will be sent to your mobile phone registered to the bank. With this password, you can set your own password by logging into internet banking and use the same password continuously.

What can be Done Using Online Banking?

It is possible to perform almost any transaction (transacción) that can be performed in the bank more easily thanks to online banking. More detailed procedures can be listed as follows:

  • All term and demand account transactions, new account (nueva cuenta ) definition;
  • Invoice payments, tax payment, fee payment, donations;
  • Credit card (tarjeta de crédito) transactions, debt payment and advance payment transactions, credit card limit increase, loan application;
  • Transactions related to private pension and insurance policies;
  • Transfer money or EFT from accounts or credit card, transfer money abroad;
  • Password change operations, information update operations;
  • Investment transactions, stock trading, gold / foreign Exchange (intercambiar ) buying / selling;
  • Providing online calls with customer service;

The information above may vary from bank to bank. Today, the largest and smallest online banking system is available in all banks.

What are the Advantages of Internet Banking?

You can do most of the transactions quickly without having to go to the bank’s branch.

In certain transactions from the branch, the bank may charge high commissions (comisiones ) or fees (tarifa). The fees charged in internet banking may be less than the branches. (These transactions vary from bank to bank, but there is no fixed procedure.)

Internet banking allows you to make transactions outside working hours. In this way, you can perform transactions outside working hours (horas laborales) or on weekends.

What are the Disadvantages of Internet Banking?

There may be security vulnerabilities caused by cyber attacks by hackers. Banks make high investments to ensure security. However, this is rarely the case and customer (cliente ) information can be copied. In such cases, there is a risk that the money (dinero ) in your account will be stolen. However, these situations do not constitute a major problem as the bank deals with one-to-one and the damage can be compensated.

It can be a disadvantage that a live contact (contacto en vivo) is not found when a problem is encountered. In cases where the support provided over the internet is insufficient, it may be the healthiest method to interview with the bank branch.

How Secure is Internet Banking?

As mentioned in the previous section, one should be careful of the trap of thieves. However, it is not easy to overcome the firewall with these attacks. Because multiple protection systems are available and access to the mobile phone via a single-use message (mensaje de un solo uso ) when logging in, it is a bit more difficult to overcome all security. The Bank provides the necessary infrastructure and security systems for such situations. The bank deals with grievance in case of any copying.

Therefore, it is necessary to be careful about using internet banking but it should be aware that there will not be a big problem.

What are the Spanish Banking Terms You Must Know?

  • Cashiers: La caja
  • Czech: El check
  • Credit: El crédito
  • Debt: La deuda
  • Cash: El dinero
  • Currency: La moneda extranjera
  • Interest: El intéres
  • Bank Account: La cuenta de banco

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