“On October 20, 2025, a new mandatory validation process for the Tax Identification Number (NIF) and bank account number (IBAN) associated with savings accounts will be implemented,” according to a statement from IGCP.
The aim is “to ensure that the NIF and IBAN truly belong to the account holder, preventing fraud and strengthening the integrity of operations.”
If it is not possible to confirm the match between the registered NIF and IBAN, “the savings account will be temporarily immobilized, and account holders, in such a case, should go to an authorized service point (CTT stores or the Citizen Spaces Network disclosed on the IGCP website) and present an updated IBAN proof,” explains the agency managing public debt.
Procedures related to the opening and operation of savings accounts and the management of savings products will also be updated to “enhance security, transparency, and efficiency in relations with account holders.”
Measures include greater detail in the documentation required to open accounts, clarification of necessary documentation for the redemption of products held by adults with legal accompaniment, and reorganization of procedures in the event of death transfers, “clearly distinguishing cases of minor holders and of adult holders accompanied.”
The IGCP also warns about the importance of updating personal identification data, which is “indispensable to prevent the risk of asset prescription under IGCP custody.”
Last week, the Court of Auditors identified risks of prescription concerning savings and treasury certificates valued at 1.174 billion euros, partly because the IGCP is unable to pay families due to immobilized accounts or deceased holders.
According to the report on the 2024 General State Account, there was an “increase in balances under IGCP custody (covering a long time frame — 2005 to 2024), the maintenance in the debt ‘stock’ of potentially prescribed securities (due to lack of information) and others at risk of prescription.”
