Right to a bank account for everyone agreed in Spain

All accounts must make their holders aware of any commissions charged, and provide a comparison across banks via the Bank of Spain website.

Although talks are under way about making basic accounts free of charge, 'reasonable' commissions will still be charged for the moment, according to the ministry for the economy.

The legislation is a move to implement a European Directive into Spanish law within the timescale required by the EU.

Also, the Council of Ministers has passed another law that requires large companies to provide public information about their corporate social responsibility, diversity among members of senior management and board of directors, environmental management, respect for human rights and the fight against corruption.

Diversity policies must be revealed for all public limited companies, known as a Sociedad Anónima or S.A. in Spain, and all firms with more than 500 employees are required to reveal social, environmental, human rights and corporate social responsibility policies, plus details of their annual accounts audits.

These corporations will be required to publish details of working conditions, equality, social dialogue, respect for union affiliation rights, health and safety at work, and local community protection.