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FAMILY

EXPLAINED: How new mothers in Spain can get an extra €100 a month

The Spanish government has announced a new benefit for mothers of children aged 0 to 3 which adds up to €1,200 a year. Here’s everything you need to know about it, from who is eligible to how to apply.

EXPLAINED: How new mothers in Spain can get an extra €100 a month
How new mothers in Spain can get 100 euro benefit. Photo: JAIME REINA / AFP

Due to inflation and the rising cost of living, families in Spain are finding it increasingly difficult to pay for the costs of childcare and products that babies and young children need such as nappies and formula.

In order to help new mothers meet those extra costs, the Spanish government has announced a new €100 benefit as part of its newly announced 2023 national budget.

Deputy Prime Minister Yolanda Díaz confirmed the new measure – dubbed el cheque bebé (the baby cheque) – on Tuesday October 4th after her meeting with Prime Minister Pedro Sánchez.

Who is the benefit for?

The aid package will be for all mothers with children between 0 and 3 years of age.

Benefits already exist for working mothers, which are either paid out each month or included as a deduction on their personal income tax return, but now it has been extended to all new mothers, whether they are working or not.

READ ALSO – Costs, tax cuts and choices: What you should know about childcare in Spain

Are there any other requirements for receiving the benefit?

The only requirement, in addition to having a child under three years of age, is that you have to be registered with Spain’s social security system (has made contributions for a minimum of 30 days), a mutual society or already receive financial aid such as unemployment benefits. 

Therefore, foreign mothers who are legally resident in Spain and paying their social security fees can also access the benefit.

How much will I get and when?

Families will be given a €100 cheque per month, which adds up to a total of €1,209 per year.

The measure will come into force from January 1st 2023.

How can I apply?

There are three ways to apply for the aid, either in person, by phone or online.

In person: You will need to fill out modelo (form) 140 and make an appointment to take it to your local tax office.

By phone: You can call 901 200 347 to reach the Tax Agency telephone service centre. You will need information handy such as your NIF/NIE, your social security information and your bank details.

Online: If you have a digital certificate, you can log on to the Agencia Tributaria website and submit your request over the internet.

READ ALSO – Access all areas: how to get a digital certificate in Spain to aid online processes

This new aid will be part of the new Ley de Familias or Family Law which will include “new permissions for caregivers, permission to attend to unforeseen family circumstances and a new eight-week parental leave”, the Ministry of Social Rights stated.  

The law also states that single-parent families with two children will be allowed the same benefits as familias numerosas (large families) with four or more kids. This includes discounts for certain services such as train tickets. 

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For members

MONEY

What’s the maximum amount you should have in a current bank account in Spain?

Most people in Spain only have one bank account and use it for all different purposes, but what happens when you manage to save up a bit? Here's the official advice on Spanish savings accounts.

What’s the maximum amount you should have in a current bank account in Spain?

Our bank accounts are used for many day-to-day activities such as paying bills, receiving paychecks and buying groceries, but is there a maximum amount of money you should have in your account at one time? And what should you do if you go over this amount?

While there isn’t an official maximum amount that you should have in your current account, the Organisation of Users and Consumers (OCU) advises that your current account only be used for certain amounts and everything over that should be put into different accounts.

According to the OCU, in your main bank account, where you receive your salary, pension or other significant payments, you should have a maximum of three months of your salary.

So for example, if you earn the minimum wage of €1,000 per month in Spain, then the maximum you should have in your current account is €3,000.

READ ALSO – Ask the expert: What are the best UK banks for Brits in Spain?

They advise that you don’t want to go too much under this amount either because you want to make sure you have accessible cash to use when you need it, as well as for possible emergencies. They also suggest checking your account balance regularly to make sure you don’t go into the red and don’t incur extra bank fees.

But equally, you don’t want to have too much in your account and keep all your savings in one place for security reasons.

Savings accounts

The OCU recommends opening a savings account or cuenta ahorro for any amounts greater than three times your salary, rather than keeping it all together in your current account.

Most banks have various types of savings accounts with different interest rates and different fixed terms where you’ll have to keep your money in for a certain amount of time.

For money you’ll need in the short term, but not right away, the OCU suggests putting it into a fixed-rate savings account (cuenta ahorro plazo fijo) for 12 months, but warn that if you need the money before the year is out then you may have to pay fines take it out.

For money that you know you won’t need in the short term, the OCU advises putting it into a long-term investment or a fixed-rate savings account for longer than one year. “For amounts that you don’t plan on touching in the next five or ten years, it’s advisable to make a little profit on it, however, keep in mind there may be seasons in which you suffer some losses too”, they said.

Savings over €100,000

For anyone that has savings over €100,000 in any type of account, it’s important to distribute the amount over various accounts warn the OCU.

This is because during an economic collapse or bank failure, you will not be covered by the EU Deposit Guarantee Fund, which is only able to guarantee the repayment of your money up to €100,000.

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