Bank commissions raise blisters. In 2020, the Bank of Spain processed 2,134 claims related to the collection of commissions on accounts, 91% more than the previous year. But, despite the anger of many customers, the bank continues to maintain its strategy: charge maintenance fees to less loyal customers. In total, a current account can cost up to 240 euros a year.
But getting rid of these expenses is easier than it seems. If the client does not want or cannot meet the requirements imposed by his bank not to pay commissions, he has another solution: change the entity. Banks treat new customers very well; In fact, while a person who has been in your bank for years can pay tens of euros a year if he does not meet several requirements, a new client can contract a totally free account with that same bank without any requirements.
These free current accounts focused on attracting new customers allow all day-to-day operations to be carried out: deposits and withdrawals, bill payments, transfers, card purchases, Bizum payments... In many cases, they are free without the need to domicile a payroll, explain the experts of the financial product comparator HelpMyCash.com, who have analyzed which are the best accounts without commissions in July.
Online accounts without commissions or conditions have even reached the main banks in Spain. Banco Santander, BBVA, Banco Sabadell and CaixaBank, in the latter case under the imagin brand, market an account of this type in which it is not necessary to domicile a salary to avoid paying commissions, explain HelpMyCash sources.
For example, the BBVA Online Account, which has already been contracted by more than a million customers of the blue bank, has no maintenance or administration fees, allows transfers to be made free of charge and withdraw money at more than 4,500 ATMs. In addition, the bank provides a free debit card to each holder (a maximum of two). To contract it, you only have to be a new customer and open it online, you do not need to domicile a payroll or receipts.
Abanca also sells an account without commissions or conditions, free even if a salary is not directly deposited. It is the Clara Account, which includes a debit card with no annual fees with which you can withdraw money at thousands of ATMs for free. In addition, those under 35 years of age can make five withdrawals per month without paying commissions abroad.
Although, without a doubt, those who have carried these accounts by flag have been the online banks. Openbank, for example, does not charge maintenance fees to the holders of the Open Current Account, whether or not they have their salary directly deposited. Nor does it charge for transfers, or for withdrawing money at more than 7,000 ATMs or for the debit card.
These accounts are generally virtual. In other words, they are designed so that the client contracts them online and operates through digital channels. In fact, if the customer goes to a branch to carry out an operation that he could do through the web, the app or the ATMs, he will surely have to pay a commission, they point out from HelpMyCash. Openbank, however, is an exception: it allows cash to be withdrawn and deposited at more than 3,000 Santander offices and the first two operations that the client makes each month are free.
Another classic when it comes to accounts without commissions is ING. The orange bank markets the Payroll Account, which has no maintenance costs and, in addition, offers exclusive advantages such as a 3% savings at Galp and Shell gas stations, free transfers that arrive on the same day or two overdraft days at no cost. To enjoy all its advantages, you have to domicile a payroll, as its name suggests, but a pension, unemployment or receiving transfers from another entity of at least 700 euros per month are also useful. Of course, the account will continue to be exempt from maintenance costs even if the client does not meet these requirements.
