Bank fees are one of the main sources of dissatisfaction. So much so that, during 2021, almost 11% of the complaints submitted to the Bank of Spain were related to the maintenance of current accounts. Although the amounts and payment dates vary between entities, according to HelpMyCash.com specialists, there are two well-known banks that charge commissions in November. Which are?
Firstly, ING will charge three euros, as it does every month, to Payroll Account holders who do not have their pension, salary or unemployment benefit direct deposited, or who do not receive a transfer of more than 700 euros from another bank.
For its part, Banco Santander will charge a fee of 20 euros for maintaining the Santander Account, provided that the linking requirements are not met. It is worth mentioning that the holders of this entity's Online Account are exempt from these costs.
Although individually these figures may seem insignificant, together they represent between 90 and 240 euros per year. However, HelpMyCash states that paying for account maintenance is no longer common. "Today, it is enough to open an online account without commissions or requirements to avoid these costs," they point out. But which banks offer this option?
The ING Non-Account Account is the solution to avoid commissions. "Even clients with the Payroll Account who must pay this month can open a No Account Account, which does not charge commissions," the experts explain.
The Santander Online Account also does not involve maintenance costs, although it is available only for new customers. This means that those who already have another account with the same entity will not be able to take advantage of this product. However, those who can do so will receive a gift of up to 400 gross euros for direct depositing the payroll or pension, in exchange for a two-year stay.
The Sabadell Online Account not only has no maintenance costs, but also offers interest of 2% APR indefinitely on savings deposited in the account. In addition, it returns 3% of electricity and gas bills.
Plus, it includes a free debit card.
Continuing with the main banks, BBVA's commission-free Online Account is another option to avoid maintenance costs. It does not charge commissions or establish requirements, and in addition, it can be opened completely online.
