Nobody wants to pay commissions. In fact, paying fewer fees is one of the main reasons for changing banks, according to a study by the financial products comparator HelpMyCash.com.
But the banks continue to charge them. It is the price of your services. During the first half of this year, CaixaBank, BBVA and Santander have pocketed 4.2 billion euros in commissions for their activity in Spain. These incomes come from the management of pension funds and plans, the marketing of insurance, the use of cards or securities operations. And also current accounts.
This month, at least five banks have forced their customers to check out. In the middle of the month it was the turn of BBVA customers who do not have an online account and who do not meet the bank's requirements. Banco Sabadell plans to charge this month up to 60 euros to Sabadell Account holders who do not meet its conditions (those who have an online account, who do not have to pay anything, are exempt). Unicaja, Banco Santander and ING close the list.
But all those who are paying fees for their current account and have the freedom to change banks, can open a free account at another entity. The offer is quite wide and, in many cases, you do not even have to direct a payroll to stop paying commissions. In fact, the same banks that are going to charge some of their clients this month, market accounts without maintenance fees for new clients, they explain in HelpMyCash.
The ING NoCuenta Account has no maintenance fees and to contract it it is not necessary to direct deposit a payroll or receipts or maintain a minimum balance. The orange bank does not charge for transfers, nor for sending money through Bizum nor for the issuance of the virtual debit card that can be used from minute one with Apple Pay and Google Pay.
Currently, new ING customers who open the account can recover 10% of each purchase they pay by card until October 31 with a maximum of 50 euros. In addition, if they want, they can also open a welcome deposit at 2.75% APR for four months with no minimum amount.
Another free alternative is the Banco Sabadell Online Account, which also has no commissions or conditions and does not charge for the debit card. This account for new clients has three advantages that make it attractive: firstly, a return of 2.5% APR the first year for a balance of up to 30,000 euros; secondly, returns 3% of all purchases paid with the debit card until October 31; and, finally, clients who decide to domiciliate their payroll receive a gift of 200 euros.
Also noteworthy is the Banco Santander Online Account for new clients, which, like the previous ones, has no commissions or conditions. It includes a free debit card with which you can withdraw money at 30,000 ATMs around the world. To hire it, it is not necessary to direct deposit a salary, but clients who bring their payroll or pension of at least 600 euros and two receipts will receive 300 euros as a gift. And if the payroll exceeds 2,500 euros per month, the incentive increases to 400 euros.
Another option is the EVO Banco Smart Account which has no commissions or requirements, does not charge for sending immediate transfers that arrive in 10 seconds and has a profitability of 2.5% APR up to 30,000 euros during the first year. In addition, it allows you to withdraw money for free outside of Spain. Customers who contract it will receive a free Smart Card with which they can pay by debit and credit.
The Banco Mediolanum Evolution Account closes the list. It has no maintenance fees, does not charge for debit and credit cards, has a profitability of 1.40% APR up to 10,000 euros and returns 1% of all receipts with a bonus of up to 10 euros per month. In this case, you do have to meet certain requirements to enjoy all these advantages: to start, you need to direct debit at least three monthly receipts; In addition, it is necessary to keep 25,000 euros invested in pension plans, funds or life insurance; and, finally, you must be part of the Mediolanum A Tu Medida program, for example by direct debiting your payroll.
