On October 31, CaixaBank customers who have the Day by Day plan will see 60 euros disappear from their account. And no, it is not an error, it is that this month the entity charges a commission for the maintenance of the checking account and basic services to clients who do not meet the account requirements.
The Spanish bank requires a quarterly payment, which results in 240 euros per year, which must be subsidized in January, April, July and October of each year. However, from the financial comparator HelpMyCash.com they indicate that there are two ways to avoid paying commissions.
“Stop paying commissions at CaixaBank is relatively easy. They only have to domiciliate a payroll of at least 600 euros or a pension of at least 300 euros or maintain a balance of more than 20,000 euros in investment products. And also, pay three direct debit bills every quarter or make three credit card purchases every three months,” indicate the comparator experts.
Customers who meet one requirement from the first group and another from the second group will not have to pay any commission, whether for their current account, credit card or SEPA transfers in euros. “On the other hand, those who only comply with the first point must pay a quarterly fee of 15 euros. Those who do not meet any of these conditions will pay 60 euros per quarter,” they add from HelpMyCash.com.
If you cannot comply with the conditions of the Day by Day plan or no longer want to do so, the easiest and free option is to "change banks," experts say. It is a very simple process. “It's actually more lazy to think about it than to do it. Today, there is a large catalog of accounts without commissions or requirements. They do not even require a direct debit of the payroll and the best of all is that they can be opened from any online device, it is a matter of minutes,” they acknowledge from HelpMyCash.com.
The Santander Online Account does not have maintenance fees and you do not have to domiciliate the payroll or receipts to contract it. It includes a debit card with no issuance or maintenance fees with which you can withdraw money at all Santander ATMs in the world and allows you to make transfers in euros for free. “And also, to attract new clients and only if you want, if you direct deposit a payroll or pension of at least 600 euros and two monthly receipts, you will get 300 gross euros as a gift. And if your payroll is 2,500 euros or more, you will get 400 euros gross. Of course, you must stay for two years”, it is an excellent gift if you decide to domiciliate income.
The ING NoAccount Account does not require payroll or receipts and has no maintenance fees. Your debit card is free and your transfers arrive the same day. “Right now, ING returns 10% of every purchase you pay with your new virtual debit card until October 31. You can get up to 50 euros in cashback,” they point out from the comparator.
Perhaps one of the best at the moment is the Sabadell Online Account: it has a return of 2.5% APR for an entire year for the first 30,000 euros in the account. The account has no commissions or conditions. Your debit card is free and like Santander, - it is not an obligation - if a payroll, pension or unemployment benefit of at least 700 euros per month is direct deposited, it gives a net 200 euros as a gift.
Another account that has gained followers is the EVO Smart Account. In addition to being free, it has no requirements, so no commissions will be paid, even if the payroll is not direct debited. Your Smart card has no issuance or renewal fees and allows you to pay by debit or credit. Another point in its favor is that it allows you to save 2% at Galp gas stations.
There is an alternative to continue being a CaixaBank customer without incurring commissions or meeting the requirements of the Day by Day plan. This option involves opening a current account in Imagin, CaixaBank's 100% digital banking.
Although its range of products is more limited and can only be operated through a mobile application, it offers a considerable advantage: the current account has no maintenance fees and is not required to direct deposit a payroll, receipts or maintain a minimum balance.
