Updated Friday, 10 September 2021 – 12:00
Starting this month, many banks will charge account maintenance fees to all those customers who do not meet a series of linkage requirements. But is there a way to avoid that outlay?
The payment of commissions has become one of the main sources of conflict between clients and entities.
Back to school, the electricity bill, the summer expenses … and a commission of up to 40 euros for the maintenance of the current account. There are many families that are going to find this surprise in the middle of the September slope.
At least half a dozen banks will charge maintenance fees in September to clients who do not meet their linkage requirements. Those who do will not have to pay. The less connected clients of Banco Sabadell, Banco Santander, Bankia, BBVA, ING and Unicaja will have to pay the corresponding monthly or quarterly commission this month, explain sources from the financial product comparator HelpMyCash.com, who have analyzed which banks are going to charge for maintaining your accounts and which offer accounts without commissions. BBVA is the one that charges the most, up to 40 euros. In addition, recently the former clients of Bankia have received the news that from 2022 they will have to pay 36 euros a year for their debit card, unless they cancel it.
Commissions have become one of the main sources of contention between clients and entities. In 2020, the number of claims received by the Banco de Espaa regarding account expenses grew 91% compared to the previous year.
How can you avoid commissions?
In an environment like the current one, marked by a general increase in account fees, many consumers wonder how to stop paying them. Banks eliminate account maintenance fees for clients who meet their linking requirements, so the easiest way to stop paying is to review and comply with those requirements. However, it is not always possible to do so or it does not always pay off.
Usually it is necessary domicile a payroll, pension or unemployment of a minimum amount to stop paying commissions, although some entities give as an alternative the possibility of having a certain amount of money in funds, plans or insurance. In addition, it is usually necessary to meet some extra requirement such as making a minimum expense with a card, direct debit of several receipts, etc. Conditions vary depending on the bank.
But what if you don’t want to meet the requirements or simply can’t? In those cases, stay in the bank it can have a cost of up to 240 euros per year, so it is advisable to take action. In addition, from the HelpMyCash comparator they advise against contracting products with cost, such as insurance, funds or plans, to avoid paying commissions if the client is not really interested.
Then, the solution is to try to negotiate with the entity, contract another account with better conditions within the bank itself if possible or change entity. Currently, there is a wide range of accounts without commissions with affordable requirements or even without mandatory linking conditions.
What entities market accounts without commissions or links?
Abanca, Openbank, BBVA, EVO Banco, N26, imagin, among other entities, allow you to open an account without commissions and have a free card without the need to direct a payroll or meet other linkage requirements, as reported by HelpMyCash. Also, some accounts may open with two headlines, so they can be useful for couples who need one to share expenses, experts add.
For example, the Clara de Abanca Account can be opened with a maximum of two cardholders and each receive a free debit card. The only requirements to be met to hire it is to request it online and operate remotely. It has no maintenance fees, allows you to make free SEPA transfers and send money through Bizum, as well as withdraw money at thousands of ATMs (all of the bank itself and outside Galicia, five times a month, at Euro 6000, Bankia, etc. El Sabadell, Bankinter, Caja de Arquitectos and Caja de Ingenieros).
The Open Bank Current Account It is another alternative for all those who want to stop paying commissions without having to meet the requirements, since it does not have a mandatory link. In this case, you can contract with up to five participants, but only the first one will receive a debit card without annual fees. Like the previous one, it allows you to use Bizum and make SEPA transfers at no cost and, in addition, it offers discounts on purchases. Its holders can withdraw money for free at the more than 7,000 ATMs that Santander has in Spain.
On the other hand, despite the fact that BBVA’s less connected clients will have to pay commissions this month, the holders of the BBVA Online Account they will get rid. This account without commissions and without mandatory linking is an exception and one of the best alternatives on the market. It admits up to two participants and delivers a debit card without fees to each holder. In this case, it is the Aqua card, which does not have its number or expiration date printed on it and whose CVV is dynamic, making it one of the safest at the moment. It can only be contracted online and is reserved for new customers. It allows you to make free SEPA transfers, use Bizum and withdraw money at the more than 6,000 ATMs that the bank has in Spain.
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