We have all heard a neighbor, friend or relative criticize their bank because they have charged commissions or because their mortgage payment has increased.
But there are also banks whose customers are satisfied, as can be seen from the fifth edition of the HelpMyCash Awards, in which more than 1,300 users have rated their bank.
ING customers are the most satisfied, followed by Openbank and Bankinter, according to the survey results. The first gets a note of 8.52 out of ten, the second, 8.47 and the third, 7.65.
On the opposite side are the users of Unicaja and Ibercaja, who are the ones who value their bank the worst. These entities have obtained a score of 4.87 and 5.97 respectively.
The orange entity has revalidated its title as the best bank in Spain for the third time in a row.
In general, checking accounts and cards are the products most valued by Spaniards, while mortgages, deposits, loans and investment products receive a failing. The degree of satisfaction of Spaniards with mortgages and fixed terms has decreased considerably in a matter of two years. During this period, mortgages have become more expensive, both fixed ones, which now have higher rates, and variable ones, due to the Euribor.
And what happened to the deposits? In this case, the scenario is different. They are more profitable, but according to user ratings, not enough. Two years ago, these products were not attractive due to the economic context. “But now, with rates at 3.75%, logic says that they should be and, nevertheless, the main banks in Spain are reluctant to remunerate the liabilities, which has caused the anger of many Spaniards,” they point out in HelpMyCash.
And what door do you have to knock to get a really good account? Spaniards consider that the best checking accounts are marketed by ING and the online subsidiary of Grupo Santander. These are precisely the same entities that obtain the best score in the commissions section, which is not surprising, since, in general, satisfaction with checking accounts is closely related to the commissions paid by the customer.
ING maintains a low cost rate policy in its checking accounts and sells both a totally free account with no conditions and an account with more advantages for customers who want to direct deposit their income. In the latter case, the cost if income is not received is three euros per month, nothing to do with the 240 euros that some traditional entities can charge each year to customers who do not meet their requirements.
The ING NoCuenta Account is free for everyone, whether or not they have a payroll, since it does not have linking requirements. It can be opened in minutes online and includes a free virtual debit card that can be used with Apple Pay or Google Pay. SEPA transfers and Bizums are also free of charge.
As regards the services offered by banks, customers value customer service and transparency positively, although if we analyze the score obtained by each bank there are big differences. Once again, Openbank and ING, in this order, are the entities with the best customer service and the most transparent, according to the more than a thousand respondents who have participated in the HelpMyCash Awards. The bronze medal in customer service goes to Caja Rural while in transparency it goes to Kutxabank.
