This month, thousands of consumers are going to find themselves with up to 40 euros less in their current account. The reason? Several banks plan to charge commissions in June.
Customers of entities such as Banco Santander, BBVA or ING that do not meet the conditions required by their bank in order not to pay commissions will have to checkout in June, explain experts from the financial product comparator HelpMyCash.com, who have analyzed which banks charge commissions in June and how to avoid them.
Customers adhering to the Santander One program will pay 20 euros this month if they do not meet its conditions. Banco Santander reviews whether its customers meet their requirements every month and those who do not must pay 20 euros each time. Result: at the end of the year the account can cost up to 240 euros. To avoid this commission, you can direct deposit a salary of at least 600 euros and either pay three bills a quarter or use the card at least six times every three months.
BBVA, for its part, will penalize less connected customers with a commission of up to 40 euros, which is paid every three months. Holders of the BBVA Va Contigo Payroll Account who direct deposit a salary of at least 800 euros will save the commission.
On the other hand, the holders of the BBVA Online Account do not have to pay commissions even if they do not have their salary paid directly into their accounts.
ING will once again penalize customers who have 30,000 euros or more in their savings account and do not have their income domiciled in the bank with a monthly commission of ten euros. To avoid this, simply meet the conditions of the Payroll Account or reduce the balance of the savings account.
Customers who pay commissions today have two options. Either they ask the bank what conditions they have to meet to stop paying commissions and they assume them or they change the entity. “Sometimes, meeting the conditions of the entity is very simple, especially if we already have a direct debit payroll, since we probably only have to domicile a couple of receipts or make a minimum consumption with a card,” they explain from HelpMyCash. However, some banks may require the client to contract products that they are not interested in and that, in addition, have a cost to stop paying commissions.
Changing banks is the other option. There are a large number of offers for new clients willing to change entities. Even the banks that this month are going to charge commissions to some of their clients, such as BBVA or ING, market, in turn, accounts without maintenance costs and without conditions. Some of these offers are only available to new customers.
For example, the BBVA Fee-Free Online Account for new customers has no maintenance fees for making transfers or for the debit card. And to hire it you do not need to domicile a payroll, or receipts or maintain a minimum balance.
Another option is the ING Payroll Account. To enjoy all its advantages, it is necessary to direct deposit a salary, a pension or unemployment or receive at least 700 euros per month from another bank, but even if the client no longer meets these conditions, the account will continue to be free. SEPA cards and transfers also have no commissions and, among other advantages, allow you to withdraw money at more than 48,000 Spanish ATMs.
Openbank’s Open Current Account also does not charge commissions to customers who do not domicile their income. In fact, you have no obligations. Transfers and the debit card for the first holder are also free.
