At least five entities plan to charge maintenance commissions in March to less linked customers. They will be up to 60 euros. At the end of the year, some customers can pay up to 240 euros for the maintenance of their checking accounts and as many for their cards.
“Banks have carte blanche to charge commissions for the maintenance of their accounts. The only exception are basic payment accounts, the price of which is regulated”, explain the experts from the financial comparator HelpMyCash.com, who have compared which are the best commission-free accounts.
Banco Sabadell plans to charge a commission of up to 60 euros on March 24 to Sabadell Account holders. The quarterly fee varies depending on the degree of customer loyalty and can be 0, 10, 20 or 60 euros. The higher the linkage, the lower the price of the service.
The holders of the Sabadell Online Account do not have to worry, since this product never has any maintenance fees, even if the client does not have their salary directly debited, HelpMyCash sources explain.
This account is one of the most attractive at the moment and many can use it to stop paying commissions, especially now that the entity has just improved its offer: new customers who open a Sabadell Online Account will get a return of 2% APR on first year, as up to now, and, in addition, 250 euros as a gift if they direct their salary. The promotion is only for the first 20,000 new customers.
BBVA customers had to go through the checkout on March 15. The least linked had to pay a commission of up to 40 euros. This commission policy does not affect the bank’s Online Account. Its holders do not have to worry, since this product has no expenses and does not require direct debit of payroll, receipts, or maintaining a minimum balance. Clients of other entities can open this account to stop paying commissions (it is exclusive for new clients).
In the case of Unicaja, the entity’s clients adhered to the Zero Commission Plan who do not meet its requirements have to pay a quarterly commission of 30 euros and this month is the first payment of the year.
Banco Santander and ING are one of the few entities that charge their commissions monthly, they point out in HelpMyCash. On the one hand, the bank chaired by Ana Botín charges a commission of up to 20 euros each month to Santander Account holders who do not meet its conditions, but does not charge anything for the Online Account. This account is always free.
On the other hand, ING charges three euros a month if the requirements of its Salary Account are not met, but avoiding it is very simple: just open a NoCuenta Account, which has no strings attached.
Most banks that charge fees also have totally free accounts. The problem is that these products, in general, are of no use to those who have to pay, because only new customers can sign up for them, they explain at HelpMyCash. The ING Account No Account is an exception, because any ING client can open it.
In the rest of the cases, there are two options to stop paying: either all the conditions of the account are met or change the bank. Right now there is a wide catalog of free accounts for new customers that offer all the basic services (cards, transfers, Bizum, ATMs…) at no cost and without the obligation to receive a salary every month. This is the case of the digital accounts of Sabadell, BBVA, Santander, Abanca…
“If the only thing that ties us to the bank is an account, changing entities is very easy. The first step is to open a new account at another bank, then you have to change the direct debit of the payroll and receipts, transfer the balance and close the account that is no longer going to be used”, the HelpMyCash experts explain.
