Over the last year, banks in Spain have rolled out a wide range of offers aimed at customers who receive regular income in the form of a payroll. From cash gifts to competitive interest rates and commission-free services abroad, financial institutions are competing aggressively to attract these customers. Helping consumers understand and take advantage of these offers is essential in such a dynamic market.
According to the experts of the financial comparator HelpMyCash, banks are willing to offer up to 400 euros in cash in exchange for direct deposit of a payroll, pensions or recurring income. This strategic approach is not new to the banking industry, but it has evolved toward direct monetary incentives rather than gifts like tableware or televisions.
In this sense, HelpMyCash has selected some of the most outstanding offers on the market:
These deals, however, often require long-term commitments, such as keeping payroll at the entity for a year or two. “It is important that customers fully understand the terms and conditions before committing to an offer,” experts recommend.
In addition to cash incentives, banks are also offering opportunities to grow savings. For example, the Evo Payroll Welcome Smart Account, which offers a return of 2.85% APR up to 30,000 euros. This is a commission-free account that includes a free debit and credit Smart card.
Another account that rewards savings is the Sabadell Online Account. In this case, the entity will remunerate the savings of its new clients up to 20,000 euros at 2% APR, and also returns 3% of the electricity and gas bills that the client directs.
