The truth is that in Spain many people only have one checking account. And they have had it for a long time without even wondering if that account is the one that best suits their needs and, above all, if it is free or generates some type of cost.
“Limiting yourself to a single account, whether out of loyalty, indifference or simply ignorance, is not a good idea. Less so now, when the Spanish banking market offers free online accounts and also gives away money,” they continue from the comparator.
Although many people think they can only have one, there is actually no limit to how many accounts can be opened. The ideal is to have at least two in two different banks, but there are people who need three or even more to correctly manage their personal finances.
Sometimes the client forgets to update their data or the bank detects a strange movement, in this case the entity blocks the account. If this happens, you will not be able to collect payroll, make transfers, pay bills, withdraw money, or make purchases with the card.
“In these cases, having two accounts may be the solution so that you can continue making payments and collections while your main account is blocked. Of course, make sure that the secondary account has some money so you can use it if necessary,” they add from HelpMyCash.
Experts emphasize that it is not about opening an account to open. Before doing so, they recommend reading these tips:
?That there are no commissions
There are many accounts without commissions and without conditions. Look for online accounts that are always free and that do not have a long list of requirements that are difficult to meet.
HelpMyCash has shared a list of the most popular free accounts on the market. The list begins with the Santander Online Account, which has no maintenance fees and you do not have to domiciliate payroll or receipts to contract it. It includes a debit card, with no issuance or maintenance fees, with which you can withdraw money at all Santander ATMs in the world and allows you to make transfers in euros for free. Although it is not mandatory, if the payroll or pension of at least 600 euros and two monthly receipts are domiciled, the red bank gives a gross gift of 300 euros. And if the income is 2,500 euros or more, you will get 400 euros gross.
Next is the BBVA Commission-Free Online Account, which has no connection, so it can be opened even if you do not have a payroll. You can contract it alone or with another holder and each one will receive a free Aqua debit card.
The Banco Sabadell online account is one of the best for those looking for an account that generates profitability. The bank offers 2.5% APR for an entire year for the first 30,000 euros held in the account. The account has no commissions or conditions. By contracting it you will receive a totally free debit card to withdraw money and pay for purchases.
On the other hand, the ING NoCuenta Account does not ask for payroll or receipts and has no maintenance fees and offers a free debit card.
?Verify that all the requirements can be met so that the account is always free.
?That your customer service adjusts to the customer’s interests. If in-person care is needed or if what they provide online is enough.
To avoid being tempted to use savings on everyday expenses, it is best to open a separate account and transfer the savings.
It is worth having a separate account that can be used to pay fixed expenses. “This little trick will help you keep track of where your money goes,” the experts explain.
With interest rates so high, it is a waste to have savings in accounts that do not pay off. “It is time to take control of your finances and put your savings to work. If you do not want to take out a deposit or invest, then you should not rule out the idea of ??placing savings in accounts that pay. Like the N26 Savings Account , which offers a 2.26% APR with no maximum amount.”
