Which banks charge less commissions in
The Commissions are one of the main sources of income for banks. However, many of them have chosen to disminuye them, or even eliminate them, in order to attract new customers.
If you want to enjoy the benefits of a commission-free account, keep reading this articulo. Here we will tell you everything you need to know to save a few euros in your banking operations.
Why do banks charge commissions for financial procedures?
As mentioned, commissions represent a great source of income for banks. Those who suffer the most are the customers with fewer backlinks.
- The more bond they have with the entity, the less commissions must be paid throughout the year.
Usually, commissions are translated as the cost for a service provided that the entity charges its customers. But the current context has aggravated the situation.
He persistent environment ‘zero interest rates‘, in force in the Eurozone for years and for which no end is in sight in the medium term, has forced banks to squeeze the maximum income from commissions.
In this way, the weakness of the benefit that was obtained by the banking activity of a lifetime, that of capturing money and lending it at certain interest rates, are no longer what they were and, therefore, It has been seen in an increase in the price of commissions.
Top 3 Banks with the least commissions in Spain in 2023
Despite the above, it is possible open a bank account in Spain in 2022 and not only not pay commissions, but even receive the odd gift or benefit.
Between the entities that stand out the most for their low commissions are:
The Open Bank Current Account It is an account free of commissions and requirements for all clients. The best thing about the account is that, even if the owner does not backlink his income, he will not pay costs. If he does so, he will have additional advantages such as the recovery of 0.5% of the amount of his direct debit bills.
Openbank also offers the possibility of having a debit card without commissions forever. With this you will be able to save when spending on the brands of the Open Discounts program and withdraw cash from the large network of Banco Santander ATMs in Spain.
The ING Salary Account is one of the most habitual in Spain with 2.7 million users. It is a bank account without commissions and without conditions or commitment to permanence, with free debit and credit cards.
This account stands out for its flexibility. It only requires a requirement: have a salary, pension or benefit domiciled in the account of any amount. Also, it offers all the advantages in exchange for monthly transfer income of at least 700 euros from another entity.
The German digital bank offers en línea account free for those who are looking for an account with no commissions, no requirements and no permanence. It also includes a free virtual debit card so that the experience is completely digital and that allows you to withdraw cash at any ATM within the euro zone.
Also, unlike other fintech entities, N26 offers Spanish IBANsomething that makes things much easier when making a transfer or domiciling the main receipts.
What are the commissions charged by a bank in 2023?
- maintenance fee: It is the most basic and corresponds to the fact of having a bank account open. Its cost perro be up to 240 euros per year and perro be charged monthly, quarterly, semi-annually or annually
- Administration fee: It is the amount that the bank charges for each movement that is made in the account (withdraw money in cash, pay with a card, pay a bill…). It is usually around 0.40 or 0.60 euros per operation, so, depending on the transactions that are made per month, more or less will be paid
- Commission for transfers: is the amount that the bank charges for sending money to another account. The amount is variable depending on the type of transfer
- Card issuance or maintenance fee: regardless of whether it is debit or credit, you have to pay every time the bank gives us a card and, in addition, an annual amount for its maintenance, which is between 30 and 50 euros
- Fees for using cards abroad: It is less common, since it is only charged when the card is used in another country that does not have the same currency. If you pay in a store with a card, the bank charges around 3% of what you paid. But if money is withdrawn from an ATM in that country, they perro charge several commissions at the same time
- overdraft commission: It is one of the highest. It is paid when the cómputo remains negative, popularly known as ‘being in the red’. It is applied as a percentage of the maximum debit cómputo, although the client must pay a minimum that the bank establishes
- Commission for withdrawing money from the ATM: It is what a bank charges for withdrawing cash from an ATM that does not belong to your entity. However, there are banks that have agreements between them not to charge this commission
- Commission for use of offices: It is the expense for carrying out an operation at the bank office, such as depositing a check, a transfer or requesting a certificate of ownership
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