Updated Friday, September 24, 2021 – 12:00
Most banks require customer bonding to avoid paying commissions. But in the event that you cannot meet any of the requirements for not paying commissions, there are options.
There are banks that do not charge commissions to their clients although they are not linked.
There are banks that do not charge expenses for the account if the client joins (direct debit, their receipts or hires additional products such as loans or insurance). But what happens if, for some reason, the client can no longer keep the direct debit of his salary? Unfortunately, “In many cases, the bank will stop subsidizing the account and will start to generate commissions”, they warn from the financial comparator HelpMyCash.com.
For that reason, it is interesting to look at the offer of banks that do not charge commissions to your customers, even if they are not linked. From the comparator, three options available in Spain stand out: BBVA (only in the case of new clients), ING or N26.
BBVA charges commissions to unrelated clients, but there are exceptions. Those who have contracted the Online Account Without Commissions, available only to new customers, do not pay. All persons of legal age residing in Spain can open it, whether or not they enter a payroll.
In addition to the free service, BBVA offers other types of advantages, such as the possibility of withdrawing cash in the more than 6,000 ATMs it has in Spain without paying commissions or using the associated Aqua Dbito Card, a plastic that offers a plus in security: it does not have the printed data, so only the holder can access them through its app. The CVV of the card is dynamic, so Internet purchases will be more secure.
ING also does not charge commissions to customers who open their Payroll Account. According to your rate book, the maintenance fee for your accounts or cards is always zero; the account requires the fulfillment of requirements to access extra benefits, not to eliminate commissions, they explain from HelpMyCash.com.
By directing a payroll, pension or benefit of any amount or receiving transfers in the account for a minimum amount of 700 euros per month, ING offers the free overdraft service for two days and access to its Shopping Naranja program, which includes discounts when refueling at Galp and Shell gas stations or when spending at fashion brands such as Springfield and Women’secret. In addition, it allows you to withdraw money for free at more than 50,000 Spanish ATMs.
Finally, there is N26, a 100% digital bank of German origin that already has more than 730,000 clients in our country. The Account N26 with Spanish IBAN It is available to any client of legal age residing in Spain, whether or not they have income. It has no maintenance or administration fees and offers an associated virtual debit card that is also free, which allows you to withdraw cash in any ATM in the euro zone free of charge up to three times a month. If the physical version is requested, it is necessary to pay a one-time fee of 10 euros.
Unlike the previous ones, N26 is an alternative without commissions or requirements that stands out for offering advantages in operating abroad. For example, it offers the possibility to pay in another currency without commissions (banks usually apply charges of around 3%) or to send money cheaper abroad in a currency other than the euro through the company specialized in international transfers Wise, with which it collaborates to offer its service through its platform.
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