Updated Wednesday, October 13, 2021 – 12:00
Some clients have gone from paying zero commissions on their own to paying more than 250 per year.
Commissions have gained prominence in recent months. Many clients have seen how their bank increased the price of their checking accounts or their cards and, in addition, tightened the conditions to be able to operate for free. The new bank commission policy has caused some clients to have gone from paying zero euros a year on their own account to having to pay more than 250 euros per year, unless they comply with all the links required by their bank.
But, which are the banks that charge less commissions? Financial product comparator HelpMyCash.com has asked more than 1,100 consumers to rate their banks’ commission policy. According to the results of the survey, the bank that charges the least commissions, according to the clients themselves, is ING. The orange entity has obtained a score of 4.1 out of five based on the opinions of the more than a thousand respondents who have participated in the fourth edition of the 2021 HelpMyCash Awards, which reward banking excellence.
The silver medal went to Openbank. The online entity, which has obtained a rating of four points, has positioned itself just above Bankinter, which has had to settle for bronze.
The orange entity has been awarded as the bank that charges the least commissions for HelpMyCash. Despite having started to charge this year a commission of 10 euros per month to the holders of the Orange Account with a balance of 30,000 euros or more who do not have their direct debit income, the bank’s clients have positively valued its commission policy. It has also been awarded as the best bank in Spain, the one that sells the best checking account and the most transparent, among other prizes.
The truth is the ING Payroll Account, its flagship, has no maintenance fees or for issuing SEPA transfers. The debit and credit cards associated with the account do not have annual fees and the customer can withdraw money for free at more than 50,000 Spanish ATMs without paying commissions. In addition, it offers other advantages such as two days of overdraft free and the ability to send money through Bizum and use Apple Pay and Google Pay. To enjoy all its advantages, it is enough to direct a payroll, pension or unemployment of any amount or receive transfers from another bank of at least 700 euros per month.
The second position on the podium has been occupied by Openbank. Santander’s online subsidiary sells a current account without commissions and no mandatory link. An interesting option for those who cannot afford the high linkage requirements that many banks demand or who simply do not want ties.
The Open Current Account It has no maintenance costs, allows free SEPA transfers and does not charge for the debit card with which you can withdraw money at the more than 7,000 ATMs that Santander has in Spain. Openbank customers can send money through Bizum and pay with their mobile using the entity’s own app, in addition to Apple Pay, Google Pay or Samsung Pay.
Bankinter has occupied the third position on the podium of the banks that charge less commissions, according to the results of the HelpMyCash Awards 2021. Consumers have given it an average score of 3.8 points out of five.
The entity currently markets the most profitable checking account on the market; However, in order not to pay commissions, you have to meet three linkage requirements: direct debit of a salary of 800 euros or more, pay three direct debit bills per quarter and use the credit card three times every three months. Fulfilling these conditions, the Bankinter Payroll Account It has no maintenance fees or fees for making SEPA transfers and includes a free credit card with which you can withdraw money at no cost at more than 17,000 Spanish ATMs. It allows you to use Bizum and pay with your mobile with Apple, Google and Samsung wallets. Although the main advantage of Bankinter’s star account is another: it has a return of up to 5% APR the first year and up to 2% APR the second for the first 5,000 euros. In total, you can earn 340 gross euros.
According to the criteria of
The Trust Project Learn more