An annual average of 200 euros is what a customer pays to his bank in the simplest commissions: account administration and maintenance. But any financial transaction carries a cost: transfer, issuing checks, ATMs, possession of cards, contracting products …
The fall in the concession of consumer credit has reduced the margins of Spanish banks, which are carrying out practices with their clients that are often abusive. A revealing fact of why the entities establish commissions: the six largest entities (Santander, BBVA, CaixaBank, Bankia, Sabadell and Popular) entered in the first half of 2013 almost 4,000 million commissions , double their attributable profits in Spain.
Consumers, however, have put themselves on the warpath. A survey published last week by Bankimia.com (financial comparator) reveals that 59% of consumers would be willing to change banks for costs.
But know more about commissions and, above all, how you can avoid them. Here you have seven clues to become a customer with advantages and with some savings.
59% of Spaniards would be willing to change banks for commissions
What are bank fees really?
It is what the bank charges in compensation for its services. They can be charged together, in the case of a flat rate, or separately, for each service. The application will be a decision of the financial institution.
Is there a Legal maximum?
No, according to the Bank of Spain “the fees or prices of bank fees are free.” Entities can put the amounts they want except in a few bank transactions that are limited by law, such as the cancellation or early amortization of a mortgage loan at the same rate. variable or of certain credits to the consumption “.
What type of commissions exist?
The most common are those that apply to the administration of the account, which usually has an annual payment. It also implies costs for the use of cards, the making of transfers, the deposit of checks, the withdrawal of cash in foreign ATMs and the uncovered position, when our balance stays in the red. Do not forget that the granting of mortgage loans, personal and consumer loans, sight deposits, savings and term and endorsements are usually accompanied by an extra premium for the client. There are entities that charge for correspondence.
How can I avoid having my operations cost?
Currently there is a battle between entities to attract customers. That is why the agreement between the two parties, client and entity, works on numerous occasions. That is, if you have a payroll address, we can avoid expenses such as maintenance and administration. You can also be exempt if it is a VIP client, with significant economic presence. Do not admit correspondence, the same information can be obtained online.
And, above all, always read the fine print of the contracts. Never accept commissions that have not been previously warned or changes in them if there was no prior notice. On the other hand, if you were forced to open an account to have the mortgage or pay interest on a deposit, you would also be exempt from maintenance and administration costs, according to the Bank of Spain.
Is the advertising ‘Commissions 0’ real?
Yes and no. That is, in some cases the exemption of costs implies a closer connection with the bank, such as contracting insurance, direct debiting of expenses or acceptance of a credit card. In others it is real. In the table attached to the information is detailed the entities that at this moment do not charge commissions for maintenance, nor administration and transfers. Credit cards are free and do not require direct debit or pension. There are other offers, interesting too, but with a certain connection. In the websites of each entity, the cost policy is detailed. Search, compare and choose the one that suits you best.
Can the money already collected be recovered?
The first step is to make a claim to the customer service of the bank itself or via e-mail. And when it is proven that your claim has been denied, that it has been dismissed or that two months have elapsed without a resolution, an application may be made to the Bank of Spain.
Yes you can recover the money if it is proven that the application of the commission was abusive.
The big ones offer the best in their websites
Capturing customers online has become a priority for most banks.
Zero commissions in certain services if the client accepts the plan We want to be your bank . Requires the contracting of two products. You can benefit from discounts on purchases.
Adiós commissions program . To enjoy cost savings in certain services, you must have your salary or pension with a minimum income contribution.
oficinadirecta.com , of the Popular Group, offers the enjoyment of a current account without commissions when domiciling monthly income, such as payroll. Returns 2% of the receipts.
Payroll account for new clients. Until March 31st. Minimum salary, 1,000 euros. It offers an annual nominal interest rate of 4.94% for the first year and 1.99% for the second year.
Which one fits? Under this claim gives the option to save costs in their services. Having at least 1,000 shares of the entity is one of the requirements, although there are others.
Expansion Account. Free cards and no commissions. Returns 3% of receipts and 2% of fuels. Accurate salary, pension or monthly income of more than 700 euros.
Cibertarjeta . When you register online you enjoy zero commissions in certain financial services and the Cibertarjeta is granted for online purchases without an annual fee.