Almost all banks located in Spain will charge commissions in June to its clients with less ties and who do not comply with the required conditions. From an analysis prepared by the financial comparator HelpMyCash.com, it appears that June and December are the months in which entities apply more surcharges as monthly, quarterly and semi-annual expenses accumulate and, in some cases, the charges that will be passed now will rise at 60 euros. “Not all customers will pay, only those who do not meet the conditions of their bank account will do so”, indicates a spokesman for the financial comparator, from where they calculate that up to 11 banks based in our country will charge commissions throughout this month.
After the increases announced in 2020, the current cost of maintaining an account ranges from 67 to 240 euros per year. Not counting the rest of the surcharges applied to the cards or to certain transfers. This year The average commissions have also increased from 37 to 43 euros per year for the credit card; from 22 to 35 euros for the debit card and from 37 to 45 euros for transfers.
In order to avoid these expenses, most of the entities require a greater link as direct payroll or pension or hire additional products –Which in turn generate other commissions– such as investment funds, pension plans, insurance, loans or making a minimum outlay with a credit card.
Nevertheless, linking more is not the only solution to avoid these costs since the charges increase in a parallel way through those contracted products. For this reason, the experts at HelpMyCash.com recommend assessing whether it is worth accepting the conditions imposed by the bank to avoid paying commissions and, if not, changing the entity. “Changing bank is not a complicated process,” they point out from HelpMyCash.com. The first step is open the new account and, once activated, you can make a transfer to send the money. It will also be necessary to transfer the receipts and notify our company that we have changed the account number. The last step would be to cancel the account and old cards so that they stop generating commissions.
Hardening of conditions
Sometimes, domiciling the income is not enough since the entities have hardened the conditions not to charge commissions, as they warn from the OCU consumer association. Faced with this panorama of Search for profits by entities derived from the drop in margins due to low interest rates, It is advisable to look for profitable accounts, which not only exempt from paying commissions, but also offer some type of remuneration to their clients, they indicate in the OCU.
Another alternative is to switch to online banking and to entities that operate through the Internet. These online accounts offer more attractive options that do not involve paying commissions and that, in addition, do not require too many linking requirements to avoid them.
George is Digismak’s reported cum editor with 13 years of experience in Journalism