There are many current accounts marketed by banks, but among them one of the most innovative are those that return a part of the linked household bills. Among them those of the gas, light, water or other home services. Up to the point of replacing up to 5% of the charges for these benefits. This is a class of accounts that has only been in force for a few years, but with one of the most powerful developments by the Spanish banking system. Now it has increased its offer significantly so that you can choose between several formats of this rising banking product.
Bank accounts with direct debit of domestic bills only require linking. Nothing more, so that from that moment on, users can start enjoying all its features from the first moment. However, your bank performance does not vary substantially from traditional accounts. That is, they are under minimum margins that rarely exceed levels above 0,50%. Without that from these you are in a position to create a forceful savings bag in terms of their remuneration.
This class of products intended for savings are fundamentally characterized by the fact that they are aimed at all user profiles. Without exclusions of any kind. So that in this way, every month you can save money from household charges. If their quantity is not much, they will at least serve you contain uploads that they experience every year. Especially with regard to the electricity bill, with increases that can even approach levels of 10%. This is how these special savings accounts are registered. But you have to know a lot about them from now on.
Returns of up to 5%
First of all, you should know what a banking instrument is so that you have more liquidity in the checking account. As much as the offer that you are going to contract through these products. At this time they offer you a return that moves under very narrow margins that move between 1% and 5%. Within this general scenario, they contemplate the same services and benefits as in other types of accounts considered as traditional. That is, you can operate with your usual bank and with the banking services that you have been handling up to now.
The mechanics of this commercial strategy that banks have developed is very simple. They offer you a direct discount on the total of your electricity, water or gas bills. In this way, the main effect is that you will have to pay less money for these bank charges. So that the liquidity in your savings account be older every month. As a result of this action, you can save between 50 and 150 euros every year by applying this loyalty system. Depending on what consumption you have developed in each period.
Requirement to access these accounts
Of course, they are very easy to contract since they will only demand that you direct debit the receipts that you want to link to the checking account. They do not necessarily have to be all, but what you yourself think appropriate. On the other hand, this banking product does not require other links, such as direct debit of the payroll or pension. Nor will they demand that you maintain a Minimum balance in the account every year. It is all much easier for your personal interests since it will only be necessary to open the selected account to carry out this special commercial strategy.
Generally it is a banking product that does not involve any term of stay. In other words, you will have complete freedom to decide when to cancel the savings account. Unlike other models where they require a period of permanence that can last up to 12 months and that are made with very severe penalties. Well, in this case, you should not fear for these Commissions because it will not give rise to these very particular situations. Not surprisingly, they are a type of account that is marketed with considerable flexibility by financial institutions.
No rise in interest
If what you want is to substantially improve your income statement, it is not the best model to hire it. Because in effect, this kind of savings account does not increase interest by any percentage. It is practically the same as in the other accounts of the current bank offer. This means in practice that it will mean a profitability that will be at a minimum. With a kind of fixed and annual interest of up to 0,2% in the best case. Because do not forget that these of which we speak are not framed within what are the high profitability. They are completely different models, both in their concept and in the mechanics by which they are governed at the moment.
Another feature of these savings models is that they are exempt from commissions and other expenses in its management or maintenance. You will not have to pay a single euro for its use and it is a very important difference with respect to other formats that are available in the current banking offer. That is, it will not involve any financial effort in its maintenance. From this point of view it is a very advantageous banking product for the interests of the users. In addition, with the additional advantage that you can direct the receipts that you want at any time and almost unlimitedly. Without these movements involving any monetary outlay.
With cards for free
If there is another particularity that defines these accounts, it is that through them you can get free cards. They are generally applied to debit plastics and on rare occasions to credit plastics. So that in this way, they do not have to pay the emission and maintenance commissions that this kind of financial products entail. This feature will allow you to save just over 10 euros every year. Of course, they are not really spectacular amounts, but at least they will allow you to slightly increase your savings bag.
On the other hand, it cannot be forgotten that accounts with direct debit of domestic receipts include a series of services or benefits that are also free. As for example, perform unlimited domestic transfers, issuance of bank checks or even the access that you can obtain another class of financial products in better contracting conditions. From this perspective, it is a product that can be very beneficial to defend your family interests since you will also pay less money for household bills.
They offer between 1% and 5% of receipts
The offer offered by banks at the moment operates under these parameters. But you have to clarify an aspect that is very important for users. It is none other than that these discounts are not unlimited since they only apply to a maximum rate. Never on the entire amount of consumption, as can be believed from the beginning. It only reaches up to a limit of up to 20 or 40 euros, depending on the offer of each of the banking entities. Banco Santander and in general all online banking is in charge of launching this kind of offers to the public.
In another aspect, it should be mentioned that one of the most aggressive proposals is the one that Banco Santander has developed through its Account 1, 2, 3. With this banking product, you can enjoy up to 3% annual nominal interest (APR 1.81%) of the daily balance, up to 3% bonus of the usual receipts and also, you will become a Santander shareholder, because you get 1 welcome Santander share, thanks to the loyalty program of this financial product.
Conditions in the contract
It not only affects the domestic receipts of the ones we have mentioned above. If not that also applies to local taxes and social security: IBI, fords, road tax, REA, RETA. On the contrary, it does not usually include VAT, personal income tax, corporation tax, inheritance, etc. In another aspect, it must be emphasized that you can be the owner of a maximum of two accounts as long as you are not the sole owner in the two, that is, you can have an account as the sole owner and another joint ownership, or be the owner of two accounts with ownership joint.
Finally, remember that the operation of the account is very simple: if you meet the conditions, we will pay you the benefits. If you do not meet them, you do not receive them. The monthly maintenance commission will become 8 euros if you do not meet the conditions during three consecutive settlements, once the initial grace period has ended or if you have already met the conditions at some point. When you meet the conditions again, you will immediately pay 3 euros again.
Any individual resident or non-resident in Spain over 18 years of age can contract this kind of special account, whether they are a new client or already a client of the entity making the offer. As a consequence of a loyalty program for this financial product.