Bank accounts are one of the savings products mostly contracted by users. Everyone has it subscribed, to direct their domestic bills, receive the amount of their payroll or simply to operate with their usual bank. It is a banking product very easy to use and that does not require special financial knowledge. It can also be a source of interest on the balance of your savings. Although with a minimum return as a result of the cheaper price of money by the European Central Bank (ECB). With the value of this material asset at 0% and at historical lows.
All banking entities have a product with these characteristics. Under different formats: accounts for young people, online or for the self-employed. There are as many checking accounts as there are recipients of this financial service. Because they are essential to carry out different bank movements or even access credit cards. credit or debit. In short, they cannot be missed at any time. Whatever scenario you present at all times.
In any case, one of the biggest drawbacks of this financial product is it incorporates a series of commissions that can be very detrimental to your interests as a user. To the point that it can involve an annual expense of between 20 and 100 euros approximately. However, the good news is that from now on you can eliminate this expense. So that in this way, its ownership does not cost you a single euro. It will not be a complicated task to perform and you will only have to follow a series of very effective tips to achieve this desired goal.
How to eliminate commissions?
If you want that from now on you do not have any kind of disbursements, you will have no other solution than to vary your actions as a bank user that you are. In this sense, these strategies in your actions will not only be beneficial to eliminate these bank charges. But it can also help you improve interest rate that apply to you right now. Because their remuneration is at historical lows, with a return that rarely exceeds the levels of 0,1%.
In addition, you will be able to obtain a series of banking products for free. Among some of the most relevant are debit cards, national transfers and in some cases the contracting of a line of credit under preferential conditions. That is, with a discount of a few tenths of a percentage compared to their original prices. As you can see from now on, you can stretch your account more than you thought from the beginning. Do you want to prove it?
Accounts with direct debit
The first system to obtain an account without commissions is materialized through the contribution of a salary, pension or even regular income. It is a way to eliminate all the expenses involved in hiring a banking product like this one. In addition, returns on balances of up to 5% can be generated. As in the specific case of the so-called Payroll Account that Bankinter has developed for its clients. For a minimum amount of around 1.000 euros. With the possibility of even having overdrafts of up to the value of the income linked to the account. As well as access to a series of credits in preferential condition.
Another of the most relevant advantages of this linking model refers to the additional benefits of this commercial strategy. Among them, the option to subscribe time deposits with a much higher yield. Because in effect, this type of account allows you to make profitable savings through this product. Although it is only enabled for tranches in very small balances, of up to 10.000 euros approximately. As for a period that is very limited, from a few months to a maximum of one year. Without being able to renew upon expiration.
Accounts contracted online
Another format that eliminates commissions is online. It is a simpler and more comfortable way to formalize this banking product. And that also slightly increases its profitability, by a few tenths of a percentage compared to the more traditional models. Without other expenses in its management or maintenance so that the saving of the users is continued every year. To the point that they are accounts that are being promoted by credit institutions with great diffusion. Intended for all kinds of customers, both new and old.
On the other hand, online accounts maintain all the benefits and services of the traditional ones. Without having to renounce these benefits from the precise moment of its formalization. So that in this way, you are at the disposal of manage savings with greater facilities. You have a wide range of products with these characteristics, both from online banking and physical entities so that you can adapt to your closest needs.
Greater customer loyalty
Online formats are also present in these management models. The only requirement will consist of contract more products with your usual bank. Among them, pension plans, investment funds or insurance. Through this strategy you will be able to root out all the expenses derived from your savings account. And at the same time that you will obtain the best conditions for the use of the main banking services. More contracted products will improve the conditions of this savings account. The development of this financial product is governed by this philosophy.
Another aspect that you should take into account from now on is that the commissions in this type of account are removed forever. At least as long as you comply with the requirements imposed on you from the banking entities. With the elimination of all kinds of commissions and other expenses in its management or maintenance. That is, the cost of these accounts will be zero. With what you can reduce these annoying expenses every year from the hiring of any of the accounts that have these characteristics.
With a personalized service
A last resort that you have to not pay a single euro for your checking account is negotiate the conditions with the bank itself. So that in this way, they provide you with preferential treatment in your relationships with the entity. However, not all clients can access this condition. If not, on the contrary, only the best users of the bank. If this were the case, congratulations, because from now on you will root out these charges from your bank account.
The demands that will be imposed on you from the bank offices may be very harsh. Of course, you will have to be very solvent and present a very clean bank file. Of course you should not be in debtor positions. And if you have contracted other banking products (pension plans, investment funds, savings programs or insurance) better than better to defend your interests. Because at the end of the day they will not charge you a single euro for maintaining your savings account. Beyond the performance generated by the available balance in this format.
Online banking vs traditional banking
Of course, another aspect that you should assess from now on is that internet banking is more likely to develop these savings strategies. Because in fact, in almost all cases they present accounts exempt from commissions and other series of expenses inherent to them. Fundamentally because its management and access to content is in online format and will not require physical presence of personnel to assist you in administrative procedures. With what, in addition to being exempt from these expenses, it will allow you to obtain a better profitability for the average balance available in each of these accounts.
On the other hand, you will be able to know the variations of your balance or movements at any time and situation. Even with the possibility of report any incident that you may have. For example, the loss or theft of a credit or debit card associated with the account. With the advantage that these operations can be carried out at any time of the day, even at night or on weekends. To the point that you will be in perfect conditions to cancel or block some other banking product.
In any case, commission exemption is a commercial strategy that the vast majority of Spanish banks are opting for. With a very simple reason to explain and that meets the need to retain your clientele. To try to prevent them from going to the promotional offers made to them by other financial institutions. Being the first measure they take so that the user remains in their usual entity. In any case, also accompanied by another series of initiatives, such as increasing interest on the balance or obtaining credit or debit cards completely free of charge. Even in some very specific case, you can request an advance for the net monthly amount of your payroll or regular income.