Savings accounts are a practically irreplaceable banking product for users. And from where they carry out the main banking operations: cash withdrawals, transfers, payments, and even the control of your balance. But more and more a new benefit is being imposed that is very beneficial for your interests. It is about the return of part of the invoices when directing these documents.
Although savings accounts are not distinguished by their high remuneration, but rather by the opposite, since they offer clients very low margins. Between 0,10% and 0,50% approximately on the balance presented in them. As a consequence of the reduction in the price of money by the community body in monetary matters. But in any case, it can be counteracted by the effects of the accounts that pay you money for its link to the main household bills.
It is a commercial strategy that banks are developing with great aggressiveness, and with certain frequency, to attract new customers. And it consists in that they return you between 1% and 3% of the amount of all the bills domiciled in the entity, without limit as to their number. No matter its nature, it affects all services (gas, electricity, water, etc.), and also others of a more personal nature (professional associations, personal insurance, or even payment to the community of neighbors).
How are the accounts that require direct debit expenses?
You will be able to receive a refund based on the offer presented by each bank, and which usually will not always be the same, when other services are added or removed. However, with all certainty that you will find a maximum limit on the return, which you can not exceed under any circumstances.
In return, they will only require two conditions that are very easy to meet on your part. On the one hand, that you have an account with these characteristics open. And on the other, that you are open to linking all your domestic bills to it, and directing all of them.
If you meet them, congratulations, because you you will save some euros every month. It is not that you get spectacular returns on the balance, but at least it will help you to contain expenses in your usual relationship with financial institutions.
In addition, without limits on the number of invoices presented to this unique offer generated from the banks. However, what you will not get is any improvement in the interest margins that these accounts provide, which will be absolutely the same as through traditional accounts. With no more than 0,30% at best.
Another characteristic that this banking product provides is that it is presented without commissions and exempt from any expense in its management or maintenance. With which the savings will have a double path of penetration. And to what is added, that from this instrument of banking conception also you can get completely free credit and debit cards, at least for the first year.
From these basic contributions you can choose between several models that present these interesting contributions. There are not many, but there are enough so that you can save from now on many euros a year in each operation. Without involving any additional effort in your relationship with this kind of savings account. Nor will it be necessary for you to contract another series of products (pension plans, investment funds, insurance, etc.), although in this case without domicile.
What accounts meet these requirements?
You will have a series of banking products that you can subscribe under these characteristics. With very aggressive proposals, which will even make you change banks to get the advantages offered in the suggested models. They are very similar between them, with little difference, and where the percentage of the return will be their main sign of differentiation, and the most important. Being able to take advantage of promotions that return up to 3% of the expenses of your household bills.
You will only have to find the model that best meets your personal needs, and of course, that best suits your profile as a bank customer. To help you with this, we are going to present you some of the account models that are currently being marketed. And maybe even some of them interest you especially to be hired, and achieve your objectives, which will be none other than containing expenses through this unique business strategy.
Opportunities will not be lacking, of course, and to which will be added another series of services and benefits inherent to these banking products. One of the entities that generates this characteristic is Banco Sabadell through its Expansión Account. They will return the maximum, 3%, but with limitations for a cap of 20 euros per year. The proposal for the Banco Popular account is based on 2% on domestic bills, which is also limited to about 15 euros every year.
Another of the financial entities that is in charge of marketing this banking product is Oficina Directa, which currently has a checking account that returns 2% of the direct debit charges to its holders. And finally, the offer presented by Openbak that takes up to 1% the formalization of these returns without having to contract other banking products.
How to optimize the operation?
Once this savings model is subscribed, you will only have to direct debit the receipts you want, without limitations. You can even formalize this operation through transfers from the account of other entities. So that its effectiveness is the maximum possible, It will be highly recommended that you review the expenses that are charged to you every month, or quarter. Not only those from domestic services, but also of a different nature.
One question that you may have is when they return the amount generated by these direct debits. Well, very simple, every time the receipts are charged on account, directly, without having to wait for other more delaying deadlines, nor at the end of the month. Not surprisingly, the discount will occur automatically, without any waiting or other conditions. In this way, the effect that will be generated in your checking account will be immediate.
It is true that they are not very spectacular amounts, but in any case It will help you to compensate for the increase in the rates of some energy services, for example, that of light. And with the added advantage that everything will be centralized through the same banking product, and without having to change entities. It will be concentrated on just one banking product, so that you have more facilities to access their offers.
As not many offers of these characteristics have been developed up to now, it will make it easier for you to develop your account selection more optimally. This is so, because you will have more time to analyze in detail each of the proposals, and finally reach the conclusion of which of them it is convenient for you to subscribe. In addition, considering what other benefits it includes in its contracting clauses: cards, bank movements, transfers, etc.
Twelve tips to choose the best model
Faced with the offer presented by the banks, your only task will be to equip yourself with the best instrument to interact with the banking sector for your usual operations. To help you achieve this objective, we propose five ways of action from which you can support yourself. to make the best decision related to the direct debit of your personal and household bills.
- Decántate by the accounts that present better percentages for direct debit of these receipts, but paying particular attention to the limits that these special banking products will offer you.
- Select the one that generates the least expenses for your usual operations, and if they are exempt from commissions, much better, since your savings will go in two directions.
- Look for some model, by which you can subscribe a credit (or debit) card without having to assume any financial outlay, at least for the first few years after hiring.
- Although it is true that the monetary return of these products is clearly unsatisfactory for your interests, still you will be in a position to subscribe an account that gives you something else every month.
- If you have direct debit receipts in different accounts, it may be time for you to change your strategy and unify them in a single model, to take advantage of all its advantages.
- Always keep in mind that They are not products specially designed to obtain yields for them, but to operate through your bank with all kinds of operations.
- Remember to provide the service providers with your account number so that the direct debit is made correctly from the first moment, and you can receive the returns.
- They are very favorable accounts for your conditions as a bank user, since some of them do not even allow you to make any kind of linking.
- These products are not linked to the contracting of other bank designs (investment funds, pension plans, term deposits, etc.), and only in some very specific proposals will you require direct debit of your payroll (or pension).
- It is a very dynamic product that is constantly being renewed., presenting more and more suggestive news, and from which you can benefit in their hiring.
- Although in most cases they are free of expenses, you must be very careful about positioning yourself in the red, since the penalties are usually very burdensome until you update your balance.
- And finally, you have no minimum period of permanence, since you can unsubscribe at any time, and without having to assume any expense for the operation.