The payroll has become an instrument of pressure that clients can use with banks. Through this work receipt you can open many doors in relationships with these companies, more than you might initially think. From getting a personal credit with better contracting conditions, to getting them to allow you to be in the red in your checking account, without any expenses. Certainly, a whole range of possibilities begins that you must explore to obtain more benefits.
This strategy can serve you, not only to improve the conditions of some banking products, but also to contain the expenses that derive from your condition as a client. For it, you can choose from a wide and diversified offer that these entities have put in front of your table. You just have to choose the proposal that best meets your needs, and based on the services you use the most in your daily life.
From the beginning, you can take advantage of the commercial strategy of banks that want to attract more customers, and especially those that contribute money on a regular basis. They do not skimp on offering you proposals, to which more suggestive, and in some cases even very aggressive. They especially seek that you do not resist and sign one of the accounts that are linked to payroll. There will be many benefits and services that they provide you, through a joint offer, which stands out in the promotion carried out by the banks themselves.
What kind of income do they admit?
They are banking products that are intended to capture the payroll of customers. However, there are many freelancers, or professionalsWithout having this receipt, they wonder if they too can access accounts with these characteristics. Indeed, they are also open to these commercial approaches. Even our elders through their retirement pensions. To the extent that it is a differentiated offer that has been programmed under different commercial approaches.
At this point, even more expansive proposals are included, which open this possibility to the unemployed who are receiving unemployment benefits. And in any case, with complete equality with respect to the payroll generated by employed workers. You just have to go to the current bank offer to detect an account model in which we are represented through our income. Surely you will discover it, and you will find very attractive incentives, which will be very difficult to reject.
Regarding the value of the payroll (or regular income) there is no common denominator on its amount, and depends fundamentally on the offer that the banks present you. They are very similar products between all of them, but some substantial differences matter, which are what determine the characteristics of the account itself, and of course, of its services. And only with the contribution of the payroll, or regular income, nothing more.
From this general scenario, the proposals are very different. There are accounts that require certainly high income, above 2.000, 3.000 or even more euros. In return, the offer is compensated with less demanding proposals that are adapted to all workers, including mileuristas. Because indeed, it is not uncommon to find some of these products from a minimum amount of 600 euros. Below this amount it is impossible to detect any account of these characteristics.
What do these accounts offer you?
From here there are no major requirements to formalize them, only to link the income to the account, nothing more. As a reward for this effort on your part, financial institutions will make you countless proposals, each one more competitive. Without limitations, and sometimes with greater benefits than you can initially foresee. If you are in a position to sign this banking operation, you will have no more resources than to attend to their offers.
They generally start from an initiative common to all accounts. It is none other than eliminate all commissions and administration expenses. In almost all banking products, this strategy is not only applied to accounts, but also to cards, transactions, transfers, etc. So that you can develop, without too much effort, a correct savings policy, which is strong enough to contain the main expenses. But from this basic provision, other more specific ones are being promoted that will give consistency to the sector's offers.
First advantage: access to preferential financing
Obtaining credit with better conditions is one of the ideas launched from banks so that you accept their proposals. Not in vain, you can save about one percentage point each time you subscribe a line of credit. And of course exempt from any commission. Moreover, in most cases you will not need to sue, but on the contrary, it will already be granted previously, from the moment you formalize the account. Although yes, the amounts will not be too demanding, but will be placed under margins that rarely exceed the barrier of 15.000 euros.
Second advantage: free cards
It is a majority bet among all the accounts that require direct debit of the payroll or another kind of regular income. As a consequence of this initiative, from now on you will not be charged for its management or maintenance. You will only have to face the interests for credit operations, or the expenses generated by withdrawing cash from ATMs, among others. They even give you the opportunity to choose the format assigned to the offer for having the payroll domiciled in the entity: credit or debit. You will be the one who selects it.
Third advantage: more competitive deposits
The low profitability in these products may be replaced by more demanding margins, than in the most aggressive proposals even they can reach no less than 5%. They can only be achieved through the proposals that some banks develop to receive their clients' payroll. This is a considerable improvement over traditional models. But be very careful, because their conditions are much harsher.
To begin with, they have an excessively long period, which does not exceed 6 months, and without the possibility of renewing the deposits at maturity. On the other hand, there are more obstacles to making it profitable with full guarantees on the contributions deposited. Not surprisingly, they only allow a very small balance of savings to be remunerated. Up to approximately 10.000 euros, as a maximum limit. From this perspective that they impose on these fixed income products, the euros that are transferred to our current account will not be very high.
Fourth advantage: free way to discovered
One of the worst scenarios for holders of a checking account is when it is in the red. The penalties that you will have to face may seem disproportionate, around 10% on the debit balance. Well, by direct debiting the labor income - in some bank offers - they include the possibility to exempt yourself from these annoying charges.
To the point that some very specific proposals allow clients who find themselves in this unpleasant situation may be in the red for the maximum value of their payroll. Without being penalized with any commission, as long as they do not exceed this limit. And in any case, it will give them greater liquidity in their checking account to face a series of expenses, especially unforeseen ones. And without the need to ask for an advance on your salary to cover these accounting holes.
Fifth advantage: completely free insurance
Despite being a secondary advantage with respect to other banking proposals, it is no less true that a series of insurance policies can be obtained through this commercial strategy without any monetary cost to your pockets. Fundamentally through the most basic products (accidents, travel assistance, home, etc.). Savings, therefore, will also be worth mentioning, and in this way you are also protected against any contingency.
The range of these insurance products that can be obtained range from the most conventional policies, which will protect you from many actions. But also other more specific ones that have a greater relationship with the products contracted with the bank, such as insurance for the protection of fraudulent use of cards. Without any economic cost from the beginning, as well as in its maintenance. In return, the coverage that they will offer you will be the basic ones, without any special coverage.
Sixth advantage: with payroll advances
And if for any reason you arrive with monetary problems at the end of the month, you have the possibility of resorting to the advance of your salary. For the value of up to six payrolls at best value. So that you can have an amount that can reach 6.000 euros, which will help you get out of more than one hurry. However, the most remarkable thing about this offer that these accounts linked to the payroll provide you is that it is generated without the application of any type of interest, nor does it entail commissions or other expenses in its management.
It is also not necessary that they grant it to you, since You have it at your disposal at the precise moment of formalizing the account. The only thing left to know is how many payrolls you can access, and the time period you will have to return it. In any case, it is one of the best options to provide you with a financing channel at this time. Everything will be advantages, and even this operation can also be applied to the pension of older clients.
But they take it out the other way.