The battle for savings is intensified: Revolut Ultima the launch of a payroll account in April

The battle for savings is intensified. With deposits, offering an anemic profitability, financial institutions have launched aggressive campaigns trying to hook To customers. In many cases they do it through payroll accounts, in exchange for which they offer higher remuneration. Among traditional banks, the most striking options are those of Ibercaja and Bankinter, whose payroll accounts pay 5.09% and 5%, respectively, during the first year (although they ask for more link than mere payroll). Bankinter has just launched, on the other hand, a digital account that pays up to 3% in exchange for payroll and having Bizum – the instant payments service – linked to the account.

Neobancos are also planting traditional entities In this field. This is the case of The British Revolution, who is finalizing an offensive under pressure. In just a few days, on March 31, it ends the promotion of its remunerated account to 3.56% TAE (equivalent annual rate) for amounts up to 100,000 euros, with which Revolution broke the market last year. Now, the goal is, market sources explain, retain customers who arrived at the entity attracted to this offer. Savings that, given the fall in remuneration, will foreseeably consider looking for alternatives as of April 1.

Revolution adds about 300,000 clients in their savings accounts, for a figure that is around 1,500 million euros; and Of those 1.5 billion, more than half correspond to new customers, which entered thanks to this promotion (This product was launched in 9 countries, and it was in Spain where it had best). Hence, the group is finalizing the launch, facing next month, of a payroll account that avoids a flight of customers. In total, Revolution – which was born in London in 2015 with a multidivisa card focused on travel – already has more than 4.5 million in Spain (in Europe there are more than 40 million, already global level, 55). Zunzunegui (Revolut): “If we continue at this rate, we will reach 6 million customers in Spain at the end of 2025-2026 initiations.” Revolution currently offers 3.04% within its Ultra planbut this has a cost of 55 euros per month for the client. It is not simply an account but a plan that includes certain advantages, such as access to VIP rooms at airports or withdrawals in cashiers around the world for up to 2,000 euros per month.

Payroll accounts in Trade Republic?

The offer that Revolution is preparing coincides in time with the approval that the Bank of Spain has just given to the German Trade Republic to operate as a branch in Spain and can offer accounts with Iban Spanish. This opens the door for the entity to also offer products such as deposits and payroll accounts. It would be the foreseeable, since Trade Republic currently has products similar to the payroll account in markets such as French and Italian and expected to replicate that model in Spain. Trade Republic reaches 8 million customers and will open branches in Spain, France and Italy.

So far, Trade Republic has paid saving – without the need to domicile payroll – to types aligned with those of the European Central Bank, which are adjusted every time the institution moves them, which allows customers to know what remuneration they can expect. Currently, your account offers 2.53% (for amounts of up to 50,000 euros), a percentage that will fall as the ECB cuts types.

Also XTB has just moved tab on the board of paid accounts. At the beginning of March, the German broker who raised the interest of his remunerated account to 3.5% SAE (equivalent annual rate) during the first three months, from the previous 3.1%. But, after 90 days, remuneration will become 1.25%. XTB does not require a minimum amount or any other link.

The most striking payroll accounts, that of Ibercaja and Bankinter’s, both in the 5%environment, tie the client beyond their payroll. The account goes from Ibercaja remunerates with up to 5.09% TAE (equivalent annual rate) amounts up to 20,000 euros. The second year, the TAE is 2.01%. It is necessary, in addition to home A payroll or pension for at least 600 eurosperform 6 or more movements to the semester with the card and receive 6 or more charges domiciled every six months. This offer is aimed only to new customers.

Bankinter pays 5% during the first year and up to 2% the second, for a maximum of 10,000 euros. It is due domiciled a payroll of at least 800 euros and three receipts to the quarter, among other requirements.

For its part, the B100 Health account, the Abanca Digital Bank, offers up to 3.40% With a curious initiative: to pocket this profitability, the client has to get rid of of the mobile. You must demonstrate that it performs a certain number of steps per day (something that is monitored through an application) and set a maximum use of social networks such as X, Instagram or Tiktok. These conditions will be in force only until May 1, date from which the profitability of this account will be 3.20% Tae.