CaixaBank has entered the battle for customer payroll with one of the most attractive incentives on the current scene. The offensive by the largest financial entity in Spain, which usually starts the financial year with powerful campaigns, comes at the height of interest rates and at a time when the banks seemed to have made a impasse in the offers pending a movement of the competition.
CaixaBank offers those who domicile a salary of more than 2,500 euros per month to choose between receiving a 50-inch television or a return of up to 5% APR for the first 5,000 euros of account balance for two years. Thus, it is possible to add 500 gross euros after 24 months. If the salary is higher than 1,200 euros per month, the gift is a 32-inch LG television. It is necessary to bring the payroll to the entity before the end of the first quarter of 2023 and meet other requirements, such as direct debiting three receipts and making three card purchases per quarter.
In parallel, imagine, the entity’s online bank, launches its own hook and gives away 50 euros to those who domicile their assets. If the salary exceeds 1,000 euros per month, the bonus reaches 200 euros in cash.
Banks seek to encourage the registration of users with payroll or pension to increase their income. In addition, the payment is the jewel in the crown for entities, since it implies establishing a relationship with business potential, since it is likely that the client will end up contracting other products such as cards or loans. For citizens, it is a simple and risk-free way to obtain extra liquidity just by keeping their assets in the account. Of course, it is convenient to read the fine print carefully, since banks usually establish remunerated capital ceilings and usually require periods of permanence of at least one year. “It is the banking product with which entities try to retain their customers, so it is common to bet on better returns, discounts and fewer commissions,” they point out in Rastreator. “Payroll is the key product to become the client’s main bank,” financial sources say.
bankinter It has been marketing its flagship product for more than a decade: the Salary Account without commissions, which rents up to 5% APR the first year and 2% APR the second, with a remunerable balance limit of 5,000 euros. In total, you can get 340 euros gross in interest in two years for domiciling the salary of at least 800 euros per month, also three receipts and using cards.
Sabadell Bank has extended the remuneration of 2% APR for 12 months up to 30,000 euros for opening the Online Account between January 11 and 31 (both inclusive). It is possible to achieve 600 euros free in interest. And, in addition, it gives 175 euros if the payroll is domiciled before March 10. The product is exclusively for new clients, 100% online and has no commissions or link conditions.
For his part, openbank It has several remunerated accounts, but the Welcome Savings Account with Payroll stands out, which allows new customers to receive an annual 5% TIN during the first six months and a 0.20% TIN for the next six months, which means 2, 66% APR the first year, up to a maximum of 5,000 euros, in exchange for bringing the payroll of at least 900 euros per month. Fulfilling conditions, the remuneration is 130 euros gross per year. There are no administration or maintenance commissions and you can recover 0.5% of direct debit bills for electricity, gas, telephone, mobile and internet.
At Banco Mediolanum, the Evolution Account rents up to 1.41% APR for a maximum of 10,000 euros, and returns 1% of receipts. It is necessary to have 25,000 euros in products managed by the entity and be part of the Mediolanum program tailored to you.
Abanca It maintains its incentive of 300 euros in cash for new clients of the Clara Online Account who pay direct deposits of more than 1,200 euros per month. If the salary ranges between 800 and 1,200 euros, the gift is 150 euros. Requires a stay of 24 months. In case of non-compliance, the proportional part of the gross incentive must be reimbursed. The contracting of the account is 100% online. It has no commissions and allows you to pay with your mobile phone through the app. The debit card is free and the credit card is only for the first year.
Santander Bank Bonus with 150 euros in cash for new direct debits in the Santander Online Account for an amount of at least 600 euros per month and a stay of 12 months. It has no issuance or maintenance commission. It is necessary to adhere to the campaign through a form available to customers on the entity’s website. The promotion is valid until February 28.
BBVA rewards 150 euros (121 euros net) to all customers who register the BBVA Va Contigo Account and direct payroll or pension equal to or greater than 800 euros each month. It is necessary to maintain income for 12 months. The entity is in charge of bringing the salary for free with the Bank Exchange Service and offers a team of managers with 24-hour attention. It is necessary to maintain income for 12 months. It does not have commissions as long as all the conditions are met. Otherwise, the commission is 160 euros per year. The campaign ends on January 31.
Unicaja Bank sell the Bring your salary account until June 30, 2023. For domiciling the salary equal to or greater than 600 euros per month, the entity gives 150 euros in cash with a commitment to stay for 24 months. The client must comply with the Zero Plan to avoid having commissions for the usual services. Among other advantages of the account, the client can have up to 300 euros in overdraft if his salary is at least 600 euros and up to 500 euros for salaries from 2,000 euros.
pibank offers an interest rate of 1% APR for the Payroll Account when domiciling assets of at least 1,000 euros per month. It does not have remuneration caps or commissions or conditions. As a representative example, with a constant daily balance of 23,000 euros for one year, at the end of the period the customer will have received a remuneration of 230 gross euros.
The large Spanish banks continue to resist, for the moment, paying returns on fixed-term deposits despite the strong rate hikes carried out by the European Central Bank (ECB) and prefer to compete for payrolls. The experts explain that it is the abundant liquidity available that is preventing a true war for liabilities in Spain.
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