The four keys to choosing the best account without commissions

Uncomfortable, elevated, difficult to justify and understand, annoyingly recurring…. There are several characteristics that are associated with bank account commissions.. Above all, from the customer's perspective. Instead, they are a powerful source of income for banks.. In fact, that is the reason why it seems difficult for them to disappear.

However, the digitalization of the financial sector has democratized products and their conditions, increasing competition and supply.. So “today there are various and multiple accounts without commissions and with other attractive characteristics, even though these types of charges have not completely disappeared,” they point out from the comparator Helpmycash.

The fact is that faced with an offer of commission-free accounts as wide as the current one, you have to look at another series of aspects when deciding.. Specifically, in four differentiating factors that will be the final weight that tips the scales.

1. Online operations

The online world has not only brought a more global and open market in terms of products and services.. It has also required, for the good of all, an adaptation to the digital environment, both from banks and clients and, as an example, the birth and good positioning worldwide of various entities that stand out for their digital operations.. The app is enough for the client to carry out any management or operation.

In this sense, Revolut stands out and its popular Revolut Account, specially designed for those seeking versatility and efficiency in their transactions.. It offers an online banking experience without borders, since it allows you to withdraw money anywhere in the world without costs and with the best exchange rate for payments in other currencies. In addition, it offers points and discount programs, accounts with returns of up to 3.1% and investment possibilities with bitcoins and stocks as other incentives.

2. Gifts, returns and discounts

Precisely, like Revolut, other entities and banks, in addition to eliminating commissions, seek to attract new customers with another classic formula: gifts and remunerations.. A historically proven commercial hook that today can also be the determining factor.

And if we talk about remunerating the client, the commission-free account that must be mentioned is the Sabadell Online Account.. Just as there are entities that give away products or discounts, this account is a direct way to make savings profitable with an attractive interest of 6% TIN the first three months and 2% TIN (3% APR) afterwards.. But not only does it offer profitability, it also rewards you with a 3% refund on electricity and gas bills, along with free debit and credit cards.

3. The accessibility of the requirements

At the same time, not every client wants access to everything, nor do all banks want any client.. Therefore, a third factor to consider when choosing a commission-free account is the rest of the conditions and the limits it sets.. That is, if it is more or less flexible in the requirements. In any case, in this aspect and again due to the democratization of the market, there are options for everyone, which do not require any type of connection with the entity.

Without going any further, the Welcome EVO Smart Account is an accessible and generous alternative in terms of profitability for a wide range of profiles.. With an attractive 2.85% APR and the possibility of opening a deposit at the same time with identical interest, it has a policy without commissions and without conditions. In other words, it is not necessary to direct the payroll or receipts to hire it.

4. Cards and ATMs available

Finally, although there is talk and more and more value is given to online operations, digital payments, etc., for many it continues to be vital to have a wide ATM network, as well as cards with a reduced cost. Banks also know this and that is why the options for this type of profile are still very present today.

A good example of this is the Santander Online Account, which stands out in terms of comfort and accessibility.. In addition to having no commissions, it gives away up to 400 gross euros for direct debiting the payroll or pension. But, above all, it is ideal for those who use the card regularly, since it offers the debit card completely free. And, obviously, being one of the largest banks on the planet, the availability of 30,000 free ATMs around the world makes it a perfect alternative for those who prioritize this fourth factor.