CAB Hint on Making Savings – Free Banking

Free Banking. Free from commissions and charges.

The suggestion is to discuss with your bank the types of accounts with no costs or commissions. Your bank could have many offers especially for those who have regular transfers into their accounts such as wages or pensions. Also can apply to autonomos (self employed who pay their monthly autonomos charges from their account. The different offers from various banks would be too numerous to mention here. Take into account that the banks can change their systems and offers and should contact you.

Example from a Spanish bank.

Monthly transfer of not less than 300 euros.
Use of credit or debit cards at least six times each trimester. This use must only be in euros and locally or via internet.

Following the above, this bank will not charge interest or commission.

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.