The Internet has allowed many people flee from traditional banks where commissions and account maintenance He steals euros to bet on online banks (especially because you don't have to go to an office to operate with them). But, which are the best online banks?
Below we talk about several of them, their characteristics and everything they offer. Maybe your next bank is among that list. Go for it?
N26
We start with a bank that has been around for quite some time and about which you can find many opinions. Their accounts do not carry commissions and there are no requirements to be able to open one. It is compatible with Bizum (something important for many) and has a savings account of up to 2,26% APR.
But not everything is good. To begin with, there can only be one account holder, not two or more as happens in other banks. Additionally, there is a commission for each cash deposit made. This will depend on the money that is deposited.
Wise
Wise is one of the best online banks to have accounts in different countries (and operate with them from the same application). For example, imagine you have a client from the United States and another from the United Kingdom. In addition to your Spain account. Well, through Wise you can open an account in the United States and another in the United Kingdom.
What does that work for? Well, to avoid the huge commissions that the bank charges you when converting dollars or pounds to euros. It doesn't mean that Wise doesn't charge them, in fact it does, but its fees are much lower than traditional banks.
Revolut
Revolut, along with Wise, is another of the best online banks, and many use it when traveling. And the thing is, when it started, it really was a card with which you could buy. But over time it became a bank. It is a bank that It does not charge commissions or set conditions when managing your account. It does not have its own offices or ATMs, which means that cash deposits cannot be made (for this you have to make a transfer or use another bank card).
Your account management is done only through the mobile application. And you can also change euros into more than 150 different currencies without being charged commissions.
Openbank
The first thing we must say about Openbank is that, although it is an online bank, it belongs to Santander. That is, it is another Santander bank business in which they offer you an online bank but related to them.
Open an account in Openbank allows you to withdraw or deposit money through the Santander ATM (which avoids the failures of previous online banks, not being able to make cash deposits).
There is no requirement to get an account, since you do not need deposits, purchases with the card, direct debit of receipts... And it also has no commissions, so you do not pay maintenance, not even for the debit card.
WiZink
Another of the best online banks is this neobank. It is mainly used for savings accounts, but you can actually use it however you want.
Of course, it has a special feature: that you have insurance for your first 100.000 euros per person and account for the Spanish Guarantee Fund. That's always a good thing in case you get robbed online.
As negative points, your savings account does not allow direct deposit of receipts or other operations. It is true that opening it is easy (because they do not ask for payroll or minimum income), but operating with it may fall short. For this reason, many choose to have this as a savings account and have another online to deposit money into it.
Abanca
Abanca is an online bank located in Galicia. This implies that it also insures your first 100.000 euros through the Spanish Guarantee Fund.
It does not charge commissions or account maintenance. Transfers are free of commissions and there are no commissions for issuing or maintaining the card.
The good thing about Abanca is that you can withdraw money from any EURO 6000 ATM (maximum 5 times a month) and in its own branches. In addition, it has a system to help you save, and when you exceed 3000 euros the balance goes to an account where they pay you for having your money there (don't expect high interest, but it's something).
bnext
We continue with another of the best online banks. Although it most likely sounds more like a debit card to you. Its beginnings were like this, a card that you recharged to withdraw money from any ATM in the world. But now it's a bank.
Among its characteristics, you have zero commissions (as long as you sign up for the standard account). They also give you a free prepaid card. This allows you to withdraw money for free without commissions three times a month in Spain (and another three times outside the country).
In addition, you can direct debit the receipts and everything you have to pay.
Imagine
And if we have told you before about the Santander online bank, Imagen is the LaCaixa online bank. You can only manage it through the mobile application and it does not charge you fees for having the account or for the cards.
The good thing is that you can withdraw money using LaCaixa ATMs for free and deposit it into your account. It has a Spanish IBAN as well as functions for Bizum and you will have a free debit or credit card. As for making transfers, they are also free if they are to the European Union.
ING
We end up with one of the best online banks and one that has been operating for a long time. At first no one viewed it favorably because there were no offices, but the truth is that the good interest they gave on the accounts made many people try it. Of course don't wait for them now...
Regarding its characteristics, It does not charge commissions, the cards are free as well as transfers. But here they do require having a payroll or income of more than 700 euros per month.
As for having your money, you can withdraw it using ING ATMs or those of Banco Popular, Targobank or Bankia.
These are not all the best online banks you can find. In reality, there are more, and even more and more will come out over time. Our recommendation is that you review each of them very well before making the final decision to know the advantages and disadvantages of each one and thus be able to work with them. Furthermore, it does not mean that you cannot have multiple accounts. Do you recommend any of us? Have you had good or bad experiences with them?