New commissions and portability in bank accounts

From within a few weeks, banking users may be in luck due to the new banking regulations that have been approved by the Spanish executive. With the main objective of sight bank accounts. From two points of view, on the one hand, the derivative of your expenses. And on the other hand, the ease of changing your savings account at any time in your life. From both points of view, there is no doubt that you will benefit from the application of the new regulations.

One of the factors for the approval of such measures is the homologate with the countries around us. And where, until now, Spanish users have been clearly disadvantaged in their personal interests, as you will see from now on. On the other hand, you will have the opportunity to collect the best information to get out of your relationships with credit institutions well. Something that will come in handy to improve your checking account balance at the end of the year.

From this general perspective, the first news that will affect you with respect to the savings accounts is that from a few weeks you will have to pay less commissions and even all the management and maintenance expenses of this kind of banking products. To the extent that it will affect all users, with the sole requirement of becoming a account holder of these characteristics. Not surprisingly, everything that surrounds these important news is intended for this financial product. Not surprisingly, it is the most hired by any customer profile. Above others certainly popular with the same.

Commissions: up to 3 euros

It is now time for you to know what commissions you will have from now on for hiring basic bank accounts. The new regulation requires that financial institutions they will not be able to charge you more than 3 euros per month. Or what is the same, an annual cap of 36 euros. Although it is not an excessively demanding amount, at least it will help you contain expenses and have more money in your balance every year. It is something that will benefit you from all points of view, as you will see from these precise moments.

Well, within this general context presented by basic accounts, the main novelty is that banks will not be able to bend you really abusive rates, as it happens up to now with the commissions of the savings accounts. Because in effect, from the moment of its application, they will not be able to charge you any of the amounts that are charged to your basic account. From this point of view, there is no doubt that you will benefit from this measure. Because the scales of these rates will range from zero to three euros.

Claims in improper charges

As a consequence of the application of this banking measure, banks will no longer be able to exceed the amount of these notes. Because if so, you can claim that amount for improper collection and financial institutions would have to get back to you as soon as possible the aforementioned amounts. Beyond other incidents that would be generated by this bad banking practice. Not surprisingly, the promotion of greater transparency is one of the main objectives of the implementation of this new regulation. Above other technical considerations derived from its implementation.

However, the date on which this banking measure will come into effect has not yet been defined. Predictably it will arrive with the beginning of autumn, By the end of September or in the first days of October. In this way, you will still have to wait a few weeks so that the banks cannot exceed three euros in the payment of commissions for their basic accounts. Not surprisingly, it is a plan to match other countries in our closest environment. As for example, in the nations of the euro zone. In this sense, you cannot forget that it is a recommendation made by community institutions and that their objective is to protect bank users.

Free portability on accounts

In any case, the limitation in the commissions of the savings accounts is the only measure that you will notice in a few weeks. If not, on the contrary, it also has to do with the freedom to switch accounts. Because in fact, it is also contemplated that you can port your bank account to another of the same characteristics for free, as long as this process is not excessively complex do not exceed 13 days. Through a performance that is very similar to that of mobile phones. That is, you will have more facilities to change accounts and take advantage of the many offers that banks have been developing.

In any case, there is a substantial difference in this whole process and it is the one that refers to the current account number. Because it won't be the same, if not that on the contrary they will be other different digits. This factor may have some other complication for the direct debits of domestic bills that you have at that time. As for example, those of water, electricity, gas, telephony or any other. Not in vain, you will have no other solution than to notify them of the change in your checking account so that they can correctly formalize the charges on account of these services for the home.

Advantages of this measure

In any house, the improvement to port your checking account to another entity entails a series of benefits that you should take into account from now on. Some of them are very relevant and that can help you manage this financial product with greater flexibility from the moment the aforementioned measure comes into effect. Among which are the following benefits that we expose below.

• You will have one greater freedom to choose which is the basic account that best suits you at all times. Within an important offer that banks have prepared for you and that are marketed under different modalities and services.
• From the beginning you will eliminate the biggest problems that it entails carry the current account. So that from those moments this operation does not tax you or at least the decision you have made regarding this financial product can be eternalized.
• You can do this operation perform as many times as you want, that is to say in an unlimited way and where your decision to choose the one you consider the best current account to defend your personal interests will prevail.
• It is a very effective strategy that will help you accept promotions that banks have been promoting. With more aggressive models where more services and benefits are included.
• You will not have to maintain any period of permanence. But on the contrary, you can change your bank account at any time and on the date you consider appropriate. Without restrictions of any kind and without canceling the services derived from your hiring.

How does it affect interest?

On the other hand, the implementation of this measure has nothing to do with the profitability of its hiring. It will remain the same as until now, without any kind of variation. Because the interest of the current accounts have nothing to do with the commissions and other expenses in their management or maintenance. They are completely different things and in any case, they will have to respect the remuneration they offer you at the time of the change. Always under very weak commercial margins as a result of the lowering of the price of money that the community bodies have put into practice.

From this perspective, the main effect that you will notice with the application of this new banking measure is that the real profitability that this product generates will be higher. As a consequence of the elimination of these expenses so little desired on your part and that they can reach up to about 100 or 200 euros every year. Now that money will go in its entirety so that you can have it available in this banking product for the management of your savings. That is, you will have greater liquidity from that precise moment. It is not much, but it will serve to defray other expenses at home or simply give you the odd personal whim.

In any case, it is very convenient that you analyze from now on what are the contracting conditions of your personal account to determine whether or not it is profitable to change this financial product. Because it may be a free job, but it takes time that you could dedicate to other tasks or activities. Because many times the solution to this problem is not to change accounts, but simply to negotiate it with your usual bank. Always based on your personal interests, which is ultimately what it is all about. In any case, it is good news to protect your position as a bank user.