Some bank customers pay over €270 a year in commissions

MADRID -- A recent study by the consumer group Facua reveals that clients of Barclays, Santander, Unicaja and La Caixa are the ones who pay highest commissions, which can reach a hefty €270 per year or more. According to the survey, the median amount paid is €168.73 if your paycheck, benefits or pension are not automatically credited (domiciliado; here we use 'domiciled' for no reason except convenience). Below is a sample listing of the costs:




Barclays                        €271.41
Santander                  248.40
Unicaja                  242.40
La Caixa (or CaixaBanc)  239.90

At the other end of the scale are ING, where commissions are close to €25 per annum, and Triodos Bank, at around €30.

Facua's report takes into account an 'average' customer who pays six 'domiciled' bills per year and has at least one credit payment. He or she makes two annual 'un-domiciled' money transfers, is overdrawn twice in the year and the bank notifies the customer about being in 'the red'.

It is also true that the banks will charge a lot less commission if the client has his pay check, benefits and/or pensions 'domiciled'. The only two, however, who do not charge a maintenance fee are ING (a subsidiary of Santander) and Triodos Bank. Nor do they charge an administration fee, a check deposit or transfers, whether or not your paycheck, etc. is 'domiciled' with them.
(Source: Facua)