Five banks give away money to customers who domicile their payroll. Although years ago pots, cutlery or televisions were given as gifts, the trend now is to deliver cash directly in exchange for taking the income to the account. Some banks also accept a pension to get the incentive. It is one of the formulas of the entities to gain new linked clients.
Entities usually require a payroll for a minimum amount and require a stay of between one and three years. In case of breaching this commitment, the penalty is to return the proportional part of the money they have received. From the financial comparator HelpMyCash.com They advise “reviewing the small print of the contract, such as the permanence and the requirements of the promotion, and check if the current account in which the payroll is going to be paid has commissions”.
Although the Bankinter Payroll Account offers up to 350 euros for salary over two years, it is not a direct gift as such, but interest generated. Remunerate up to 5% APR the first year and up to 2% APR the second, up to a maximum of 5,000 euros. Thus, it is really Abanca, Cajamar, Unicaja and Liberbank, BBVA and Banco Santander that currently have gift account promotions. The objective of the banks is to increase the number of direct debit payrolls and, probably, to make the user profitable if they start using the account to pay bills or use the associated cards.
ABANCA
The entity has launched a promotion for all of Spain until March 31 that doubles its previous offer. It offers up to 300 euros for direct debiting a new salary or pension in the Clara Account without commissions. The amount must be at least 1,200 euros per month and must be maintained for two years. If the income ranges between 600 euros and 1,200 euros, the gift is up to 150 euros. Until now, it only gave 300 euros in some regions, but the entity has decided to extend the promotion to the entire Spanish territory.
The promotion does not apply to customers who have already had their salary or pension paid into Abanca at some point in the last 12 months. For tax purposes, this cash is considered income from money capital, subject to a 19% withholding tax.
The Clara Account has a free debit card, as well as an app and the online banking service and notifications. It also has a free insurance flat rate.
CAJAMAR
Cajamar entertains with 200 euros to customers who domicile a salary in the entity for the first time and assume a stay of three years. The assets must be at least 1,200 euros. If the salary is between 950 and 1,199 euros, the bonus will be 100 euros.
To join the ‘Welcome Payroll Promo’ promotion, you must go to a Cajamar branch. As soon as the system can verify that the first payroll has been entered into the account, the bonus is made. The offer, subject to taxation, is valid for the first 2,000 payrolls paid by direct debit before June 30. It is essential that the client has not had the payroll domiciled at any time in any of the entities of the Cajamar Cooperative Group.
UNICAJA AND LIBERBANK
After the merger by absorption in 2021, Liberbank customers became Unicaja Banco customers. However, banking operations will not be unified until the technological integration is complete. They share the campaign of a gift of up to 150 euros for those clients who take a salary or pension for the first time before March 31. A stay of at least 24 months is required.
In the case of Liberbank, the monthly net amount must be greater than 600 euros and the prize is paid directly into the account.
In the case of Unicaja Banco, according to the bases of the campaign, if the net amount of income is from 2,500 euros, the bonus reaches 150 euros, if it is from 600 euros to 2,499.99 euros, the gift is 100 euros . In addition, the money is delivered on a gift card.
The incentive is subject to taxation. Excluded from the promotion are those customers who have taken advantage of previous offers for the direct debit of their payroll.
BBVA
The entity offers the Va Contigo Payroll Account for young people between the ages of 18 and 29, whether they are working or receiving unemployment benefits. Only for new customers who direct deposit a salary equal to or greater than 800 euros per month and stay for at least 12 months gives up to 150 euros (121.50 euros net after the 19% withholding tax). The promotion is valid until June 30. S may benefit those who have not enjoyed in the last two years of some other promotion for direct debiting the payroll. The account offers a credit or debit card.
SANTANDER BANK
Until March 31, the bank gives away 100 euros gross in exchange for a new salary, pension or recurring income of at least 600 euros per month in a Santander One Account or a Smart Account, among others. The client must comply with a permanence of one year.
Only consumers who have not had their income domiciled in the bank in the previous four months will be eligible for the campaign. The bonus is subject to the corresponding tax withholding, which the bank will make by paying the customer the rest, 81 euros net.
