When you ask anyone how to make money a bank will respond to granting loans, investing in securities … that’s true, but many do not know that the biggest source of profits of banks are commissions. It can be said that banks and charge fees for absolutely everything.

The committees are established by each institution, in consultation with the Bank of Spain to ensure that meet certain requirements and comply with the law.

They must be necessary, ie to respond to a service, and not covered by another product contracted by the client, must be communicated to customers, and posted on the bulletin boards of offices, are not abusive (on this We can discuss long) can not be charged for transactions carried out by failure or negligence of the entity can not be collected if not on the agreement and can not exceed a fixed amounts (eg 1% in the cancellation rate mortgages variable).
Bank charges are applied more

The fees that normally apply are: for transferring money, keep accounts, withdraw money from cash, to have cards for study and / or create a credit, to cancel it, for having an overdraft …

Actually, it is difficult to escape them. The only thing we can do is compare between different entities and seek the lowest commission, because although in theory the commissions should have the degree of marketability, consumers often do not find ourselves in a strong position to the institution .

If you need a loan and the Bank X gives you, surely you can not get to demand that you remove this or that committee. In Spain it seems that bank customers tend to be quite tolerant and slightly combative when accepting payments imposed on us. In another article we’ll discuss how we can be more effective when negotiating any bank fees.
Average annual expenditure of a person in bank fees

A study by Consumer magazine, the annual expense of a person in commissions can vary between 40 and 210 euros, as in a normal situation is to have a checking account, a credit card, a debit card, make an average of six transfers, and any income checks.

Moreover, as a credit request must checkout and pay the relevant fees and opening study … and do not ever forward anything of debt, because then the commission will also pay partial or total early termination (see article on repayments mortgage). And if we find a bank that will lend us the money something cheaper, take us there we will bring the mortgage to pay the relevant commission of subrogation.
Entities that do not charge bank fees

Lately we see in many media entities ads say not collect commissions. We appreciate the effort, but not we really saying that all this has buts and small print.

There are a number of committees (such as account maintenance) not charged to creditworthy customers or shareholders, but others continue to claim (as the opening of mortgages).

Other entities not condition the charge you a wide range of commissions to you customer loyalty with them (including payroll, insurance, mortgages, accounts, cards, pension plan …). So far recovered that lose revenues.

If we said at the outset that the commissions as a whole are the main source of profit of entities clearly we will never eliminate them entirely. Only eliminate the commissions financial (maintenance of accounts, transfers to an amount, issuance and renewal of cards). This is business. And no business sacrificing your goose that lays golden eggs. At best, let in 50 golden eggs make a normal one.