The most solvent accounts of May 2024

current accounts This is the most basic banking product for any client, bank accounts lives where we put our savings and which we can use with complete freedom and flexibility. And we say that this is the most basic product because the rest of the products that we enter into at our financial institution must be associated with a checking account: a credit or debit card; mortgage or any other type of loan; direct debit of receipts; collection of wages; investing in funds… But lately we are increasingly hearing about paid accounts and we want to explain what they consist of and what they offer better profitability this month April 2024.

What is a paid account?

So far in the 21st century, having a bank account has not brought any economic return. On the contrary, among commissions which we pay to banking institutions, and due to inflation, the money we deposit into our account every year loses some of its value. In recent years, in an environment of low interest rates and low inflation, banks have understandably been reluctant to maintain cash and checking account balances and have not offered any bonuses to customers.

But for some time now, interest rates and inflation have increased significantly. This means that the loss in value of money from year to year is much more pronounced: with 100 euros we buy much fewer things today than with 100 euros a year ago.. So, on the one hand, it becomes more profitable for banks to have money for lending, but on the other hand, in order to retain clients, they have to make tempting offers, otherwise they may leave for another bank. And one of the most immediate decisions was pay the bills, pay the client interest for maintaining a certain balance. Now customers have to figure out what best paid account.

By the way, such account rewards are not new: they were common in the 80s, in a high-stakes environment. This is what was lost in the 90s and what now, 25 or 30 years later, we have restored. It’s a question of supply and demand.

Characteristics of paid accounts

Find best paid account, we must pay attention to certain characteristics. First of all, of course, the interest that the account gives us. AND We found some that claim 6%. This very high profitability, but we must pay attention to the limitations: usually this interest persists for some time, several months, and then drops significantly. And it is also usually limited to a maximum amount.

Depending on our circumstances, We might be interested in a paid account with a lower interest rate, around 3%, but it returns more capital and over a longer period. Everyone must calculate how much profit they will receive. Another aspect we need to take into account is that profitability of paid accounts This depends on the economic context and the fact that fluctuations in interest rates and inflation will lead to renegotiation of terms from time to time.

Another element we must include in the equation is the commitment (or not) to enter into contracts for related products. Sometimes, in order to get the maximum bonus from our paid account, we must take out credit cards or other products from the financial institution itself, make a minimum monthly transaction, directly debit certain receipts… In some cases, these actions have a certain cost. , so we need to see how this affects our economic efficiency.

Anyway, paid accounts They are an excellent alternative to keeping money on deposit without any reward. They do not fully offset the rise in inflation, but they do soften its effect, and of course the interest is subject to Treasury tax and the profits, however small, are integrated into capital income. But If we know how to explore our options well, paid accounts become a flexible and immediate product that also gives us some return.

Best paid accounts of May 2024

Below we give you detailed information about some of the paid accounts the most interesting thing that exists on the market at the moment

Source: Kelisto with information from the websites of banking organizations. Data is current as of 04/01/2024. When compiling this “top 10”, only offers from organizations from which you can purchase products are taken into account. Kelisto.es and who agreed to become part of this rating. Offers are sorted by TIN, from largest to smallest.