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Sabadell puts pressure on the sector and extends the increase in its online account to its already clients

Date: June 20, 2024 Time: 11:04:09

The war in the field of paid accounts has just experienced a new episode. Banco Sabadell is contacting customers who have signed up for their ‘Online Account’ since last September to update their offer with the new current remuneration, which since July 1 is 2.50%. In this way, it seeks to retain its customers by applying the new profitability improvements to its account.

The entity headed by César González-Bueno has been one of the most proactive entities in the field of remunerated accounts as a way to attract customers and liabilities through digital channels. The CEO of the entity acknowledged in the press conference after the results of the first half that “the digital transformation will allow us to increase our customer base and direct business” and little by little this strategy is paying off and more than 50% of new registrations come through this route.

These figures, in part, are thanks to the aggressiveness of the campaign that has led the entity to raise the conditions of its Online Account. The last one, on July 1, when the remuneration went from 2% to 2.50%. Likewise, it had also previously improved the money that it gave away for domiciling the payroll or income for a minimum amount of 700 euros from the previous 150 euros to the current 200 euros. At the same time, the bank will return 3% of the purchases made with your debit card in summer.

Profitability of online accounts for clients

According to sources from the entity, the beneficiaries of the update of the conditions are a good part of the clients. In addition, Banco Sabadell follows the movement of other entities that improve conditions for existing customers, such as MyInvestor. The neobank updated the remuneration of its ‘online’ account to existing customers as long as they increased their position in the bank and obtained a return of 2%. Other entities, such as EBN Banco, have just reopened their Synicon deposits, which already offer a return of 3.20% to new clients.

ING is another of the entities that is committed to building customer loyalty, by extending the remuneration of its Payroll Account with a remuneration of 1.25%. Thus, the Dutch bank improved the remuneration of its Payroll account for both customers and new ones. Instead, Openbank has opted to offer better conditions to new customers, both in its Welcome Account with Payroll or its six-month Deposit, which offers a remuneration of 3.07% for new income.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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