ABANCA review

The remunerated savings account pays a headline rate of 2% and the rate is fixed. That sits below the savings median of 3%, so the account reads as a parking spot for cash rather than a product built to grow it.

The monthly fee is €0, so the account falls in the no monthly fee group and costs nothing to maintain. That is in line with the savings median of €0 across the products compared here.

The minimum deposit is €0, so there is no opening hurdle, and ABANCA ranks 1 of 370 brands on that measure. The account is an easy access account rather than a fixed term product, so nothing needs locking away.

Deposits are covered by EU DGS up to EUR 100,000, and the account sits with ABANCA Corporación Bancaria, S.A., regulated in Spain by Banco de España under licence 2080. The balance therefore holds with a supervised bank rather than a standalone platform.

Money is always available and there is no notice period, so a withdrawal does not wait out a term. The account is easy access, which suits anyone who may need the balance for an unplanned cost rather than locking it into a fixed rate bond.

It is a fully online account, with operations handled through the app or online banking. Support runs through email, chat and phone, so phone, chat, email and a help centre are all listed, alongside a community space.

The legal entity is ABANCA Corporación Bancaria, S.A. in Spain, founded in 2011. It is a bank rather than a payments firm, and the Banco de España licence is recorded as 2080.

The account is built for a Spanish market, with deposits covered by EU DGS up to EUR 100,000 and euro accounts. Readers who want a larger headline figure should weigh 3.3% and 24.19% before settling on the easy-access option.