Plazo ES review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Plazo ES suits freelancers in Spain who want a savings balance and a revolving credit line in the same app, with deposits protected under EU DGS up to EUR 100,000. Running the account is straightforward, the balance is easy to reach, and the credit line is controlled from the app.
Key facts
- Best for
- Freelancers in Spain who want savings and short term borrowing in one app, with a protected deposit.
- Headline rate
- 24.19%↗
- Rate type
- Fixed↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Access terms
- Revolving credit line up to 5,000 EUR, active 24/7 and controlled from the Plazo app; granted limits run from 300 EUR to 5,000 EUR↗
- Monthly fee
- €0↗
- Account kind
- Easy access↗
- Legal entity
- IDFINANCE PLAZO, S.L.U.↗
- Headquarters
- Spain↗
- Founded
- 2021↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- No monthly fee, Fixed rate
- Official website
- plazo.es
Everyday accounts
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- Google Play
- Elsewhere
- LinkedInXfacebook.cominstagram.com
Pros and cons
Pros
- Deposits are protected under EU DGS up to EUR 100,000, so the balance sits inside a named guarantee scheme rather than resting on the firm alone.
- The savings account and a revolving credit line sit together in the Plazo app, with local iban details for euro payments.
- Support covers email, chat and phone, so phone and chat sit alongside email and a help centre.
- The product is built for freelancer, which lines up with invoicing clients and keeping euros in one place.
- The account is easy access, the kind shared by 76.7% of the accounts on the site, so money stays reachable.
Cons
- Fixed pricing is the exception here: only 21% of the accounts on the site pay a fixed rate.
- The account is built for freelancer, so a salaried saver after a plain deposit product gets a narrower fit.
- Cover stops at EU DGS up to EUR 100,000, so a very large single balance is not protected.
- The headline rate of 24.19% is set against the card and credit side, so the savings terms need reading on their own.
Who it suits
- Freelancers in Spain who invoice in euros and want the savings balance and the credit line in one app.
- Savers who want a fixed rate on an easy access balance with local iban payments.
- Anyone who values phone and chat help, since support runs on email, chat and phone.
Who should look elsewhere
- Not for salaried savers after a plain easy access account, because Plazo ES is built around freelancer and a credit line.
- AXI Card Tarjeta y Credito, for anyone who wants a card product priced at a headline rate of 21.59%.
- XTB, for trading balances at a headline rate of 4% rather than euro savings with a revolving line.
Deposit protection
Deposits are protected under EU DGS up to EUR 100,000, so a balance held with Plazo ES sits inside the European deposit guarantee arrangement rather than outside it. The scheme sets a ceiling on what the guarantee pays, and that ceiling is the figure to hold in mind once a balance grows past it. The Spanish regulator is Banco de Espana, and the licence reference for the firm is CSB 6707. Money parked above the scheme limit carries the risk of the firm itself, so a large balance calls for a different home.
Access to your money
The savings balance is easy to reach, and the account adds a revolving credit line alongside it. That line is available around the clock and is controlled from the Plazo app, with granted limits differing from customer to customer rather than sitting at a single published figure. In practice the account does more than hold money: it is also a short term source of borrowing for a gap between an invoice and its payment. The savings side pays a fixed rate, so the return on the balance is set in advance rather than tracking the market, which suits a freelancer who would rather know what the account returns.
Rates and card terms
The headline rate on offer is 24.19%, and the rate type is fixed. Read together, those figures describe a product that sets its price instead of following the market. The headline figure sits well above the 3% median across the accounts on the site, and fixed rate products are the smaller group there, at 21% of the listings. For a reader weighing costs, the headline rate is the number to compare first, and the rate is set against the card and credit side, so the terms of the savings balance are the part to read closely before committing money.
The company behind it
Plazo ES is operated by IDFINANCE PLAZO, S.L.U., a company based in Spain and founded in 2021. The firm is supervised by Banco de Espana under the licence reference CSB 6707, and it works a single market rather than spreading across borders. Support is handled through email, chat and phone, a wide mix of channels for a provider of this size. Phone and chat sit alongside email and a help centre, so a question about a payment or a limit does not have to wait on a written reply. The app is the control point for the account, the balance and the credit line alike.
How Plazo ES compares
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Where Plazo ES is available
- Available
- Spain
- Licence in Spain
- Banco de Espana (CSB 6707), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the account cost to run?+
Plazo ES charges a monthly fee of €0 on the savings account, so there is no recurring charge to budget for each month. The model is listed as no monthly fee and fixed rate, pairing no monthly fee with a fixed rate on the balance. Fees are the simple part of this product.
What rate do I earn on the balance?+
The headline rate is 24.19% and the rate type is fixed, so the return is set rather than tracking the market. That rate is well above the 3% median headline rate across the accounts on the site. Fixed rate products make up a small share, 21%, of those listings.
Is my deposit protected?+
Deposits are covered by EU DGS up to EUR 100,000, and that sets the ceiling on what the scheme pays out. Money above the limit is not covered, so the account suits a working cash buffer rather than a large single deposit held for years.
Who supervises the account?+
The Spanish regulator is Banco de Espana, and the licence reference for Plazo ES is CSB 6707. The company behind the service is IDFINANCE PLAZO, S.L.U., based in Spain. Supervision sits with the national regulator in the country where the account is held.
Can I pay in euros and take out cash?+
The account is set up for euro area payments, with local iban details, and it is an easy access account, so money is available without a term. Cash machine withdrawals come with a free allowance of €0. That suits freelancers who invoice in euros and want the balance and the line close at hand.
Is there a credit line with the account?+
Yes. Plazo ES attaches a revolving credit line to the savings account. The line is available around the clock and controlled from the Plazo app, and granted limits differ from customer to customer rather than sitting at a single published figure. The pairing is aimed at freelancer, who can draw and repay against the balance they hold.
Who is this account built for?+
Plazo ES is built for freelancer. The mix of an easy access balance, a revolving credit line and euro area payments suits people billing clients themselves, where the wait for an invoice to clear sits in the same account. Salaried savers after a plain deposit account tend to find more elsewhere.
How do I get help?+
Support runs on email, chat and phone, so email, chat, phone and a help centre are all in place. Phone and chat answer without waiting on email, which matters when a payment is due. For account questions the help centre holds the detail on limits and charges.
Sources
- plazo.es checked September 26, 2026
Backs: Local account details
“IBAN espanol”
- plazo.es checked September 26, 2026
Backs: Pricing model
“0 EUR opening fees; with a fixed nominal annual interest rate (TIN) of 21.86%”
- plazo.es/aviso-legal checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Licences
“with registered address in Barcelona, Calle Tuset 5, floor 3”
- plazo.es/linea-de-credito checked September 26, 2026
Backs: Access terms, Account kind, Audience
“money available 24/7 that you control from the Plazo app”
- plazo.es/quienes-somos checked September 26, 2026
Backs: Founded
“2021 - The ID Finance Group launches Plazo in Spain”
- plazo.es/tarjeta-de-credito checked September 26, 2026
Backs: Headline rate, Rate type
“For a 1,500 EUR Plazo revolving credit line, drawn in full, with a fixed nominal annual interest rate (TIN) of 21.86% and an Equivalent Annual Rate (TAE) of 24.19%, repaid in 48 equal monthly...”
- support.plazo.es/support/home checked September 26, 2026
Backs: Monthly fee, Support channels
“ZERO COSTS - Your debit card to pay for whatever you want - No maintenance fees”
- support.plazo.es/support/solutions/articles/101000507515-... checked September 26, 2026
Backs: Free ATM withdrawals
“For cash withdrawals at ATMs, the Plazo fee is 3.99% per withdrawal, with a minimum fee of EUR 4.99”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Minimum deposit.
Related by the facts
Plazo ES
Freelancers in Spain who want savings and short term borrowing in one app, with a protected deposit.