Sabadell pays €50 for opening an online account in Spain
Does Sabadell really pay €50 for opening an online account? We analyse the promotion, the risk of hidden fees and customers' real experiences.
English · Original discussion in Spanish · Published
Sabadell's €50 online account bonus: a trap or a bargain?
Banco Sabadell is offering €50 net to anyone who opens an online account using a friend referral code, with no need to have your salary or direct debits paid into it. The promotion, valid until 30 April, has sparked heated debate between those who see it as easy money and those who distrust the bank's past practices. The question is not whether the €50 arrive, but what happens afterwards.
How the giveaway works
The offer is simple: the new customer enters a code when signing up, and both the invitee and the referrer receive €50 within five business days. The account is 100% online, with no declared fees and no binding commitment to stay. On paper, it's a bargain: €50 for five minutes of paperwork. However, several analysts point out that the real cost lies not in signing up, but in maintenance over the medium term.
The scepticism of those who have been there before
Numerous testimonials describe past experiences with Sabadell in which fees that were promised to be free appeared later on. From quarterly charges of €20 to life insurance added to mortgages without explicit consent, the bank's track record leaves its mark. The closure of ActivoBank, its online subsidiary, is also remembered, whose customers were transferred to conventional accounts with different terms. Distrust extends to customer service, especially for complex procedures such as inheritances. Against this, defenders of the promotion argue that the account can be closed at any time and that Sabadell is no worse than other banks such as CaixaBank or Unicaja.
Is the risk worth it?
The balance tips towards scepticism. Although €50 is attractive, the opportunity cost of having to monitor the account, dispute fees or deal with poor customer service may outweigh the benefit. Those who already have a relationship with Sabadell (mortgage, salary) can take advantage without surprises, but for everyone else, the promotion smells more like customer acquisition than a selfless gift. The question left hanging is whether those €50 cover the time and hassle that may come afterwards. Experience says no.
Related discussions in the forum
Banco Sabadell is offering €50 net to anyone who opens an online account using a friend referral code, with no need to have your salary or direct debits paid into it. The promotion, valid until 30 April, has sparked heated debate between those who see it as easy money and those who distrust the bank's past practices. The question is not whether the €50 arrive, but what happens afterwards.
How the giveaway works
The offer is simple: the new customer enters a code when signing up, and both the invitee and the referrer receive €50 within five business days. The account is 100% online, with no declared fees and no binding commitment to stay. On paper, it's a bargain: €50 for five minutes of paperwork. However, several analysts point out that the real cost lies not in signing up, but in maintenance over the medium term.
The scepticism of those who have been there before
Numerous testimonials describe past experiences with Sabadell in which fees that were promised to be free appeared later on. From quarterly charges of €20 to life insurance added to mortgages without explicit consent, the bank's track record leaves its mark. The closure of ActivoBank, its online subsidiary, is also remembered, whose customers were transferred to conventional accounts with different terms. Distrust extends to customer service, especially for complex procedures such as inheritances. Against this, defenders of the promotion argue that the account can be closed at any time and that Sabadell is no worse than other banks such as CaixaBank or Unicaja.
Is the risk worth it?
The balance tips towards scepticism. Although €50 is attractive, the opportunity cost of having to monitor the account, dispute fees or deal with poor customer service may outweigh the benefit. Those who already have a relationship with Sabadell (mortgage, salary) can take advantage without surprises, but for everyone else, the promotion smells more like customer acquisition than a selfless gift. The question left hanging is whether those €50 cover the time and hassle that may come afterwards. Experience says no.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (38 replies).
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