2023-11-25 10:37:10
Black Friday 2023 is here. This phenomenon of massive purchases that conquers the last Friday of November is closely followed by Cyber Monday, which is celebrated the following Monday, November 27. The discount season has not only revolutionized the way we buy, but also the way banks interact with their customers, becoming a strategic time to offer new products.
Several weeks before, some banks such as BBVA and Banco Sabadell already anticipated consumer expectations with promotions. It is as if the discount fever took over the financial scene, turning these dates into a prolonged period of opportunities for customers and non-customers.
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This week, ING, Banco Santander, Bankinter, EVO Banco, Kutxabank, EBN Banco and MyInvestor have announced new offers. It seems that they have seen a window of opportunity in Black Friday and Cyber Monday and have implemented their strategies, with offers and discounts on a wide range of financial products and services.
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Big banks earn 20% more in the first half, up to 12,385 million (Europa Press)
In this scenario, competition between financial institutions intensifies, and consumers can benefit by having access to a variety of financial offers that go beyond traditional discounts on consumer products. The latest to offer advantages to its clients has been MyInvestor. This bank eliminates the management fee for its investment products between November 24 and December 31. Your clients will not have to pay their investment commissions, for a maximum amount of 20,000 euros.
One of the promotions that most banks launch are discounts on loans. For its part, Banco Sabadell lowers the price of its pre-granted loans of up to 60,000 euros, which can now be contracted from 4.75% NIR (4.85% APR). However, HelpMyCash emphasizes that the offer is not for everyone, but for some selected in a lottery. They will be able to contract the loan from November 7 to 30 on the website or through the bank’s application and have the money in two minutes without the need to direct deposit your payroll or take out any insurance.
However, the loans offered by Unicaja on Black Friday start at 6.95% (7.17% APR) and without opening or study fees or early cancellation fees. But like Sabadell, this offer is not for everyone but for customers who have a pre-approved loan of up to 50,000 euros with a repayment period of up to eight years.
Discounts on bank loans (Freepik)
On the other hand, ING has opted for discounts on its Orange Loan, available instantly for clients of the entity and for those of other banks with a discount on the usual interest rate. The offer is personalized for each client in pre-granted loans. HelpMyCash recommends that customers who are part of ING “take a look at your email or online banking to see if you have a pre-approved loan,” since the promotion ends on November 24. And, if you are not yet a customer, you can qualify for this discount if you take out a loan through an online account at the bank. The most recommended by HelpMyCash experts is to open a NoCuenta Account without commissions and without conditions.
Finally, the Bilbao-based bank Kutxabank has launched a loan campaign for nearly 1.2 million customers who, as of November 20, can get a loan of up to 60,000 euros with a repayment period of between 3 and 84 months.
Together with Banco Sabadell, the Basque bank BBVA will give away 50 euros in cash when you open the BBVA Commission-Free Online Account using the code CARD50 and make a minimum payment of 50 euros with the Aqua debit card linked to that account.
Only new clients can take advantage of this offer, who will have to stay for a minimum of 45 days and up to a maximum of six months, which is the period BBVA has to deposit the 50 euros. The promotion is available until November 26.
Banks ‘suffocate’ mortgage holders and savers to obtain historic benefits.
Not only are there discounts for loans, but some banks are betting on credit cards as a key element to attract new customers. Banco Sabadell offers the Classic credit card without issuance or maintenance fee when contracting it from November 6 to 28. In addition, you can recover 5% of your purchases until January 5, 2024, without limit. Request the card through the app or website to use it immediately online, while you wait for the physical version. The Sabadell Online Account is free and without conditions.
At Banco Santander, when you sign up for a credit card before November 30 and spend at least 100 euros, you receive a 20-euro gift. If you already have a card, you can finance purchases from November 24 to 27 in three months without interest. The application requires the signing up of a checking account at Santander, the Online Account being free and without maintenance costs.
Banks Santander, Unicaja and Banco Sabadell offer gifts and discounts on their credit cards (Getty)
In this period of sales, a wide range of banking offers are being considered. Free money? If luck is on your side and you win the Sabadell draw, ten people will be lucky to be able to recover all the money they have spent on their purchases with their card between November 7 and 30.
Offers for renting your car and technological products, investments in Treasury bills without commissions, discounts on home, life, health, accident or car insurance… These are some prizes offered by Banco Santander. However, as Estefanía González, Kelisto’s personal finance spokesperson, recalls, “banking promotions are punctual” and each bank sets its deadline for these offers.
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There are also discounts on the contracting of deposits. EBN Banco has doubted the profitability of its deposits until November 27, 2023, the date until which you can contract deposits for 4, 12 and 24 months with an extra profitability. Additionally, during Black Friday you can get a check for up to 100 euros to spend on Amazon if you invest in Treasury bills, investment funds or successful portfolios.
Bankinter, for its part, is launching to offer stock market discounts and free installment payments, in addition to offering a 2% discount when purchasing Amazon checks through the bank’s App.
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