Business · Companies · 1 day ago
Four in five bank customers may switch for better savings rates
A survey of more than 1,000 people found that 80% of bank customers in Spain may switch banks, up from 62% in 2023.
The main reason is to get better returns on savings, chosen by 79% of those surveyed.
Some banks offer savings accounts paying 3% or more, but those rates are reserved for new customers.
That can leave long-standing customers with worse terms, and staying with a bank that pays no interest can mean losing money as prices rise.
Spain’s rules make switching easier: banks must coordinate, and the free transfer process takes about 15 days.
No bank in the survey had more than 40% of customers who said they would not switch; Kutxabank had the highest share willing to stay, at 34%.
A HelpMyCash survey found that 80% of bank customers would consider switching banks.
The survey included more than 1,000 people.
The main reason respondents gave for switching was to earn more on their savings.
HelpMyCash said some banks offer new customers savings accounts with interest rates of 3% annual equivalent or higher, while existing customers may not get the same conditions.
The share of customers willing to switch rose from 62% in 2023 to 80% in 2026.
- Who
- Bank customers surveyed by HelpMyCash.
- What
- Four in five said they would consider switching banks, mainly to get better returns on savings.
- When
- The survey figures cover 2026; the article was published on November 7, 2026.
- Where
- Spain.
- Why
- Better returns on savings were the main reason respondents gave for considering a switch.
This story does not have two clearly opposing sides.
Spain approved Royal Decree-Law 19/2018, requiring banks to communicate with one another and provide a free financial portability service.
The share of customers willing to switch banks was 62%.
The share reached 80%, according to the HelpMyCash survey.
- Survey size
- More than 1,000 participants
- Customers considering a switch
- 80%
- Main reason to switch
- Higher returns on savings; chosen by 79% of respondents
- Rate examples
- Some accounts offered 3% annual equivalent or more
- Banks cited
- Trade Republic, Bankinter, Kutxabank and Revolut
- Most willing to stay
- Kutxabank, 34%; ING, 26%; Bankinter, 21%
1 source
What people are saying
Staying with a bank that pays no interest means losing money.
If the best conditions are reserved for newcomers, the easiest way to get advantages is to switch banks and stop being loyal to our usual bank.