Changing your payroll bank may mean an additional income of several hundred euros, but not all offers are as profitable as they seem. The main Spanish financial institutions maintain intense competition to attract new customers through cash bonuses, interest-bearing accounts, and gifts. However, a 500-euro promotion does not necessarily mean that the user will receive that amount in their account, since the incentives may be subject to tax withholdings, minimum income requirements, and commitment periods.
The difference between the money advertised and the amount finally received is one of the main aspects worth reviewing before opening an account. For example, a gross bonus of 500 euros becomes 405 euros after applying the usual 19% withholding, while an incentive of 400 euros is reduced to 324 euros. In addition, some banks deliver the amount all at once, but others distribute it over 12 or 24 months, so that the customer only receives the full amount if they meet the conditions throughout that entire period.
The promotions consulted for November 2026 reflect important differences among entities such as BBVA, Santander, ABANCA, Unicaja, Banco Sabadell, Bankinter, CaixaBank and imagin. While some allow the account to be closed without penalty, others require keeping the payroll for two years or remaining a customer for up to four. Banco de España recommends examining these conditions before accepting an offer, since the initial incentive may not compensate for certain obligations.
How much net money do you really receive for having your payroll deposited into the account
The bonuses that banks offer for having your payroll deposited are generally taxed as income from movable capital, so the entities apply a 19% withholding when applicable. This deduction is made before the incentive is credited, unless the promotion explicitly indicates that the advertised amount is net.
The difference can be seen with several examples. A gift of 600 gross euros means an initial income of 486 net euros, while a promotion of 450 euros leaves 364.50 euros and another of 350 euros becomes 283.50 euros. If the bank advertises 250 net euros, as occurs with certain offers from CaixaBank and imagin, that amount already includes the withholding.
These are some of the promotions announced by the banks and their equivalent after applying the 19%:
| Bank | Announced incentive | Net amount |
|---|---|---|
| Bankinter | 600 € gross | 486 € |
| ABANCA | 500 € gross | 405 € |
| Unicaja | 450 € gross | 364,50 € |
| BBVA | 400 € gross for payroll | 324 € |
| Banco Sabadell | 400,08 € gross | 324,06 € |
| CaixaBank | 308,64 € gross | 250 € |
| imagin | Net announced incentive | 250 € |
Important: the net amounts reflect the initial 19% withholding. The promotions are subject to minimum payroll, permanence, and other conditions. Some bonuses are paid monthly and not all at once. Reference offers from November 2026, subject to change.
The net amounts are those resulting from the initial 19% withholding, not necessarily the definitive tax effect in the Income Tax return. In addition, this comparison includes only the payroll incentives and does not include interest generated by savings, bill bonuses, or other commercial advantages.
ABANCA offers 405 net euros, but requires two years of permanence
One of the most direct promotions is that of ABANCA, which offers 500 gross euros, equivalent to 405 net euros, to new customers who direct deposit a payroll or pension of at least 1,200 euros per month.
The entity also includes a lower incentive for those who have income between 800 and 1,200 euros, which stands at 150 net euros. The main difference compared with other promotions lies in permanence: ABANCA requires maintaining the direct deposit for 24 months.
If the customer fails to comply with that commitment before the end of the period, the bank may claim the return of the proportional part of the gross incentive corresponding to the remaining months. This means that changing the payroll again after receiving the gift could generate a cost, even though the user has already spent the money received.
The promotion is aimed at new customers and excludes certain cases, such as having had the payroll deposited recently at the entity. According to the conditions published by ABANCA, the campaign remains advertised until January 2027.
Unicaja pays up to 450 euros without requiring permanence
Unicaja offers up to 450 gross euros for direct-depositing your salary or pension into its Online Account, although the amount depends on the account holder’s monthly income. For those who receive at least 1,200 net euros, the bonus reaches 450 euros, equivalent to 364.50 euros after withholdings.
If the salary is between 600 and 1,199.99 net euros, the incentive is 350 gross euros, which become 283.50 net euros.
Unlike other entities, Unicaja does not set a contractual commitment period for this promotion, since the money is delivered monthly for a maximum of 12 months. However, the customer must keep the domiciled income in order to continue receiving the payments.
The entity also announces remuneration of 2.55% APR for certain balances, as well as incentives linked to the use of Bizum. These advantages must be analyzed separately, since the profitability of the savings depends on the balance maintained and the commercial conditions of each campaign.
Sabadell offers 400 euros, but distributes them over a year
Banco Sabadell announces a bonus of 400 euros for direct-depositing a salary of at least 1,000 euros and activating Bizum in its Online Account. The promotion is aimed at new customers and, according to the published conditions, will be available until November 12, 2026.
However, the incentive is not paid in a single lump sum. The bank distributes 400.08 gross euros in twelve monthly installments of 33.34 euros, which amounts to approximately 27.01 net euros per month after withholding.
To obtain the full amount, the customer must keep the salary direct-deposited and keep Bizum linked to the account during the planned period. If they stop meeting the conditions, they may lose the right to the remaining bonuses.
Sabadell also offers remuneration of 2.75% APR for balances of up to 100,000 euros, under the conditions of its campaign. Therefore, the higher advertised amounts associated with this account include possible savings interest and should not be confused with the money the bank gives solely for receiving the salary.
BBVA announces up to 1,060 euros, but only 400 correspond to the salary
One of the offers with the highest advertised amount is that of BBVA, which announces up to 1,060 euros during the first year. However, only 400 gross euros correspond directly to direct-depositing the salary, while the rest depends on meeting other conditions.
The bank breaks down the maximum incentive as follows: 400 euros for direct-depositing income over 800 euros, up to 120 euros for using the card, another 120 for using Bizum, 120 for paying bills and 300 for maintaining a balance of 10,000 euros during the established period.
In this way, a customer who only transfers their payroll will be able to obtain a maximum of 324 net euros for that concept, after applying the usual withholding. To reach 1,060 euros, they will have to use other services and maintain a certain volume of savings.
In addition, the payroll bonus is distributed in monthly installments over one year, so it is not an immediate income of 400 euros either. The entity announces a campaign with a reference date of November 10, although it is advisable to check its validity and the applicable promotional code before signing up, since some commercial pages still show earlier dates.
Santander announces up to 840 euros in two years and with no permanence
Banco Santander presents a promotion of up to 840 gross euros spread over 24 months, but that amount includes several bonuses and is not obtained solely by transferring the salary.
The entity pays 10 gross euros per month for payrolls of 800 euros and 15 euros per month for income of at least 1,500 euros. In addition, it allows another 10 euros per month to be added for making at least three transactions with Bizum and 10 more for direct-depositing two bills.
Thus, a customer with a payroll of 1,500 euros who meets all the conditions could receive 35 gross euros per month for two years, up to reaching the 840 euros announced. After applying a 19% withholding, that amount would be equivalent to 680.40 net euros accumulated over the 24 months.
The main advantage compared with other promotions is that Santander does not require permanence nor establish a penalty for leaving the account. However, if the customer stops meeting any condition, they will lose the bonuses corresponding to that period. The availability of the campaign for new sign-ups should be checked in the entity's updated conditions.
Bankinter offers 600 euros and CaixaBank requires up to four years of commitment
Bankinter announces an incentive of up to 600 gross euros for new customers who direct-deposit a payroll of at least 850 euros into their Digital Account. The bonus is distributed in twelve monthly payments of 50 gross euros, so that the maximum amount is equivalent to 486 net euros after withholdings.
The customer must keep the payroll for the twelve months in order to collect the full incentive. The account has no general permanence period, but if they stop meeting the requirements, they will stop receiving the pending payments. Bankinter combines this offer with an interest-bearing account, whose interest depends on the deposited balance.
For its part, CaixaBank offers up to 250 net euros for direct-depositing a payroll of at least 1,500 euros, in addition to other in-kind incentive options. To access the money, it requires direct-depositing three bills per quarter and making three card purchases during that same period.
The most relevant difference lies in the length of the commitment. CaixaBank requires maintaining the requirements for 24 months and continuing for another 24 months as a customer, with an account or deposit that meets the established minimum balance. In total, the tie can extend for four years, and noncompliance can lead to a proportional penalty.
A similar situation occurs with imagin, which offers 250 net euros for payrolls of at least 1,500 euros and 150 net euros for income starting from 900 euros, also with a permanence period of 48 months.
What happens if you change banks before finishing the permanence period
Accepting a bonus for direct-depositing the payroll may involve committing to keeping an account for one, two or even four years. The Bank of Spain reminds that institutions may establish penalties if the customer fails to comply with the conditions, provided that they are set out and explained in the contract.
For example, a person who receives 405 net euros from ABANCA and decides to withdraw their payroll before completing the 24 months could have to return part of the 500 gross euros that gave rise to the incentive. The exact amount will depend on the time elapsed and the signed conditions.
In contrast, when an institution distributes the incentive in monthly payments and does not require permanence, the usual thing is that the customer stops receiving future amounts if they leave the promotion, without that necessarily implying returning everything previously collected.
It is also advisable to review what happens if the account holder loses their job, changes their employment situation, or no longer reaches the required minimum income. Not all contracts contemplate the same exceptions, so it is important to know the consequences before committing.
The bank gift also affects the Income Tax return
Another aspect that often goes unnoticed is taxation. The money that a bank gives for having one’s salary paid in is not exempt from taxes just because it is called a gift or commercial incentive. Cash bonuses are generally considered income from movable capital and must be taken into account in the IRPF return.
The entity usually applies an initial withholding of 19%, which is then incorporated into the taxpayer’s tax information. This withholding works as an advance payment, so the final taxation will depend on the rules applicable to the savings base and on each person’s tax situation.
The Banco de España also warns that gifts in kind, such as televisions, electronic devices or mobile phones, have tax consequences. Although the customer does not receive money, the product may constitute remuneration that must be declared, using the corresponding tax value and the advance payment made on account.
For that reason, before accepting a promotion it is advisable to check whether the bank announces a gross or net amount, whether it assumes the withholding, and how the incentive will appear in the tax data.
What you should review before moving your salary to a different bank
The Banco de España recommends not deciding solely based on the money advertised. An account that offers 500 euros may be less convenient than another that offers 300 if it requires more years of permanence or conditions that the customer cannot easily meet.
Before signing, it is advisable to check especially the minimum salary, the mandatory additional services, the payment schedule, maintenance costs and the consequences of leaving the promotion. It is also important to know whether the advantages are reserved for new customers or whether access is allowed after having had an account at that same entity.
The differences between offers are considerable. ABANCA delivers 405 net euros with two years of permanence; Unicaja can pay 364.50 net euros over the course of one year without a permanence commitment; Sabadell distributes around 324 net euros in twelve months; and CaixaBank and imagin require a commitment of up to four years to receive certain bonuses.
In short, the bank that announces the largest gift is not always the one that delivers the most money for direct deposit of the payroll nor the one that offers the most favorable conditions. To know how much is really earned, one must subtract taxes, separate additional incentives, check the obligations, and assess how long the banking relationship must be maintained.