BBVA Bank Review: A Comprehensive Look at This Popular Banking Institution

Dec 27, 2023 By Triston Martin

BBVA Bank is located in Madrid, Spain, and offers more than 5.5 million products and services from its current account holders at over 9,000 branches with a total of more than 120,000 employees. The website stocks any number of banking options including savings accounts, mortgages, and investment funds to name a few. It also provides online videos that walk you through the application process to open an account which starts with the opening step-by-step guide. The BBVA Bank review for this Spanish multinational bank rates its services as "excellent" with a BBB+ credit rating.

The BBVA bank savings accounts come in three forms: standard, fixed, and flexible. The fixed-rate ensures that your earnings will be the same for a set period of time that ranges from one month to ten years. The flexible account gives you the chance to open an investment account with no fee and earn higher returns than the standard option within one of its nine different sub-accounts.

Which services does the BBVA bank offer?

The BBVA bank offers a variety of other financial services including insurance, mortgages, brokerage services, and foreign currency exchange. It also offers credit cards, investment funds, and over 1,500 personal loans that are obtainable through its branches in Spain.

An important factor is that all your banking transactions are protected through its Global Deposit Insurance Scheme although you can only access your money if you lose your card or wallet in which case it will reimburse all the money stolen through stolen cards. The BBVA bank is rated second in Europe for its security and is the first choice in Spain if you want to attain foreign currency, funds, or other banking products. BBVA is also the only bank in Spain that has a credit rating of A- and a negative outlook from Standard & Poors.

When BBVA was created?

BBVA was created in the year of 1999 by merging several Spanish banking operations. The bank has a long history of serving the Spanish market and has grown into one of the most competitive banking brands in all of Europe. The bank was privatized by a group of investors led by Banco Bilbao Vizcaya, Sociedad Anonima who bought an initial 70% stake before bringing in partners from France, Italy, and Mexico. After the merger, BBVA incorporated all previously acquired banks and businesses to become an international bank that caters to multinational corporations and European customers who want more access to their finances.

BBVA is managed along different lines. The bank has four main categories to help guide its operations. There is the Retail Banking which caters to domestic and international customers, Private Banking which provides services for high-net-worth customers, Commercial Banking which provides services for non-financial institutions and Corporates & Investment unit that works closely with multinational companies and financial institutions to develop new products and services.

BBVA has grown into a strong brand in Spain with a focus on local Spaniards as well as migrant workers from Latin America who now also make up almost 60% of its customer base. BBVA has expanded into other countries in Europe in recent years. The bank opened its first branch in France in 1999 and since then has grown with many other branches across Spain, Monaco, France, Switzerland, and the United Kingdom. BBVA also has several subsidiaries and joint ventures to help them expand its reach across the globe.

BBVA is also developing technologies that are aimed at cutting down on costs for their customers through new innovative products such as BBVA Wallet which helps customers keep information safe from theft. The bank also employs mobile banking apps that help customers be more efficient at banking through the convenience of a smartphone or tablet.

Personal Tips and Advice:

One of the most important factors in finding a great bank is finding one that you can trust with your money. Some of the best banks in the world have been around for centuries and many of them have a history of customer care that you can't help but admire. BBVA is no exception to this rule and is one of the most trusted banks in Europe.

Another benefit that this bank offers is its low fees. The bank charges only one percent fees on most transactions and is more than willing to work with you to find the most affordable options when you do need to take advantage of a low-interest rate.

The general overview of all recommendations

The first thing that people should do is open their bank account with BBVA. Setting up an account with BBVA requires very little paperwork and can be done in mere minutes. It is important for you to know who you are doing business with and so the bank provides you with a list of all of the fees associated with your bank. This way, there will be no surprises when it comes time to pay your monthly bill.

The second thing that people should do is plan out what they want to use their money for and how much they would like to put into savings as opposed to spending now. This will ensure that you get the most out of your investment plan whether you choose a savings or a checking account or something in between.

The third thing that people should do in their banking experience is keep a record of all of the purchases they make. By keeping track of your spending history, it will be easier for you to manage your finances and make sure that you are not overspending.

The fourth thing that people should do is look into the different tools and services that BBVA has provided. The more research you do into these services, the more money they will save you in the long run. Although some of these services are only available online, many branches provide them as well.

The fifth and final thing that people should do is remember to always keep their accounts up to date. Keeping up with your bank account will ensure that you stay on top of things in case there is ever a security breach.

Related Articles