BBVA launches a 100% digital bank in Germany, offering an interest-bearing checking account with no fees

Value proposition

BBVA Germany kicks off its activity with a clear and simple offer: a fee-free interest-bearing checking account paying three percent for 12 months – paid monthly, with no conditions and  no requirement  to contract other products. This account comes with a free debit card that offers three percent cashback on all purchases, both in-store and online. The cashback offer is valid for the first 12 months and is paid directly into the customer’s account. Both the checking account and the debit card are completely free, with no fees, subscriptions or conditions.

The offer includes a range of free daily banking services, such as easy access to cash at around 70,000 ATMs and cash withdrawal points (supermarkets, retail stores and selected gas stations) across Germany, as well as ATM access in other EU countries. Withdrawals over €150 are entirely free of charge. Other services such as instant SEPA transfers, direct debits, and a fully digital account switching request service are also provided free of charge.

Flexible financing solutions are also available, such as Pay&Plan, which allows customers to split debit card purchases up to 90 days after payment into three to twelve monthly installments. Other lending facilities include one-click personal loans and the Dispokredit overdraft facility.

Operating as a fully-licensed bank, BBVA Germany offers German IBAN accounts, covered by the European Deposit Protection scheme for up to €100,000.

“Today, in Germany, we are launching a bank that offers a wide range of products, such as deposits, payments, and loans, designed to meet the everyday financial needs of German customers. All of this backed by an award-winning customer-focused service model. We believe that the backing of a fully licensed, European-based global bank with more than 80 million customers will be key to building the trust that German consumers need when choosing a banking partner,” explained Murat Kalkan, Head of Digital Banks at BBVA, who believes that the strength of this value proposition, combined with simplicity and transparency, will enable BBVA to elevate the banking experience to a “whole new level”.

BBVA aims to transform the digital banking experience with its app. The new design offers quick access to key functions like card management, while facilitating fast and secure payments, real-time updates, and smart spending tools.One of the bank’s standout innovations is the launch of the first cards in Germany with no printed data and a dynamic CVV, which generates a unique security code to provide enhanced security in digital payments.

All of BBVA’s products and services will be supported by 24/7 German customer service, operated by a team of bank representatives. Customer service in English will also be available daily from 7:00 am to 9:00 pm. This service is designed to guide customers through every step of their digital banking journey, coupling the efficiency of technology with a human and customer-focused approach.