Spain’s BBVA is expanding its footprint in Europe with the launch of a fully digital retail banking platform in Germany.
The new mobile-based service features an interest-bearing checking account that offers a competitive three percent rate for the first year. Additionally, customers will receive a debit card that provides three percent cashback on purchases—both elements free of charges and fees.
This initiative marks BBVA’s second foray into the all-digital banking realm, following the successful launch in Italy in 2021, where the bank has already attracted over 700,000 customers. BBVA has established a strong reputation for its technological prowess, asserting that its app delivers the premier digital banking experience in Europe.
Customers will benefit from a checking account linked to German IBANs and a debit card that features a dynamic CVV and no printed data. Furthermore, the service includes access to 70,000 ATMs and cash withdrawal points throughout Germany, along with instant Sepa transfers, direct debits, and a fully digital account-switching service.
BBVA also offers flexible financing solutions, such as Pay&Plan, which enables customers to divide debit card expenses into manageable payments over three to twelve months. Other lending options include one-click personal loans and an overdraft facility known as Dispokredit.
Onur Genç, CEO of BBVA, stated, “We’re introducing a unique banking experience in Germany that merges the simplicity and convenience of a fee-free account—characteristic of digital banking—with the comprehensive product offerings, reliability, and trust associated with a traditional universal bank.”