in

BBVA becomes the first Spanish bank to charge individuals for deposits of more than 100,000 euros

BBVA has taken the step and has decided to become the first Spanish bank to charge its private clients a commission for the maintenance of deposits over 100,000 euros, as confirmed by sources of the entity.

As part of the periodic review of the commercial policy, BBVA will begin to apply a maintenance fee for the 0.025% monthly or 0.3% annually from next February to a small number of clients in Spain with little connection and very high balances.

These are exclusively customers with a high concentrated purchasing power in checking accounts, which do not have any linked product, not even the direct debit of a payroll. The bank assures that this group represents only 0.2% of its clients in Spain.

In this way, will not be affected clients with ties or whose assets do not exceed 100,000 euros, the maximum amount covered by the Deposit Guarantee Fund (FGD).

The main financial entities these types of commissions already apply to large institutional clients due to the impact that the low interest rate environment has on their accounts for such a long time.

Most banks negotiate one by one the rate that applies to each of the large institutions, investment funds, management companies or even insurance companies that maintain a high balance, without there being totally standard criteria.

Thus, the usual is set up a charging scheme depending on the volume and activity of each institutional client. Until now, individuals have been excluded from these approaches, although the step taken by BBVA could open the door for other banks to adopt the same strategy in the coming months.

Emerging forces attack very important resistance

How to configure a HomePod or HomePod Mini from iOS to activate when arriving or leaving home – Latest News, Breaking News, Top News Headlines