Girokonto

BBVA Girokonto: the German account from the Spanish banking group

The BBVA current account is the German offering from the Spanish banking group Banco Bilbao Vizcaya Argentaria, which operates in Germany without its own branch network. The account is aimed at customers comfortable with purely online, phone and app banking who don't need a local branch.

Account fee: EUR 22.50 a year

Account management costs EUR 22.50 per year, roughly EUR 1.88 a month - putting the fee at the higher end compared to many other accounts covered in this series. No condition for fee exemption, such as a minimum incoming payment, is recorded in the data; the fee appears to apply regardless of account turnover.

Online bookings, by contrast, are free with no limit on quantity - the data explicitly shows a EUR 0 fee for online transactions, regardless of how many are made per month. For overdrafts, BBVA charges a uniform 9.95% p.a. on both the arranged and unarranged overdraft.

No welcome bonus

Unlike several other accounts covered in this series, the BBVA current account currently offers no welcome bonus for new customers. Anyone primarily looking for a new account because of a sign-up credit will find no extra incentive here.

Card and deposit protection

A credit card is included with the account as a fixed part of the package, not an optional add-on. The data does not include specific figures for the card's annual fee or foreign-usage charges.

One thing to note about deposit protection: deposits are protected up to EUR 100,000 per customer through the Spanish deposit guarantee scheme - not the German compensation scheme. Since BBVA operates in Germany as a Spanish institution under the EU-wide harmonised deposit-protection framework, the level of protection is the same statutory EUR 100,000 as with German banks, but responsibility in the event of a claim lies with the Spanish guarantee system.

Who is the BBVA Girokonto suited to?

According to the stated target group, the account suits employees, pupils, students and apprentices. Retirees, freelancers or self-employed people are not listed in the target group. Anyone comfortable with purely online, phone and app banking without a branch, and who values a credit card bundled into the account package, may find this account suitable - though without a welcome bonus and with a comparatively noticeable annual fee of EUR 22.50.

Pros and cons

• Unlimited free online transactions
• Credit card fixed into the account package
• Account-switching service available
• Deposit protection at the statutory EU level, up to EUR 100,000

• EUR 22.50 annual fee with no visible exemption condition
• No welcome bonus
• No branches, only online, phone and app
• Deposit protection runs via the Spanish, not the German, system

Verdict

The BBVA current account is a purely online account with a comparatively noticeable annual fee of EUR 22.50 and no welcome bonus. It suits customers who value the bundled credit card and unlimited free online bookings and don't need a sign-up bonus.