BBVA is looking for new clients and is extending the gift of 720 euros until the end of the year.

First time in the update

One of BBVA’s priorities is growth in Spain. To do this, they want to merge with Banco Sabadell to become stronger in the country, above all, as the Basque institution points out, thanks to the work they have done from the bank in the SME sector. But BBVA is very clear that if the takeover bid for Sabadell falls through, they will continue to operate alone and grow organically. While they wait BBVA is looking for new clients and is extending the gift of 720 euros until the end of the year..

Earlier this year, the organization, led by Carlos Torres, launched a promotion for new customers. The company returned up to 60 euros gross per month to new customers for one year. if they brought with them at least one bill for electricity, gas or telephone/internet and without having to directly debit their salary. In total, the bank returned up to 720 euros gross over twelve months to everyone who opens an online account and fulfills the terms of the promotion.

BBVA is satisfied with the results obtained, both in terms of the number of members and the field profile. “because these are clients with whom we can build long-term relationships”. That is why they decided to extend the conditions. This campaign was initially only available until June 30th, but this week, with 6 days left, it was extended for another 6 months, until December 31st.

In these new six months, the conditions and rewards are the same. That is, BBVA pays 60 euros gross per month for direct debiting the account, which will be about 48.60 euros net. In addition to this requirement, another condition for receiving this money is that the client has a minimum balance of 400 euros on average in his bank account. There is no need to take your salary with you and the offer will apply to anyone who opens an online account with no fees or conditions, including the no-fee Aqua card. To access this promotion, you must enter the code RECIBOS720 during the registration process.

Peyo Belausteguigoitia, Regional Manager of BBVA Spain, assured at the XLI Apie seminar in Santander that “It’s a very attractive proposition that delivers very good results.” And he explained that commercial policies vary and adapt to what is most attractive to clients. “Maybe in a few months we will release it again,” Belausteguigoitia noted. But there was no need to wait these months, since the organization decided to extend it until its end.

The person in charge of Spain also noted that the organization “continues to follow the right path of customer growth”. A bank in Spain has broken the record of clients attracted in a few months of 2024. And all this after it managed to grow by more than one million customers in 2023, which is 7% more than in 2022. In addition, they emphasize that digital channels already provide 50% of new customers who come to the bank.

In addition to attracting new customers, BBVA also wants them to be connected, meaning they have more products than one account. According to what the company indicates, its extensive digitalization means that six months after its acquisition 75% of new customers become loyal.

For now, this is the only BBVA account that gives customers some money, although the rates have been high. The regional manager explained that they placed their offer based on geographic coverage. And it was at this moment that clients from Spain expressed their discomfort, since in Italy BBVA offers a 24-month deposit with a 3% interest rate and a paid account with a 4% interest rate.

Thanks to these two offers, BBVA reached 500,000 customers in Italy on June 6th. This good experience makes The company will launch a digital banking model in Germany during 2025.

The regional manager declined to comment on what the commercial offer would be in Germany. “The offer in each of the countries in each of the segments is different, which is adapted in each of the periods.” And that’s part of what they’re looking at for Spain: they’re also looking at different investment alternatives.

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