Commissions are financial charges that banks owe as consideration for the services they provide to their clients, as well as for the transactions they carry out. The amounts that each citizen pays vary depending on the bank where the account is opened, as well as the type of account they have.
Specifically, BBVA charges various commissions or fees for the services it offers its clients, such as contracting and maintaining its financial products. Although BBVA offers various financial products without costs, commissions apply to several of its accounts, cards and mortgages. However, the bank provides bonus systems that allow clients to avoid these fees by meeting certain conditions.
It may interest you: The big banks earn in three months the same as the State Budget allocates to education or health in a year
The main commissions charged by the entity are:
- Maintenance commission: 40 euros per quarter (in March, June, September and December), that is, 160 euros per year.
- Administration Commission: 0.60 euros per note.
- Fee for conversion to SEPA format: 0.10%
- Commission for tacit overdrafts: 4.5% (with a minimum of €15).
- Commission for immediate or online transfer: 1.25 euros.
It may interest you: New dance partner in the Spanish banking sector: BBVA studies merging with Banco Sabadell
It should be noted that there are different ways to avoid paying these types of commissions. BBVA details the requirements that its clients must meet in order not to pay the bank’s commissions.
- Online account or payroll account without commissions– This is the only option to avoid the aforementioned payments. It should be noted that there will always be movements that have a cost.
- Payroll account goes with you: in this case it is necessary to comply with some of the stipulated requirements such as direct deposit of a payroll of at least 800 euros per month, direct deposit of a pension or unemployment benefit of at least 300 euros or receive transfers issued from another bank that add up to a minimum of 2,500 euros per quarter.
- Election Account: If you have signed up for this account for more than four months, you have to meet a series of requirements to not pay commissions. Have a payroll of at least 800 euros or a pension or unemployment benefit of at least 300 euros. As well as direct debiting five receipts every four months or making 7 purchases with the credit card per quarter. The last requirement is to have a mortgage or insurance; Credit card spending of 200 euros every four months or an investment product with a balance of 5,000 euros.
Depending on the card, BBVA integrates different issuance and renewal costs, as well as for cash withdrawals at other ATMs or abroad. This is how they apply to your main cards:
- Aqua more: 43 euros
- Maximum Aqua: 65 euros
- Platinum: 90 euros
- Infinite: 120 euros
The BBVA bank is one of the few entities that offers fixed mortgages below 3%. Specifically, they are marketing this type of loan for the purchase of a home with an interest rate of 2.90% for 15 years and 3% for 30 years.
