BBVA Launches Fully Digital Bank in Germany

Spanish banking group BBVA has officially launched its new fully digital bank in Germany, marking its second all-digital market entry in Europe after its successful venture in Italy in 2021. The new app-based offering aims to combine the simplicity of digital services with the reliability of a universal bank.

The new digital bank provides an interest-bearing checking account that pays three percent for the first 12 months and a debit card offering three percent cashback on purchases, both paid monthly and free of charge. The debit card features no printed data and a dynamic CVV for enhanced security. Customers will have access to 70,000 ATMs and cash withdrawal points across Germany, instant SEPA transfers, direct debits, and a fully digital account switching service. Financing options such as "Pay&Plan" for splitting debit card purchases into instalments, one-click personal loans, and an overdraft facility are also available.

Onur Genç, CEO of BBVA, commented on the launch, stating, "We're bringing something new to Germany. A banking experience that combines the simplicity and convenience of a fee-free account, typical of digital actors, with the full range of products, reliability, and trust of a universal bank." BBVA's digital banking app has been recognized as a leading digital banking experience in Europe. The bank's prior digital launch in Italy has attracted over 700,000 customers.