Savings accounts are financial entities that allow long-term money availability without incurring fees or commissions, usually open to families, non-profit institutions and companies.
Maintaining an account specifically dedicated to everyday expenses is more useful than ever, so here we will explain how BBVA Savings accounts work.
What is a BBVA ahorro?
Savings accounts come in two flavors, which we use daily to manage expenses and receive income; and saving accounts which act like savings vehicles that allow easy access at any time; having both can help create an exciting, fulfilling life!
Saving is the practice of setting aside part of one’s current income in order to protect one’s future and is not an easy process; it takes dedication and hard work. In order to save, one must anticipate possible future needs and consider which components of one’s income could become investments with higher returns.
BBVA Savings Platform has been created to assist each of its clients in optimizing their brand. Through their global program of customized, data-driven and intelligent experiences tailored to individual client needs via the opening of a BBVA savings account or credit cards.
How does BBVA ahorro work?
BBVA Ahorro offers its clients an account to safely hold and grow their funds over time while also earning interest. Furthermore, this bank provides useful features that can assist in managing everyday life more easily for users.
BBVA has introduced a feature into its application to detect whether clients make appropriate financial purchases. Through it, clients will be able to monitor their exercise progress and gain an idea of whether it was successful.
PayU is proud to support BBVA as one of its payment methods in Mexico, one of Latin America’s largest e-commerce markets. Merchants can offer it as a payment method by selecting it during checkout and sending their customers a voucher containing barcode information. Customer can then present the voucher at any BBVA branch to complete their transaction, for an effortless online shopping experience with no worries about security. Additionally, BBVA allows its customers to bypass lines altogether, improving customer satisfaction. Furthermore, the bank provides various rewards and benefits such as loyalty points, cashbacks, free insurance policies, discounts on products and services as well as an Electronic Complaint Portal where customers may lodge complaints against it.
What are the benefits of BBVA ahorro?
BBVA savings offers many benefits to its bank clients to enable them to save more and manage their money more efficiently. Four innovations developed by BBVA Continental for this purpose are Mi Day A Day, BBVA Wallet and Lukita; which all help savers save more and manage their money more effectively.
«Mis Goals,» available to both workers and companies on BBVA Continental’s platform, allows you to set savings goals, select how best to meet them and implement appropriate steps towards attaining them. Each dollar you add to your savings account through «Mis Goals» is then stored away into an individual category designed to facilitate your savings plan.
The app ‘Mi Dia A Diario’, available to company employees of BBVA Continental platform, allows them to track all expenses made against their savings account, breaking them down by category for easier analysis. Furthermore, Mi Dia Adios gives an outlook into what your savings could look like in future and aids estimation of what can be accomplished within one year.
«BBVA Wallet», available to all clients of BBVA Continental’s platform, allows you to transfer pounds and dollars directly into your bank account without incurring fees. Furthermore, «Lukita», also included as part of this application’s capabilities, allows QR payments on savings accounts whenever and however often desired.
What are the disadvantages of BBVA ahorro?
An savings account provides an accessible means of protecting real funds while earning interest on them. Saving accounts are often used for emergencies or meeting short-term financial goals; BBVA offers several types of savings accounts with their own set of advantages and drawbacks – become familiar with their workings to open one with confidence!
If you wish to open an BBVA Metas savings account, official identification, an address document and social insurance number is necessary. Furthermore, it is essential that fees, minimum-saldo requirements and withdrawal limits be known prior to making a decision.
An important goal of savings accounts, of course, is prioritizing future over present. While no single number of bank accounts is suitable for everyone’s goals and lifestyles, according to Luz Martin Manjon from BBVA Personalisation of Health Financial Advice who advised it would be ideal if users held two accounts simultaneously: one to pay regular expenses such as rent/utilities etc and the other specifically dedicated for savings purposes.