You can view it at bbva.es or in the BBVA app by going to "I want/Manage Overdraft Service" in the personal accounts menu. You can also call the BBVA Helpline or go to your branch.
Overdraft service and Ad-hoc service for processing charges
The peace of mind you need in unexpected situations when you have an insufficient balance in your account.
Overdraft service
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How does it work?
Depending on your position as a customer, you could be granted an authorized limit to perform transactions if you enter a discretionary overdraft.
If your account has a limit, we will process all of your charges up to the amount of the limit.
How much does it cost?
Having an authorized limit is free of charge, you will only pay if you use the discretionary overdraft. In other words, if we cover any charge and your account enters the discretionary overdraft.
The service works like a small loan, and its cost is calculated with an interest rate and a fee.
- Overdraft fee: 4.5%. It is only charged once and is calculated on the basis of the maximum deficit balance during the account's settlement period.
- Interest payable: the current rate is 7.25%.
The resulting APR from applying these two services is limited by law for 'consumers' (natural persons with no economic activity) and cannot exceed 2.5 times the legal interest rate.
Ad-hoc service for processing charges with no balance
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How does it work?
If your account does not have an authorized discretionary overdraft limit or you have exceeded it, the Bank makes this Service available to you, where we will analyze each charge individually by different means to try to attend to it and avoid its return, keeping you informed during the process. The charges can be:
- Cash withdrawals.
- Direct debit orders.
- Bills with no direct debit orders.
- Internal and external transfers.
- Social security contributions.
- Paying checks or promissory notes.
- Issuance of bank checks.
- Purchase and sale of foreign currencies.
How much does it cost?
If your account does not have an overdraft limit or if it has been exceeded, when a charge is processed and at 9:00pm. the account remains negative, a one-off fee of €2 will be applied for each charge.
If you deposit money into the account before 9.00pm and the balance is no longer negative, you will not be charged this fee.
In addition, for the overdraft service provided, the above-mentioned overdraft fee and debt interest will be applied.
Example
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María receives her salary on the 30th day of each month. However, this month it is paid 11 days late. On the 30th, the phone and electric bills arrive, which total €150, but she doesn't have sufficient funds in her account to pay them.
María has an unauthorized overdraft limit of €600. This means that her bills are automatically paid and that her account enters an unauthorized overdraft of €150. At the end of the day, she receives an alert informing her that she has entered an unauthorized overdraft. For the €150 tacit overdraft for 11 days, María will pay €5.54 in overdraft fees and debit interest.
If the account does not have an unauthorized overdraft limit, or has exceeded the limit, she will also pay a €2 fee each time an amount is deposited from her account.