BBVA brings the world of finance and savings management closer to the little ones. The bank has reduced the age limit from 14 to 12 years for minors in Spain to be able to use an app and web portal designed for them, which allows them to make balance inquiries, recharge their mobile phones, etc. without a password. Allows cash withdrawal from ATMs. a card, view multimedia content about their finances or use Bizzum to conduct transactions, if permitted by their parents or representatives.
account, which so far it was available among minors 14 and 17 yearsshould be hired by his parents or legal representative, and helps them learn finance management with multimedia content. According to the bank, it aims to “bring the world of finance closer to the youngest, by providing them with tools and methodologies that facilitate good financial health and knowledge leading to greater understanding”.
Informative content wants to help them learn manage your personal finance and “bring them closer to the bank’s digital channels in a more playful and dynamic manner”. For this and among other topics, the unit has created content on how to prevent fraud, Learn how to make the best use of cards and get savings tips.
Practically, in app and on the web”account savings goal“, which enables set savings goals that the minor may at any time seek advice (Subscribed by over 400,000 households since its launch) or “Aqua Debit Card”, without administration, issuance and maintenance fees, which can be used by parents or legal representatives through their app.
The bank clarified that in the six months since it adapted the application for minors, they joined the entity Over 70,000 youth between the ages of 0 and 17, is one of the most successful products among the collective bisam, Payment instrument used by minors over 200,000 operations For an average price of just over 20 euros, which is proof of its success among the youngest.
As in all payment transactions, this service can be consulted at any time and in real time by those responsible for the minor, being able to allow or block its use.
The Bank has progressively expanded the profile of minors who can use its tools. In one of the latest changes, it also allowed parents to open an account for their children entirely digitally from birth, an option that was initially limited to young people between the ages of 14 and 17.