Expect the unexpected: this is how the BBVA app helps you avoid overdrafts
Who hasn’t been there at some point? An important bill comes in and due to either an oversight or an unforeseen expense, you don’t have sufficient money in your account. To prevent these situations, BBVA has come up with a smart solution on its app that lets you stay one step ahead and boost your account balance. What’s more, if you need it and meet certain requirements, such as having your salary deposited into your account, or a personal loan, you automatically receive up to €300 in coverage to pay for direct debit bills, avoiding last-minute stress.
This artificial intelligence (AI) powered feature is based on a three-phased plan that helps customers keep their liquidity under control and manage their personal finances with greater peace of mind.
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Smart anticipation
The BBVA app analyzes your transaction record and predicts which direct debit bills will arrive. The app is able to foresee payments weeks, or even months, in advance, giving customers time to plan for their larger expenses.
Furthermore, based on these calculations, it suggests a personalized monthly savings plan. This way you can put aside the money you need to be able to cover these bills when they arrive. This ability to anticipate not only helps you avoid surprises, it also promotes a culture of conscious and continuous financial planning.
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Account linking
If the day the bill arrives you still do not have enough money in your account, the app proposes a solution: connect other accounts under your name to enable the automatic transfer of the funds needed. This transaction takes place without you having to do it manually, and always in a secure environment.
Thanks to this feature, BBVA lets you make the most of your resources and reduce the risk of overdraft. This is a way to boost your liquidity without having to use external financing, fully leveraging your financial potential at the bank.
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And if that weren’t enough… we cover your bills
If you don’t have enough money in either your main account, or in your linked accounts, BBVA has an additional solution. It offers up to €300 in coverage to guarantee the payment of direct debit bills. This coverage is automatically activated when a possible overdraft is detected, guaranteeing that the bill is paid without any stress.
This feature is available for customers who meet certain requirements, such as having regular income of at least €600 in the form of a paycheck or pension, an active personal loan or mortgage with BBVA, or over €3,000 in assets managed by the bank (either in accounts, shares or investment funds).
The main goal of these features is to ensure that important payments go through without interruption, and that you stay in control of your finances, stress-free. They are also designed to help you build good financial habits, improve your financial planning and anticipate major expenses, and have better control over your present and your future.