Just months after announcing its plan to realign its global brand, BBVA USA introduced a newly updated Premium Checking account, intended to deliver on the bank’s commitment to provide global products and services, an improved user experience, and solutions that help customers make better financial decisions.
- Newly updated account reflects updated brand strategy: BBVA’s global focus on transparency and simplicity are reflected in the product’s new features and benefits
- A simpler, more transparent product: The new Premium Checking account is streamlined with simpler qualifying criteria and expanded benefits
- Lower monthly fees, more easily avoided: BBVA’s relationship program and private bank were also notable reasons for the bank’s designation.
Bolocan: We set out to simplify our Premium Checking account, making it easy for customers to know exactly what to expect.
“We set out to simplify our Premium Checking account, making it easy for customers to know exactly what to expect,” said David Bolocan, Executive Director of Consumer Segments and Deposit Products. “We focused on the benefits we believe are most valuable to our customers, and then set some simple rules for avoiding the monthly Service Charge. With some other banks’ accounts, the requirements are so convoluted, it’s almost impossible for a customer to tell if they will incur a fee or not. We wanted to change that.”
Bolocan noted that monthly Service Charge has decreased from $26 to $19, but many customers could avoid the fee entirely by setting up a qualifying monthly direct deposit of $4,000 or more. Customers can also avoid the monthly Service Charge by maintaining an average daily collected balance of $4,000 or more.
Premium Checking offers a tiered rate of interest based on balance, as well as easy access through more than 64,000 AllPoint®, participating 7-Eleven® and BBVA USA ATMs. There are no ATM withdrawal fees at these locations, and the bank also issues up to two automatic rebates each month for ATM withdrawal fees charged by other banks.
Bolocan: Our long-term goal is to continue developing products and services like Premium Checking, that deliver on our brand promise of transparency and simplicity.
“Our long-term goal is to continue developing products and services like Premium Checking, that deliver on our brand promise of transparency and simplicity,” said Bolocan. “ We believe it’s important for our customers to understand their accounts so they can use them to their best financial advantage.”
© 2019 BBVA USA Bancshares, Inc. BBVA USA is a Member FDIC and an Equal Housing Lender. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group.
Other interesting stories