BBVA’s purchase (OPA) offer by Banco Sabadell is in its final stretch, but that does not mean that everything is said. On the contrary, there are still unknowns flying over a business movement that can change the financial landscape in Spain. Some of them have been resolved this Monday, when BBVA decided, in extremis, upload the price by 10%. Now; It remains to be seen how this process will affect users who have accounts or cards in both entities.
Or what is the same; If we are products holders such as a mortgage, a checking account or a card in any of these banks, it is important to know that this operation can mark a change in our products, as happened years ago when CaixaBank absorbed Bankia in 2021 or Unicaja and Liberbank in the same year.
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BBVA-Sabadell fusion does not modify the conditions of mortgages or loans already signed
These past experiences of banks of banks show that they are not problematic for customers, whose accounts or mortgages, for example, pass from one container to another without having to do anything. But some issues must be taken into account.
For example, whether we are BBVA and Sabadell customers, the merger should not affect loans already signed. Here, entities are obliged to maintain the conditions of mortgages and credits (such as interest rate or deadlines). Where there could be changes is in accounts and cards, especially in aspects such as commissions, costs or remuneration.
The accounts and cards can be affected, although always with a previous notice of two months by the bank
More; In the case of cards and bank accounts, already differentiated from mortgages, both are products of indefinite duration or automatic renewal. This allows the new fuse entity to modify its conditions: new or higher commissions, interest rates or associated services.
It is essential to be attentive to bank communications, since any modification must be notified at least two months in advance, allowing us to decide whether we accept the new conditions or prefer to look for other alternatives.
What happens if you have products in both banks?
If we are customers of BBVA and Banco Sabadell, it is possible that we are offered the option to consolidate our products in a single entity. This could involve the unification of accounts, cards or mortgages, which could simplify our day -to -day management.
Although not in all cases, because sometimes having our money or our savings in a diversified way in several entities may be more beneficial to bring better control. Either because of the conditions that can be offered in other banks or because, we simply want our money to be distributed among several institutions.
That is why it is important to review the new conditions that are offered to us and evaluate whether they adapt to our needs before making a decision.
When will these changes materialize?
Although the BBVA-Sabadell fusion is in process, the government has imposed conditions that require both entities to operate independently for at least three years, extendable to five.
This means that, in principle, there will be no significant changes in your financial products until this period of operational separation is completed. This OPA would mean the creation of the second largest bank in Spain.