Legal notice and other documents

It is mandatory for all financial institutions to have digital copies of certain personal documents of their customers in order to verify their identity, their economic or professional activity or the origin of their funds, according to the Act 10/2010 on the Prevention of Money Laundering.

Failure to comply with this legal requirement may force us to cancel all accounts contracted by clients that do not provide this documentation.

(400 kB) -- Law 10/2010 on money laundering prevention

Necessary documentation

In order to continue offering these services, we need your cooperation.

The following are the documents that may be required:

  • Identification document (ID, Foreign National's Identification Number, Passport, etc.). 
  • Declaration of Economic Activity (DAE). A document filled in and signed by the customer giving details of his/her economic activity, either at the branch office or via Customer Login on bbva.es (My Profile). 
  • Document proving your economic or professional activity. Depending on the customer type or activity, one of the following should be presented:

- Proof of current salary (no more than 3 months old).

- Certificate of employment issued by your employer.

- Certificate of earnings, pension or benefits.

- Most recent year's personal income tax return.

- Current employment contract.

- Declaration of inclusion in the taxpayers register (form 036).

- Registration of activities with the public revenue service (Spanish Government license for business activities).

- Last yearly or quarterly VAT or personal income tax statement.

- Most recent bill from a professional association.

- Social Security self-employed proof of payment (no more than three months old).

For more information, contact your usual adviser or go to a BBVA branch.

MiFID II is a European regulation that has been transposed into Spanish law, and its aim is to improve the protection of investors in financial products. It also aims to establish a single European financial instrument market by improving the transparency and efficiency of the markets. 

With regard to European regulations, MiFID II mainly comprises the following standards:

The transposition of MiFID II into Spanish law has been carried out through the following standards:

SEPA (Single Euro Payments Area) is an area in which consumers and companies can carry out domestic and international charges and payments, in the same basic conditions and with the same rights and obligations, regardless of their location. Within the SEPA zone, all borders have been eliminated when it comes to making or receiving payments in euros.

The SEPA area consists of the 28 European Union member states, together with Iceland, Liechtenstein, Norway, San Marino, Switzerland and Monaco.

What is it?

SEPA: New outlook for payments in Europe

After adoption of the euro as a single currency, the SEPA project represents another step towards the economic and monetary integration of Europe: the creation of an authentic domestic market where there is single way of making payments effectively, securely, simply and transparently.

The payment instruments included in SEPA are:

  • Transfers.
  • Debit entries.
  • Payments by card: The main new features introduced are that it is now mandatory to include a chip in all cards, and all transactions must be authorized with a PIN. With these measures, the aim is to increase the level of security of all transactions. It affects both credit and debit cards.

Deadline

The mandatory deadline for migration to SEPA payment and collection instruments was February 1, 2014, except for niche products that, because of their specific characteristics and low volume of operations, were migrated during a second phase in February 2016 (in Spain, C58 credit advances and receipts sent by C32).

Benefits

  • Unified format for executing payments and collections in euros within the EEA.
  • Ability to consolidate accounts to facilitate centralization of cash management functions.
  • Facilities for expanding business beyond the local market.
  • With B2B debits (between companies), certainty of collection for the creditor.

Transfers

The SEPA transfers scheme (in force since January 2008) enables the simple, standardized sending of payments within its geographic area.

SEPA transfers have the following features:

  • Denominated in euros.
  • No account limit
  • Between bank accounts, leaving behind the cash transfer system.
  • With expense clause <Shared>.
  • Use of the IBAN as account identifier.
  • Maximum completion time one day. There is a possibility of sending same-day SEPA transfers (the payee receives the funds that day) and instant SEPA transfers (the payee receives the funds instantly).
  • 140 characters of payment information, which is transferred in full from the payer to the payee.

CORE and B2B debits

This is an instrument for making collections via direct debit from the debtor's account.

Key features of SEPA debits are:

  • Denominated in euros.
  • No account limit
  • With expense clause <Shared>.
  • Use of the IBAN as account identifier.
  • 140 characters of information, which is sent in full from the creditor to the debtor. An expanded item with up to 640 characters at some Spanish entities. 

Core Debit Entries

This involves the basic diagram for debit entries. These can be used to make transfers to both individuals and companies. 

  SEPA Core Debit
 
Mandate
SEPA Core Debit

Standard format. 

Your details are conveyed in the debit transaction.

 
Introduction
SEPA Core Debit

D-1. 

One additional day for debits with an EBA recipient.*

 
Information
SEPA Core Debit

140 characters. 

An expanded item at some Spanish entities.

 
Redemption
SEPA Core Debit

Op.authorized: 8 weeks. 

Unauthorized transactions: 13 months.

 
Account ID
SEPA Core Debit
IBAN
 
Format
SEPA Core Debit

XML ISO20022 Core AEB

European XML

AEB 19.14

 
Financing
SEPA Core Debit
Yes

* EBA is the clearing house for cross-border and domestic debit entries to companies that do not operate through Iberpay (the Spanish clearing house).

B2B debit entries

The outline among businesses (B2B debits) offers the creditor a greater collection guarantee, since the debtor relinquishes the right to refunds on authorized operations. For this reason, the debtor's entity can apply for the authorization of the mandate before recording the first charge on the account.

New developments for Debits 

  • Financing of debit entries: SEPA Core and B2B debits can be financed. In Spain the format is that of SEPA debit entries, including indication of financing established in the Spanish banking notebooks. 
  • Simplified operations for Core debit entries: as of November 2016, there is a single submittal period for SEPA Core debits, regardless of their type (first, recurring, one-time, etc.): D-1 for domestic debit entries or those with a payee entity that operates through Iberpay (EBA requires submittal one additional day in advance). It is also no longer compulsory to indicate the first SEPA debit of a series as the first (FRST) before sending recurring debits (RCUR).

BBVA and SEPA

BBVA offers issuance of SEPA transactions including transfers, debits, and financed debiting (Core and B2B). SEPA operations can be sent conveniently through the BBVA electronic banking channel or by using your regular online channels.

In addition, BBVA offers other value-added services: information on the requirements for SEPA instruments, programs to create SEPA files, consulting for start-up, re-calculation service for debiting due dates, expanded 640-character descriptions for debits, data conversion services, same-day crediting to BBVA payees, same-day debiting of BBVA accounts, information on modifications to debtor accounts, etc.

For more details about the channels and formats available in each country, contact your BBVA branch.

Conduct

This code of conduct was approved by the BBVA Board of Directors on May 28, 2015.

(565 kB) -- Code of conduct

 

In accordance with the regulations of the Deposit Guarantee Fund, there is a double coverage, one for deposits and another for securities. In both cases, the maximum guaranteed amount is €100,000.

Deposit guarantee fund

Regulations

  • Document of the CNMV: Reform Document 09_2014. See document.
  • Royal Decree 878/2015 of October 2. See document.
  • Act 11/2015 on the resolution of credit institutions. See document.
  • Legislative Royal Decree 4/2015 of October 23. See document.
  • Fulfillment of article 39.7 of EMIR-Segregation and Portability. See document.

 

Regulations

The links to the websites of the market infrastructures included on this page have been included for information purposes, and the information provided in it is of a purely illustrative nature. The information supplied should not be considered financial advice under any circumstances, nor should it be understood as a recommendation to carry out operations nor shall it constitute the basis for a decision to be taken in any given direction. Banco Bilbao Vizcaya Argentaria, S.A. or any other company of the BBVA group (hereinafter, ‘BBVA’) assumes no commitment to communicate changes or to update the content of this page. BBVA considers the links to the websites of the market infrastructures included on this page to be reliable sources. Nevertheless, although reasonable measures have been taken to ensure the information contained is not incorrect or erroneous, BBVA does not declare or guarantee, neither expressly nor implicitly, that it is accurate, complete or up-to-date, and it should not be relied upon as though it were. BBVA expressly declines any responsibility for error or omission in the information contained in the document.

BBVA documentation

  • Notice of risks for the purposes of the EMIR: see document
  • Document warning of risks with regards to CSDR: see document.

Information on Recapitalization instruments

Information on financial instruments subject to the resolution system of the Directive on Banking Recovery and Resolution.

BBVA has an advertising or business communications policy that sets forth suitable criteria and procedures to ensure compliance with the standards, principles and general criteria of applicable regulations governing advertising, as follows:

  • Orders EHA/1718/2010 and EHA/1717/2010 of June 11, Article 4, on the regulation and control of advertising.
  • Circular 6/2010 of September 28, issued by the Bank of Spain [Banco de España] in Regulation Three.

BBVA's Advertising Communications Policy in Spain.

A structured product is a combination of two or more financial instruments that comprise a single structure. This is a single and indivisible package that combines a product linked to interest rates with one or more financial derivatives. Once the issuer provides the final terms of each structured bond to us, the related documents will be made available in this section. Said documentation describes in detail all the characteristics and conditions specific to each issue.

View the Documentation on Structured Bonds.