Free account + 3% interest – is it attractive?

BBVA current account now in Germany

25.8.2025

Since summer 2025, the German banking market has seen an interesting new player: BBVA – one of the largest financial groups in Spain – now offers a digitally managed current account here as well.

What makes the BBVA account interesting:

3% interest for new customers,
Free current account with no conditions, and
Cashback on card payments.

Everything important in one account ► https://www.bbva.de/girokonto ✅ (The account is also available in English ⇒ language switch top right)

Behind the offer is not a young start-up, but an experienced banking group with over 165 years of tradition and millions of customers worldwide. But what exactly does it entail – and is it worth opening?

3% on the current account – including savings account functionality

For a long time, interest on current account balances in Germany had practically disappeared. BBVA is setting new standards by paying 3% p.a. on balances up to €500,000 for new customers – directly in the current account. No need to transfer funds to a separate savings account. Monthly interest credits automatically ensure compound interest.
Details: The 3% applies for the first 6 months after account opening. After that, for up to 5 years, there is a variable interest rate linked to the ECB deposit rate – currently typically between 0.5% and 1% p.a.
Thus, the account is effectively a combination of a current account and a savings account: flexible payments included, but every deposit earns interest.

Permanently free of account management fees

Account management: €0 – no conditions, no minimum income.
Card: Free Debit Mastercard (physical & digital), compatible with Apple and Google Pay.
More security: Card number not printed, dynamic CVV in the app.
Girocard: not available – in practice the Mastercard is almost always sufficient.

Cash withdrawals: Free for amounts of €150 or more. For smaller amounts, the bank charges a €2 fee.

Check conditions » Open account

Cash tip

To avoid fees, withdraw larger amounts at once or directly at the supermarket (from a certain purchase amount). Abroad, BBVA does not charge a foreign currency fee, and at its own ATMs in Spain, withdrawals are free.

Additional benefit: 3% Cashback

For the first 6 months, paying with the BBVA debit card earns 3% Cashback. A maximum of €350 in card payments per month is eligible. This means up to €10.50 per month or a total of €63 bonus – automatically credited.

Digital app with savings box feature

The account is managed fully online: from opening to support – everything via app and web. Particularly practical: the savings box. Sub-accounts can be created for individual goals (holiday, emergency fund, etc.). With rounding or standing order rules, saving becomes automatic. The balance in the savings boxes earns the same interest. For questions, a 24/7 German-speaking customer service is available – not just a chatbot.

Are there any limitations?

Deposit guarantee & possible downsides

Deposit protection: up to €100,000 per customer through the Spanish scheme (EU standard).
Interest promotion: 3% only valid for 6 months. Afterwards, significantly lower, variable rates.
No Girocard: not an issue for most, but some merchants still require it.
Cash rule: Withdrawals under €150 incur a €2 fee; easy to avoid with supermarket option or larger sums.
Overdraft & limits: Small overdraft facility (approx. €500) available, daily limits (e.g. €10,000) for security reasons.

Taxes: German IBAN, exemption order possible, capital gains tax withheld as with domestic banks.

Why is BBVA expanding into Germany?

Germany is a savings market: high account balances but often low interest. This is exactly where BBVA steps in – with attractive interest and cashback to quickly attract customers and deposits. Similar to other markets (e.g. Italy), the bank is likely to offer additional products such as investment services or loans in the medium term. For customers, this mainly means one thing: more competition and better conditions.

Who is this offer suitable for?

Interest seekers & savings fans: 3% for 6 months on balances, no extra account needed.
Everyday users: Free account with good app, Mastercard, Apple/Google Pay.
Travelers: Worldwide card payments without foreign exchange fees, free withdrawals at BBVA ATMs in Spain.
Savers: Additional savings box feature, balances earn the same interest.

Practical tip (3-minute strategy)

Open account: Online identification, activate card, set up Apple/Google Pay.
Start savings box: Create goals and set automatic savings rules.
Maximize cashback: For the first 6 months, make all payments with the card.
Monitor interest: Set a reminder after 6 months and check new offers.
Smart cash handling: Avoid small withdrawals, use supermarkets or larger sums instead.

Conclusion: test it and take both bonuses

The BBVA current account combines free account management, digital features, 3% starter interest and cashback in one package. Ideal to use initially as an additional account and take advantage of the welcome phase. After the interest promotion ends, you can compare flexibly – with no obligation.