Spain's BBVA rolls out new borderless account Denizen.
Global Banking News-March 28, 2018--Spain's BBVA rolls out new borderless account Denizen
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Global Banking News - 28 March 2018
Spanish lender, Banco Bilbao Vizcaya Argentaria (BBVA) (NYSE: BBV) (BBVA.MC), has said that it has launched a new global and borderless account, Denizen, for expat banking, the BBR has reported.
With the new borderless account, it is claimed that customers will be able to secure money in any country and pay it out in another country instantly avoiding international transfer fees and currency exchange fees. The company reportedly said that the service would be expanded to the top ten top European Union countries in the second half of the year, including the UK.
Designed at the BBVA's New Digital Business unit in San Francisco, the new global account features a mobile app for on-the-go money management. The Denizen account will provide a no FX fee and no bank-owned ATM fee debit card. Denizen is intended to help save time and reduce costs for individual wire transfers, remittances, payments, the report said.
Denizen will also be provided to refugees, immigrants and frequent travellers to manage finance across borders, in addition to expats, it added.
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