BBVA absorbs Uno-e, changing account details and fees

Uno-e vanishes: BBVA absorbs online bank and changes rules

The merger by absorption of Uno-e into BBVA, announced on the entity's website, ends one of Spain's early online banking ventures. Customers of the former institution (code 0227) will see their accounts migrated to BBVA digital branch 9465, with new account numbers starting with 0182, according to information provided to affected users. Conditions, say users, will not remain the same. The credit card will cost €15 annually, even with direct salary deposit, and SMS alerts will no longer be free. Discontent spreads among those who have operated without fees for years.

The end of a fee-free entity

Uno-e's disappearance is not an isolated case. It occurs in a context of banking consolidation that has reduced the number of institutions and passed crisis costs to clients. Affected users recall that Uno-e was born as a bet on commission-free electronic banking, and its absorption by BBVA represents a model change. Branch 9465, formerly Uno-e's, becomes BBVA's digital branch, and operations must be done by phone or internet. Some customers reported problems accessing BBVA's website and had to change passwords.

New conditions: fees and cards

The change in terms did not take long. The credit card, previously free, now costs €15 per year. SMS alerts, formerly free, now cost €0.15 per message. Checks, previously available at no cost, are now charged. Clients with direct salary deposits are not exempt from fees. The entity notified that the "DESPUÉS DE UNO-E" card will cost €15 annually starting January 1, 2020. Some clients decided to cancel cards and move accounts to other entities.

Migration: technical issues and complaints

Account migration was not without problems. Some clients faced difficulties accessing BBVA's web and had to change passwords. The password must have 6 alphanumeric characters, but the site does not clearly indicate this. Clients with numeric passwords had to change them. BBVA customer service did not always know how to answer old Uno-e clients' doubts. Branch 9465 manages migrated accounts, but not all BBVA employees know how it works.

The future of online banking

Uno-e's disappearance leaves a banking landscape dominated by few entities. Some clients chose to move to Openbank, Santander's online entity, or ING, which maintains its free debit card under certain conditions. Banking consolidation has reduced competition and increased fees. Clients seeking fee-free banking have fewer options. The Uno-e-BBVA merger is another example of this trend.

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The migration of Uno-e to BBVA has meant a change in conditions for clients. Fees have returned and competition decreases. Affected users seek alternatives in other online entities, but the landscape is increasingly limited.