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ARCHIVED - Guide for Bankia customers merging with CaixaBank in Spain
Bankia customers in Spain will automatically be transferred to a new online and mobile banking app
The merger between Bankia and CaixaBank, the largest carried out to date within the Spanish financial system, culminated on Friday November 12 with the integration of the technological systems of both banks. The change-over affected an estimated 7.6 million customers, with many unable to access their online accounts to carry out Bizum transfers for the entire weekend.
Now that the dust has settled and the remote banking system is up and running, many customers are wondering how the merger will affect them and their everyday personal and banking practices.
What passwords are needed to check new CaixaBank accounts?
The new system should be fully operational by Monday November 15 and on the first visit to the online banking app, customers can use the same password they had for the Bankia platform. The system will request the usual security checks, for which people will need a mobile phone to complete.
Have the banking fees changed?
The majority of old Bankia customers will automatically be switched over to the CaixaBank ‘Day-to-Day’ programme, which offers the most common banking operations and services free of charge as long as the client meets certain requirements .
CaixaBank ensures that three out of every four clients will be exempt from paying for these services, which means that more than 13.6 million clients will be able to utilise the most common transactions with the bank free of charge.
The remaining group of customers must pay 240 euros of commissions per year (60 euros every three months) for the maintenance of their checking accounts. At Bankia, this amount was 168 euros per year, 14 euros per month.
Will debits cards cost more for ex-Bankia customers?
Users of Bankia origin who are not linked and decide to keep their debit card, in addition, will pay 36 euros per year from January 1, 2022, compared to the 28 euros they paid previously.
Does the merger affect existing CaixaBank customers?
CaixaBank customers will be able to operate normally through the CaixaBankNow web and mobile apps, or through the Imagin application, and use their ATMs, Bizum and cards as usual throughout the merging process.
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