BBVA USA announces additional client and employee offers in response to the ongoing COVID-19 outbreak
- Client offers: Include special loans, waivers or refunds of certain fees and special assistance on home equity lines of credit
- Employee benefits: Bank announces full coverage on COVID-19-related tests and treatments for employees
- Branches: Bank previously announced closing of most branch lobbies, instead serving customers primarily through its drive-thrus
Mar 25, 2020

HOUSTON, March 25, 2020 /PRNewswire/ -- BBVA USA is providing additional assistance across its footprint to those who have been negatively impacted by the COVID-19 outbreak, including new offers for consumers and small businesses, and specialized benefits for employees.

The bank has rolled out the additional client offers as the COVID-19 pandemic - and its corresponding impact - continues to develop in the U.S. The offers have been tailored to clients' specific areas of need during the ongoing crisis, and will be available as BBVA continues to monitor the current health situation.

"We understand that this crisis is constantly evolving and is impacting our clients in different ways as it unfolds," said BBVA USA President and CEO Javier Rodriguez Soler. "We are paying close attention to our customers and doing the best we can to help them get through this very difficult time. As this situation further develops, the bank's dedicated team will continue to work to bring additional offers that will help mitigate some of the stresses our clients are facing."

BBVA USA initially announced its package of offers on March 13. Today, the bank is announcing additional assistance, including:

  • Fixed rate small business loans of up to $50,000 with first payment not due until 90 days after opening
  • Consumers and small businesses may request refunds of overdraft fees
  • Small businesses may request waivers of service charge fees on deposit accounts
  • Special assistance and rates for advances on existing home equity lines of credit

BBVA is currently making these offers available and will monitor the ongoing situation surrounding COVID-19 in order to enact an end date.  Fees will be refunded at BBVA's discretion. All loans are subject to approval, including credit approval.

Previous, and still ongoing, offers made available by BBVA on March 13 included:

  • Deferred and extension payments on existing consumer and small business loans and credit cards
  • Waived and refunded ATM fees
  • Penalty-free CD withdrawals, for CDs opened prior to March 1

All accounts are subject to approval, which may include credit approval. For questions on accounts and to speak with a telephone banking agent, customers can contact 844-BBVA-USA. For questions about loan deferrals and extensions, customers can visit this special page dedicated to COVID-19 loan assistance.

On March 20, the bank also announced that it would be closing most of its 637 branch lobbies and instead serving customers through its drive-thrus as a proactive measure to protect the health and well-being of customers, employees and communities, as well as do its part to limit the spread of the coronavirus COVID-19. Five percent of branches will operate with limited lobby hours three days a week. These are branches without a drive-thru and are located more than 10 miles from the next closest BBVA location.

The bank is also encouraging customers to utilize BBVA's award-winning mobile app to deposit checks, transfer funds, make bill payments or send domestic or international wires, among other functionalities. 

The bank continues to work with its critical response teams, suppliers and vendors, to avoid interruption to bank operations and to continue providing service to its customers.

Employee coverage during COVID-19 outbreak
In addition to the specialized client offers, the bank is also taking measures to assist with the safety and well-being of its employees, including through employee benefits.

In response to the pandemic, the bank announced to its employees that the company's health insurance plans would fully cover all in-network COVID-19-related tests and treatment. Employees and their covered dependents who are on BBVA USA health plans will not be required to satisfy their deductible before the plan begins paying 100 percent of the expense, and will not be required to pay co-insurance.

"The safety of our employees is one of our top priorities during this crisis, and we want to make sure that we are taking the right steps to protect our teammates throughout the bank's footprint," said BBVA USA Chief Talent & Culture Executive Rosilyn Houston. "This situation is one that we have never seen before in our lifetime, and we need to provide our employees with the resources they need to both preserve and protect their health."

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About BBVA

BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers' real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.

In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.


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