Banco Bilbao Vizcaya Argentaria SA

Banco Bilbao Vizcaya Argentaria SA is a Spanish bank, better known simply as BBVA. Its UK presence is a London branch, not a separate British bank, and it is set up to serve its own clients here rather than the general high street market. If you are looking for a UK current account, BBVA is not one of the names you will find on the list of banks required to offer fee-free basic bank accounts¹.

What the branch does offer is private banking and lending to clients of BBVA London. The FCA register lists two permissions for the firm: entering into a regulated mortgage contract as lender, and accepting deposits². The register records the firm reference number 139228, a status of Authorised with a status effective date of 3 March 2023, and the website www.bbvauk.com².

The practical points for a UK consumer are these. BBVA London only provides financial services in the UK and can only serve clients of BBVA London, so a query about a Spanish account has to go to BBVA Spain³. Money held with the branch is covered by the Financial Services Compensation Scheme, which protects deposits in authorised UK banks⁴. And the branch's own complaints route runs through its London office³.

What BBVA does in the UK

BBVA's UK operation is a branch of the Spanish bank, authorised to accept deposits through that branch. The Bank of England's list of banks incorporated outside the UK that are authorised to accept deposits through a UK branch includes Banco Bilbao Vizcaya Argentaria⁶. That is the formal basis on which the branch can take UK deposits.

The branch is not a participant in the schemes that shape most UK current account customers' experience. The nine designated institutions required to offer basic bank accounts are Barclays UK, The Co-operative Bank, HSBC UK, Lloyds Banking Group (including Halifax and Bank of Scotland brands), Nationwide Building Society, NatWest Group (including RBS and Ulster brands), Santander UK, TSB and Virgin Money¹. BBVA is not among them, and it does not appear on the list of banks that must provide fee-free basic bank accounts⁷.

That matters because it tells you what kind of bank this is in the UK. It is not competing for everyday current account customers. It is a branch serving its own client base, which in practice means private banking clients and borrowers rather than someone opening their first account.

The wider UK banking market it sits outside is large and branch-based. Building societies and mutual-owned banks operate through approximately 1,300 branches, holding a 35% share of branches across the UK⁸. Larger banks and building societies providing personal current accounts ran 4,475 brick-and-mortar branches across the UK in the first quarter of 2023, falling to 4,265 by the second quarter⁹. BBVA's single London office is a different kind of operation entirely.

Who BBVA's UK branch serves

The branch's own client information is explicit about its scope. BBVA London only provides financial services in the UK, and is only able to service clients of BBVA London³. The Spanish-language version of the same page says the same thing: BBVA Londres solo ofrece servicios financieros en el Reino Unido y solo puede atender a los clientes de BBVA Londres¹¹.

In practice that means the branch is not a general-purpose UK retail bank. If you hold an account with BBVA in Spain, the London branch cannot deal with it. Complaints about Spanish accounts go to BBVA Spain³. That division is worth knowing before you call, because it determines who can actually help you.

For anyone comparing this with the mainstream UK market, the contrast is sharp. The largest banks have been required to offer fee-free basic bank accounts, and under the Payment Accounts Regulations 2015 certain banks are under a legal obligation to offer basic bank accounts to customers who are legally resident in the United Kingdom and do not have a bank account, or who are not eligible for a standard current account¹². BBVA carries no such obligation in the UK.

If you are looking for an account you can open as an ordinary UK resident, the current accounts guide sets out what is available and how eligibility works. If you are an existing BBVA London client, the branch's own site is the place to start.

Deposit accounts with BBVA in the UK

The FCA register lists accepting deposits among the firm's permissions², and the Bank of England lists the firm as authorised to accept deposits through a UK branch⁶. So deposit-taking is within what the branch is authorised to do.

What the branch does not do is offer the kind of current account most UK consumers would recognise. It is not on the list of designated providers of basic bank accounts¹, and it is not among the banks required to offer fee-free basic accounts⁷. The accounts it holds are for its own client base rather than the open market.

If you are weighing up where to hold savings, the questions that matter are the same whoever you bank with: whether the firm is authorised to accept deposits in the UK, whether your money is covered by the Financial Services Compensation Scheme, and what access you have if you need to move money or resolve a problem. The savings guide covers how these accounts work and what to compare. For tax-wrapped savings, the ISA guide explains the rules.

One point that catches people out: many accounts aimed at British expats are held in the Channel Islands, which includes international accounts offered by Barclays, Lloyds, NatWest and Santander¹³. Where an account is held affects which protection scheme applies. If you are comparing an offshore or expat account with a UK one, check which scheme covers it before you commit.

Mortgage lending through BBVA's UK branch

The FCA register lists entering into a regulated mortgage contract as lender among BBVA's permissions², so mortgage lending is within the firm's authorised activities in the UK.

Whether a particular borrower can get a mortgage from the branch is a different question. Banks tend to only provide mortgages for purchases in countries where they have offices¹⁴. BBVA's UK presence is a single London branch serving its own clients, which shapes what it is likely to lend on.

For anyone arranging a UK mortgage, the route is usually either direct to a lender or through a regulated mortgage broker. You can apply for a mortgage direct to a building society, or other type of lender, or, alternatively, use a regulated mortgage broker to help you¹⁵. The mortgages guide sets out how applications work, and the home buying guide covers the process from offer to completion.

There are also rules that shape what any lender can offer, including limits on how much of a lender's book can be lent at higher income multiples. Those rules apply across the market, not to BBVA specifically, and the mortgages guide explains how they work in practice. For the rates and criteria a particular lender is offering today, the lender itself is the only place to get current figures.

If your interest is in borrowing against a property abroad, the international guide covers the cross-border considerations, and the money transfers guide explains how to move funds between countries.

How to contact and bank with BBVA in the UK

The branch's contact route for complaints is set out in its own client information. Private banking customers of BBVA London can email complaints@bbvauk.com or write to the Complaints Officer, Banco Bilbao Vizcaya Argentaria, S.A., London Branch, One Canada Square, 44th floor, Canary Wharf, London E14 5AA³.

The registered office is the same address: One Canada Square, 44th Floor, Canary Wharf, London E14 5AA⁵. The branch is registered in England with company number FC014702 and branch number BR001254⁵.

If you are not a BBVA London client, the branch cannot help with your query, and that includes anything to do with a BBVA account held in Spain³. The Spanish-language page repeats the same limit¹¹.

If you are choosing a bank and want to know what opening an account involves, the how-to guide walks through the steps, and the banks directory lists providers.

BBVA operates in the UK as a branch of a Spanish bank

This is the structural point that explains most of the rest. BBVA's UK operation is not a subsidiary with its own UK banking licence. It is a branch of the Spanish parent, and it appears on the Bank of England list under the heading of banks incorporated outside the UK authorised to accept deposits through a branch in the UK⁶.

The prudential regulator for banks in the UK is the Prudential Regulation Authority, which as part of the Bank of England makes sure firms do business safely and reduce their chances of getting into financial difficulty¹⁶. The PRA is the body that authorises the branch.

The branch's own statement of its regulatory position is that it is authorised and regulated by the European Central Bank and the Bank of Spain, authorised by the Prudential Regulation Authority, and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority⁵. The Spanish-language page gives the same position: authorised and regulated by the European Central Bank and the Bank of Spain, considered authorised by the Prudential Regulation Authority, and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority¹¹.

The company records confirm the branch's UK registration. The company number is FC014702, the company status is active, and the branch was incorporated on 1 October 1988⁵. The FCA register records a previous name of Banco Bilbao Vizcaya SA², reflecting the merger that produced the current name.

How your money is protected with BBVA's UK branch

Deposits held with an authorised UK bank are covered by the Financial Services Compensation Scheme. FSCS protects your money held in all authorised UK banks, even if they don't have any branches¹⁷. That last point matters for a branch operation: the absence of a high street presence does not remove protection.

You can check whether a provider or adviser is authorised by the PRA or FCA on the FCA register⁴. The FSCS also directs consumers to check the Financial Services Register on the FCA's website at register.fca.org.uk to see if the firm mentioned is authorised¹⁸.

There is a second layer of protection that applies to payments. BBVA's London client information sets out a Consumer Standard of Caution, which includes paying attention to fraud alerts and information provided by BBVA and your other payment service providers, reporting fraud related to your BBVA account immediately upon discovery, sharing all necessary information when reporting your claim to aid in the investigation, and reporting the fraud to the police as soon as you are aware of it¹⁹. Meeting that standard is part of what determines whether an authorised push payment fraud claim succeeds.

Where protection stops is worth being clear about. The FSCS covers deposits in authorised banks, but it does not cover every product sold by every firm, and it does not cover losses from investments that fail on their own terms. If you are unsure whether a particular product is covered, the consumer protection guide explains the schemes and their limits, and the scams and fraud guide covers what to do if something goes wrong.

Checking BBVA on the FCA register

The FCA register entry for Banco Bilbao Vizcaya Argentaria SA shows the firm reference number 139228, a status of Authorised, and a status effective date of 3 March 2023². It also records the permissions, the website www.bbvauk.com, and the previous name Banco Bilbao Vizcaya SA².

You can search the Financial Services Register for companies and individuals authorised by the FCA¹⁸. The register is the authoritative source for whether a firm is allowed to do what it claims, and it is worth checking before you hand over money or personal details.

The company filing record is a separate check. Companies House shows the company number FC014702, an active status, and incorporation on 1 October 1988⁵. The branch number BR001254 appears in the branch's own client information¹⁹.

If you want to understand how the regulators divide their work, the regulation and policy guide explains who makes the rules and how changes affect consumers. The lenders directory lists firms operating in the UK market.