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Terms and Conditions of New Gen

The following documents form an integral part of your contractual relationship with the Bank:
 

 

List of authorized countries: Andorra, Argentina, Austria, Belgium, Brazil, Canada, Chile, Colombia, Costa Rica, Croatia, Czechia, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, Norway, Peru, Poland, Portugal, Romania, San Marino, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, Uruguay.
BBVA SA offers the New Gen segment financial service to certain Customers, in accordance with its internal policies and with the regulations for the prevention of money laundering (AML), and with assets of less than 2,000,000 Swiss francs (CHF) or its equivalent in euros (EUR) or US dollars (USD). For other customer profiles, BBVA SA offers financial services more tailored to their needs within the Private Banking segment.
In addition to the aforementioned terms and conditions, we would like to inform you about the special terms applicable to the “New Gen Service” (hereinafter "New Gen Terms of Service"). In case of conflict between the general terms and conditions and the New Gen Terms of Service, the New Gen Terms of Service shall prevail.

1. Financial service

Unless otherwise agreed in writing, BBVA SA’s financial service is limited to the receipt and transmission of orders in relation to financial instruments and digital assets.
The fact that BBVA SA agrees to execute a transaction does not mean that the Bank recommends that transaction or considers that transaction to be suitable taking account of your personal situation. BBVA SA does not examine the appropriateness and suitability of the transactions that you initiate, unless required by law. BBVA SA does not intend to provide investment, legal or tax advice, and does not analyze whether the transaction is suitable for you. Your investment decisions shall be based exclusively on your own assessment of your financial situation and your investment goals, as well as on your own personal interpretation of the information available. The customer is solely responsible for such decisions.
The customer shall carefully review their personal (in particular financial and tax) situation, tolerance for risk, investment goals, and other relevant circumstances in order to assess whether purchasing or selling any asset, including digital assets, is suitable. The customer must only invest in assets that they can afford to lose without having to change their standard of living, and they will cease using the Services if their personal situation no longer permits it. The customer understand that this type of transaction might not offer regular or safe returns.

2. Down payment and maximum deposit

The initial deposit into the New Gen account must come from an account held in the Customer’s name at another financial institution located in one of the countries authorized by BBVA SA. BBVA SA sets the minimum amount to be initially deposited into the New Gen account at 10,000 Swiss francs (CHF), or the equivalent in euros (EUR) or US dollars (USD), which can be achieved through any combination of these currencies. BBVA SA reserves the right to reject initial deposits below the established minimum amount. The rejection can be subject to an administrative fee. BBVA SA reserves the right to reject any incoming payments or transfers at its sole discretion. 
BBVA SA has defined 250,000 Swiss francs (CHF), euros (EUR) or US dollars (USD) as the maximum amount to be kept on deposit in the New Gen Account. If the balance of the New Gen account exceeds this maximum amount, whether in a single currency or through any combination of such currencies, BBVA SA will initiate the process of transferring the New Gen account to the Private Banking segment. In this case, BBVA SA will inform the Customer of the transfer and will request the additional documentation necessary to formalize the mandate of their choice within the Private Banking segment. However, both parties will retain their respective rights to cancel the banking relationship. 
BBVA SA may, at its discretion and at any time, modify the minimum amount of the initial deposit or the maximum amount to be kept on deposit in the New Gen Account. BBVA SA shall communicate any modifications through appropriate means, such as by publishing it on the Bank's website www.bbva.ch

3. Payments

The Customer may make direct or indirect payments through BBVA SA’s e-Banking service or mobile app (the “System”). Direct payments can be introduced and executed without the intervention BBVA SA and are limited to a certain amount and a monthly maximum. For the customer's security, payments exceeding the established limits for direct payments will require BBVA SA's involvement in order to be processed. Indirect payments must therefore be requested through BBVA SA's messaging service in the System. The approval of such requests is at BBVA SA's sole discretion and only possible from Monday to Friday during usual opening hours. BBVA SA shall not be liable for any damages resulting from any delay. The Customer may only make indirect payments to accounts held in their name at other financial institutions. Indirect payments to third parties are not permitted. Different fees for direct and indirect payments can apply.
Any established thresholds or limits shall be published in the System or communicated by appropriate means. The “Conditions for payment transactions” apply.

4. Transfers and trades

Securities transfers
Transfers of funds to and from other financial institutions may only be made to accounts held by the Customer in their own name in a country included on BBVA SA’s list of authorized countries; therefore, transfers to or from third-party accounts are not permitted. Outgoing securities transfers must be requested through the System’s messaging service and are subject to approval by BBVA SA. When the Customer has initiated a transfer at another financial institution to their New Gen Account, they must notify BBVA SA through the System. The approval of such requests is at BBVA SA's sole discretion and are subject to usual opening hours.
Safe Custody Regulations apply.
 
Order placement and execution
The Customer may introduce transactions with financial instruments through BBVA SA’s Online Trading Service available in the System. The service is available for different types of financial instruments, such as equities, ETFs and funds, among others. BBVA SA may reduce or expand the range of the offered financial instruments at any time and at its sole discretion.
BBVA SA’s Online Trading Service allows different types of orders such as market and limited orders. BBVA SA is working constantly to improve the service. New types of orders might be introduced, and existing types might be interrupted or discontinued at BBVA SA’s sole discretion.
BBVA SA is not responsible for any losses, expenses, costs or liabilities incurred by you as a result of instructions given, or communications sent through the System. The Basic conditions for e-banking services and the General Banking Terms and Conditions apply.
BBVA SA may limit the possibility of introducing orders using the Online Trading Service during certain trading hours. Even during established trading hours, the Online Trading Service may not be available 24 hours a day. Whether or not the Customer can trade certain financial instruments might depend, among other things, on the trading days and hours of financial centers, public holidays, the working hours of trading centers and any of the services provided by the Bank or any other party, such as brokers.
Trading hours for financial instruments can vary according to the market and financial instrument or product. Any changes to the trading hours will be communicated by appropriate means such as publishing these on BBVA SA’s website www.bbva.ch or through the System.
 
Trading financial instruments that are not yet available in the System
If the Customer are interested in trading in financial instruments that are not currently available in the BBVA SA's Online Trading Service, they can request to make a specific financial instrument available for trading through the messaging service in the System. In order to process the request, the Customer needs to provide BBVA SA with certain information on the financial instrument such as: Name of the financial instrument, ISIN, Stock Exchange, Symbol and/or CUSIP.  BBVA SA might take up to 48 working hours after receiving the request to inform whether it is possible to handle your request. Whether or not the specific financial instrument is made available to trade is at BBVA SA’s sole discretion. BBVA SA will notify the Customer through the messaging service in the System once the request has been reviewed.
 
Corporate actions
Corporate actions are events by a company that can bring changes to the securities issued by the company. The Customer's attention in these cases is required, as some events allow shareholders or bondholders to vote. Examples of corporate actions include mergers and acquisitions, rights of issues, stock splits or dividends, among others.
In case a financial instrument the Customer holds on their account is affected by a corporate action, they will receive a notification through the System, which they will be able to respond toi under the section “Corporate Actions.” BBVA SA will only perform any acts such as conversions, the purchase or sale of subscription rights, accepting or declining public takeover bids, etc., upon the Customer's instruction. If instructions are not received in due time, BBVA SA has the right but not the obligation to proceed as BBVA SA deems appropriate.
The Safe Custody Regulations, which are an integral part of the agreement between the Customer and BBVA SA, apply.
 
Automatic FX exchange
Financial instruments are usually traded in a single base currency. In case of buying or selling an instrument with a different base currency than the one available in the account, an automatic currency exchange will be performed (“Auto FX exchange”).  For any such Auto FX exchange triggered, the exchange rate for the concerned currencies will be calculated by BBVA SA, at the moment of the introduction order. However, the final exchange rate can differ substantially until the transaction is actually executed and settled. Delays in executing and settling the transactions are possible due to different factors (i.e., operating hours, calendar holidays, etc.). BBVA SA is not responsible for any losses, expenses, costs or liabilities incurred as a result of the introduction of any orders.
New Gen account rates apply.
 
Digital Assets
The transfer of digital assets to and from the Customer's Digital Asset Account at BBVA SA is not possible. The service offered by BBVA SA will only allow the Customer to buy and sell digital assets, including the custody of the same, as established in the agreement between the Customer and BBVA SA.
 
Confirmations
Confirmations of the transactions carried out are sent to the Customer through the System and can be found under “Documents”.  Should the Customer note a difference between the operation concluded through the Online Trading Service and the confirmation received, they must notify BBVA SA immediately upon receipt of the confirmation, and no later than 48 hours from the conclusion of the operation. If BBVA SA does not receive any objection without undue delay, the confirmation is considered to have been received and accepted.
 
Data and information
Data and prices displayed in the System are not representative. When viewing order quotes you cannot consider them binding. The price displayed for a certain financial instrument might not be the final execution price. BBVA SA is not liable for any inaccuracies in the data transmitted, especially the correctness, accuracy or completeness of the same.
 
Technical maintenance
BBVA SA periodically performs technical maintenance of its systems, during which time, access to the System or the website may not be possible, and it may also not be possible to carry out transactions and other operations. BBVA SA may notify the Customer in advance of any planned maintenance work through appropriate means such as publication on its website www.bbva.ch
 
Claim process
Any claim must be sent to BBVA SA through the messaging service in the System without undue delay.
 
Support
Customer support is offered by BBVA SA from Monday to Friday between 9:00 and 17:00 CET and the operative support is available from Monday to Friday between 9:00 and 17:00 CET.
In case the Customer is unable to introduce an order through the System, BBVA SA offers the possibility to place orders by email or by telephone from Monday to Friday between 9:00 and 17:00 CET. The Customer is aware that these orders placed through BBVA SA’s customer service may incur additional costs. The contact information is published in the System.

5. Loan and Credit Line Request

The New Gen contract between the Customer and BBVA SA allows the Customer to enter into leveraged transactions, where the requirements established by BBVA SA are met. If the Customer is interested in requesting a credit line for this purpose, they can contact BBVA SA through the messaging service in the System. BBVA SA will calculate margin requirements on an Account basis and determine whether the Customer is able to enter into leveraged transactions and the required margin to do so. BBVA SA will determine the minimum margin required at its sole discretion, using its own methodology. Margin requirements are subject to change at any time without prior notice.

6. Fees

The fees applicable to the Services are published in the System.
In addition to standard or agreed upon interest and commissions, BBVA SA shall also debit the Customer for its actual disbursements. BBVA SA reserves the right to charge the Customer retroactively for any expenses whatsoever, such as taxes and fees levied in connection with transactions made on behalf of the Customer in or outside Switzerland or which may be incurred after closing of the account statement. Any taxes or charges that are levied at or by BBVA SA in connection with the business relationship between the Customer and BBVA SA or that BBVA SA must withhold on the basis of Swiss law, treaties or contractual agreements with foreign authorities (e.g. 30% withholding tax pursuant to the US Foreign Account Tax Compliance Act, FATCA), as well as the charges incurred at BBVA SA, are to be borne by the Customer and/or may be passed on to the Customer.
A cash deposit fee may also be charged.

7. Customer Data Modification

For the duration of the contractual relationship with the BBVA SA, the customer undertakes to notify the BBVA SA within 30 days on their own initiative if a change in circumstances makes any information they have provided BBVA SA with incorrect. The Customer can use the messaging service provided by the BBVA SA and notify any change through the System.

8. Account closure

If the Customer wishes to close their account at BBVA SA, you have to request the closure through the messaging service in the System. In that case, all assets deposited in the account will only be transferred to an account held in the Customer's name at a financial institution in a country on our list of authorized countries. The Customer will not be able to transfer any assets in favor of a third party. BBVA SA reserves the right to request additional information and/or documentation before executing any order.
BBVA SA reserves the right to keep any cash or digital assets equal to or under the cancellation or withdrawal fee in the event of account closure.