BBVA branch in Mexico, where thousands of inactive accounts are being closed under new financial regulations.
Credit : Shutterstock, JRomero04
BBVA customers in Mexico have started receiving unexpected news: their bank accounts are being closed.
Since March 21, the banking giant has been cancelling accounts left dormant for months. This move comes as part of the bank’s effort to comply with Mexico’s Law on Transparency and Regulation of Financial Services, a rule designed to ensure banks maintain updated customer records and optimise their digital platforms.
In a formal notice to customers, BBVA clarified that these actions follow national financial regulations aimed at improving how financial services are offered. The bank confirmed that accounts meeting two specific criteria are being targeted.
Why BBVA is closing inactive accounts
According to BBVA, the main reasons behind these closures are simple but significant. The bank is cancelling accounts that have shown no activity for at least three consecutive months and have a balance of zero. If both factors apply, those accounts are being closed without further delay.
The closures affect a wide range of account types, from personal savings to business accounts and even dollar-based accounts typically used near border regions.
Could BBVA clients in Spain face similar closures?
While this initiative is specific to BBVA Mexico, customers in Spain are naturally wondering if the same could happen to them. The Bank of Spain has clarified that account cancellations are only permitted if the contract signed by the account holder allows it. Moreover, Spanish banks are legally required to give clients a minimum of two months’ notice before any closure takes effect.
When a bank cancels an account in Spain, it must return any positive balance to the client, and the customer is responsible for returning any related payment instruments such as cheque books or debit cards.
So far, BBVA Spain has not announced a similar process. Still, those with inactive or little-used accounts might want to review their terms and conditions or contact their branch to stay informed.
The situation in Mexico highlights how financial institutions are increasingly stepping up efforts to comply with transparency laws and improve operational efficiency—something that could, in the long term, be mirrored in other regions.
