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Accounts, credits and mortgages: this is how the merger between Bankia and CaixaBank will affect the customer


Clients of CaixaBank and Bankia they wonder what will happen to their contracted products after the merger between the two entities materializes. Although at first they can breathe easy, since the conditions will be maintained, each bank could modify additional products to get bonuses. The closing of offices is also foreseen, so it will be more difficult to carry out procedures in person.

Although the conditions of the accounts will most likely remain as they are now, it is true that banks can modify the conditions of the accounts unilaterally, regardless of whether the merger takes place. Of course, in case of doing so, the entity must notify the client two months in advance so that it can be assessed whether it is convenient to maintain the account or transfer it to another entity.

One of the consequences that Bankia customers could see is the renumbering your bank accounts. In any case, it would be a modification that would not generate costs for the client, they explain from the HelpMyCash portal. In addition, you must pay attention to the use that is given to the account, since if it is from which the mortgage payments are paid and it is only used for this purpose, after the merger may not impose a maintenance fee different from that established in the mortgage loan deed. On the other hand, if the payroll is domiciled in this account or it is used to pay other bills, there may be changes after the union of the two entities.


Customers who have a mortgage or other type of loan, from the financial website indicate that the contract would remain intact and unchanged after the merger, with which the term, interest rate or commissions will be the same. On the other hand, in the case of the products contracted to obtain bonuses, they could become more expensive or cheaper, if their conditions are not set in the mortgage deed, when a possible change in premiums of home, life or payment protection insurance, among others.

On the other hand, and in the absence of knowing whether CaixaBank and Bankia will operate under another brand or will maintain their current distinctive, it is more than predictable that there will be restructuring of the branch network and staff who works on them. Thus, clients may suffer variations in their branch, which could lower the blind forever or reduce the provision of services to which we are accustomed, which will make them have to move to another address to complete the usual procedures. Those consulted recommend making sure that you have saved all the documents related to the mortgage, since later it could be more difficult to recover them. In addition, consumers will also be affected when it comes to contract products or negotiate conditions, having to deal with different personnel.


For the association of financial users Asufin, the merger between Bankia and CaixaBank will not be favorable for the consumer as it implies a significant movement of bank concentration that "is worrying and limits competition". They also consider that it would generate an entity "too big to fail" ('too big to fail'), which "always represents a risk for the consumer."

Remember that both entities have a "high litigation" for the sale of mortgages and other financial products with abusive clauses that have been declared void in the courts, such as the multi-currency, in the case of CaixaBank, or the floor clause, in the case of Bankia. They also warn that they are the entities that marketed and keep alive the largest number of mortgages referenced to the IRPH index.

In the same vein, the Organization of Consumers and Users (OCU) has spoken, demanding that the Government impose the necessary conditions to guarantee an adequate level of competition in financial services before authorizing a bank merger. "The disappearance of a competitor is a bad news in an already concentrated market", since it" limits the choice of consumers. "Among the consequences are" the rise in prices of financial services in the medium and long term. "

For its part, Adicae considers "fundamental" that in a merger that would give rise to the largest Spanish group " repair multiple consumer fraud and abuse on the part of the Spanish banks that continue without solution ".

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