Business · Companies · 5 hrs ago
AI tools and investment alternatives threaten Spanish banks’ deposits
AI agents could move customers’ money to better-paying options with little effort, raising concerns about banks losing deposits.
The issue involves banks across Europe, with Spanish banks under particular scrutiny because they hold a high share of deposits that pay no interest.
CaixaBank and Unicaja pay no interest on 73% of their deposits, according to UBS data.
Higher interest rates have made alternatives more attractive: Spanish, Italian and French government bonds yield close to or above 4% over 10 years.
A planned European investment account aims to direct savings into business investment in key sectors across the EU.
These alternatives could put pressure on banks’ deposit margins if customers move their money, and analysts say that could weigh on bank shares.
Banks and investors are watching how the threat develops as the European account and AI tools create more ways for customers to shift their savings.
Meta’s Muse personal AI agent could move customers’ money to more advantageous options, raising concerns about Spanish banks’ deposits.
Spanish banks hold a higher share of non-interest-bearing deposits than banks elsewhere in Europe, according to the article.
CaixaBank and Unicaja do not pay interest on 73% of their deposits, the highest share among the banks cited.
Higher interest rates have made sovereign debt more attractive, while a proposed European investment account aims to channel savings into investment.
Investment banks warn that easier movement of customer money could put pressure on banks’ deposit margins and interest income.
- Who
- Spanish banks, including CaixaBank and Unicaja, face potential competition for customer deposits.
- What
- AI tools and investment alternatives could make it easier for customers to move savings away from bank deposits.
- When
- Expansión published the article on 23 October 2026.
- Where
- Spain and Europe; Meta’s Muse was launched in the United States.
- Why
- Higher interest rates and new ways to move money could make alternatives to deposits more attractive.
This story does not have two clearly opposing sides.
Sovereign debt became more attractive to savers, according to the article.
Meta launched its Muse AI agent in the United States.
Expansión published its report on threats to Spanish banks’ deposits.
- CaixaBank and Unicaja
- Do not pay interest on 73% of their deposits, according to UBS data
- Sabadell
- Pays interest on 40% of its deposits
- Bankinter
- Pays interest on 43% of its deposits
- Santander and BBVA
- Each report an average cost of 0.58% for Spanish household deposits
- Spanish deposits
- Nearly €1 trillion is described as savings sitting idle in deposits
- Sovereign debt yields
- Spanish, Italian or French 10-year debt yields close to or above 4%
What people are saying
Autonomous AI agents pose a structural risk to deposit margins and net interest income if they allow customers to switch easily to more competitive offers
The most structural risk is the ongoing financialization of household savings in the form of sovereign bonds and investment products, which could limit deposit growth over time