In the Southwest, BBVA Bank is known for its prominent online presence and easily navigable mobile app. To find out if BBVA Bank is right for you, continue reading the review below.
BBVA, which used to be BBVA Compass, has re-branded since April 24, 2019. They are internationally known for having branches in more than 30 countries, and considered an online nationwide bank.
They have a variety of checking and savings accounts and even offers a FREE checking account for low minimum requirements. You can apply all these accounts either online, on your mobile app or at physical branches.
|BBVA Free Checking||Checking||Review|
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 Money Market Account Options
- 6 Compare Money Market Accounts
- 7 CD Account Options
- 8 Compare CD Accounts
- 9 Reasons to Bank with BBVA Bank
- 10 Reasons Not to Bank with BBVA Bank
- 11 BBVA Bank Routing Number
- 12 Contact Customer Service
- 13 How BBVA Bank Compares
- 14 Compare to Other Banks
- 15 Bottom Line
Checking Account Options
BBVA offers a good amount of checking accounts and some even offer bonuses for signing up!
To apply for this checking account, you need an opening deposit of $25, but afterwards there are no monthly Service Charge to worry about.
You will also receive a BBVA Bank Visa debit card and can use it towards Simple Cash Back(SM) Rewards program.
This is BBVA’s Second Chance Checking account for those who have had financial troubles in the past.
You need $25 to open this account but it comes with some notable perks.
This account also comes with a BBVA Bank Visa debit card and access to the Simple Cash Back(SM) Rewards program.
A monthly Service Charge of $13.95 is also required, but you can choose to upgrade to a Free Checking account after a year of positive activity.
You need an opening deposit of $25 just like Free Checking, but there are once again no monthly Service Charge.
As the name implies, this checking account does earn interest, and you can open it with just $25.
There is a monthly Service Charge of $25, but you can waive it by having at least $5,000 in your account.
Another way to waive the monthly Service Charge is have an overall combined balance of at least $25,000.
Compare Checking Accounts
• New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
• Access to 16,000 Chase ATMs and more than 4,700 branches
• Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
• Open your account online now
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
• Chase Overdraft AssistSM: $0 overdraft fee when you overdraw your account $50 or less*
*We won't charge an overdraft fee if you are overdrawn $50 or less at the end of the business day. Chase may pay, for a $34 fee, overdraft transactions at our discretion based on your account history, deposits and transaction amount. If you've enrolled in Debit Card Coverage, everyday debit card purchases like groceries, may be approved at our discretion when you don't have enough money in your account.
Open your Huntington 25 Checking account today and enjoy:
• $300 bonus by making cumulative new money deposits of at least $25,000 within 60 days of account opening. $300 will be deposited in your new account within 14 days of meeting requirements.
• 24-Hour Grace Overdraft Fee Relief. It is designed to give you more time to make a deposit in order to avoid an Overdraft Fee.
• Earn Interest on Balances.
• Free ATM Withdrawals. They’ll waive all non-Huntington ATM cash withdrawal fees at any ATM and reimburse you for some withdrawal fees charged by another ATM owner.
• Waived Monthly Maintenance Fee
• Credit score and identity monitoring at no added cost
Savings Account Options
BBVA has a decent variety of savings accounts, but they don’t earn extremely high interest. They do, however, have a savings account that encourages their customers to save and manage their money responsibly.
With just $25 as an opening deposit, you can start working towards your goals with this savings account.
This account is designed for those who have money set aside for bigger expenses such as a down payment or travel. BBVA Bank provides a program that rewards you each time you deposit money into this savings account.
There is no quarterly fee and it can earn tiered interest on your account balance.
You can also earn a Match Bonus on transfers if you keep up with your savings plan. BBVA Bank will match 1% of your total transfer amount.
To open this savings account, you will need an opening deposit of $25. This account, however, earns low interest.
There is also a quarterly fee of $15, but you can waive it by taking any of these measures:
- Maintain a minimum daily balance of at least $500
- Set up automatic, recurring monthly transfers of at least $25 from another BBVA checking account
You will need yet again $25 to open this account, but there is no quarterly fee required.
Compare Savings Accounts
With the American Express® High Yield Savings Account:
• Earn 0.60% APY as of 4/28/22 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• 24/7 Account Access
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 0.55% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB222 by 06/15/2022
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.60% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard. BBVA Bank has one money market that earns a pretty high APY.
BBVA Money Market:
- Open this account with just $25
- Has a monthly Service Charge of $15 but can be waived by:
- Maintaining a minimum daily overall balance for each month of $10,000 or more.
- Set up an automatic, recurring monthly transfer of $25 or more from a BBVA checking account to your BBVA Money Market account.
- Link to your BBVA Checking account for Overdraft Protection
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market
• FDIC Insured
• Check writing privileges
• No monthly maintenance fees
• No minimum balance requirements
• Debit card transactions
• Minimum Balance Required to Open the Account: $ 1000.00
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 0.55% APY balances $100,000 and over
• Earn 0.50% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 0.70% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
BBVA Bank offers long term CDs that earn pretty high interest rates.
You have to open a CD account online. This offer is only available online and to new customers.
You will need a minimum deposit of $500 to open any term offered. There are no monthly Service Charge, but keep in mind that you can be penalized if you choose to withdraw your CD term early. See our BBVA CD review.
Compare CD Accounts
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the CIT Bank No-Penalty 11-Month CD:
• Earn 0.30% APY on your funds with just a $1,000 minimum deposit.
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.20% APY up to 2.15% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
Reasons to Bank with BBVA Bank
- You can apply for a Free BBVA Checking account online without worrying about monthly Service Charge or minimum balance requirements.
- They have a Second Chance Checking account that you can apply for if you had bad banking history in the past. After a year of good account statements, you can upgrade it to a Free Checking account.
- You can earn a bonus with the Build My Savings account if you keep up with your savings plan. BBVA matches 1% of your transfer amount up to $25 for 6-months, or $50 for $12 months.
- You can use BBVA and Allpoint ATMS free of charge.
- The BBVA mobile app offers a bilingual feature, so you can change your language if you prefer and do your banking online at maximum comfort.
- When you apply for a checking account online, you will gain access to a team of professional bank advisers. They can help you set up your accounts while encouraging you to be financially aware.
- You can actually link other BBVA accounts to your checking account in order to prevent overdraft fees.
- Their CD accounts earn pretty competitive interest rates for a smaller than average amount of $500.
- BBVA lets you apply for an account whichever way seems fit. If you don’t like visiting physical branches, you can do all your banking online or via BBVA’s mobile app.
- Download the BBVA Wallet which is another app that lets you manage your credit and debit accounts. You can excessive banking should you need to such as make online bill payments or even file for a stolen card if you lose it.
Reasons Not to Bank with BBVA Bank
- If you prefer to do your banking in pereson, you have to live in one of the seven states that BBVA Bank is located in. These states are Arizona, California, Colorado, Florida, New Mexico and Texas.
- If you have overdrafts, each fee is $38, which is pretty pricey compared to other banks.
- Their checking accounts offer very low APY, so unless you are more interested in investing in a CD, you are better off looking elsewhere in terms of checking and savings.
BBVA Bank Routing Number
BBVA’s routing numbers vary depending on the state and region. For more information on how to find your routing number check out BBVA’s website.
Contact Customer Service
BBVA’s Bank’s customer service is 1 (800)-480-2265 and they operate 24/7.
How BBVA Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account.
- Bank of America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
Compare to Other Banks
If you are looking for varying checking and savings options when applying for a bank account, then perhaps consider banking with BBVA Bank.
Their CD accounts are what most people opt for since they earn high APY, and applying for every account online should seem like a piece of cake. BBVA have both a free and second chance opportunity checking as well so anyone can apply for an account with ease!
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.