BBVA Compass is a large, Alabama-based bank that offers retail, small business, commercial, and wealth management banking products and services. The bank’s more than 10,000 employees serve its customers through branches located in states from the East to West coasts. The BBVA Compass name was formed when a bank holding company out of Spain, BBVA, acquired Compass Bancshares in 2007.
On its personal retail banking side, BBVA Compass offers checking, savings, Money Market, CD, and IRA accounts, as well as credit cards, mortgages, and auto loans on the personal lending side. Checking account options include an interest-bearing account, a second chance account, a basic account, and an NBA account. All but the NBA account come with a monthly service charge, and for the second chance account that charge cannot be waived. BBVA Compass’ basic savings account earns minimal interest and has a quarterly service charge unless a minimum daily balance requirement is met. The bank also features a customized savings account that will match transfers made into the account up to a certain percentage. Money Market accounts can be linked to a checking account to prevent overdrafts, and tiered interest rates provide incentives for account holders to increase their balances. Certificates of Deposit (CDs) are available in term lengths ranging from 7 days to 15 years and come with minimum initial deposit requirements. DepositAccounts.com has featured BBVA Compass in the past for different checking account bonuses, as well as competitive CD rates. Small business banking solutions include cash management and employee benefits services, in addition to specialty programs for attorney and health care organizations.
BBVA Compass online banking is free and provides a web-based banking platform on which customers can manage their accounts. Tasks like Quicken financial application integration, bill pay, account balance viewing, and funds transfer, can all be accomplished through the online system. Mobile banking is also available, as the bank has optimized its site to make it easy to use from mobile and tablet devices. Mobile apps make it even more convenient in easy to access and perform banking tasks while on the go, including remote deposit. Account holders can also use text and ATM banking for more simple, round-the-clock banking.
BBVA Compass is a subsidiary of BBVA Compass Bancshares, a bank holding company operating in the United States under the ownership of a foreign banking organization called Banco Bilbao Vizcaya Argentaria, which is headquartered in Spain. Compass Bank was established in 1964 as the Central Bank of Birmingham before changing its name in 1993. After it was acquired by BBVA, it merged the two names to create its current title. BBVA Compass Bank is headquartered in Birmingham, Alabama and serves its customers through numerous branches located throughout the United States.
Related Posts
3/6 - BBVA Compass Brings Back ClearChoice Money Market Promo Rate
7/6 - BBVA Compass Offers Money Market Promotional Rates Nationwide
3/2 - Return Of The Promotional BBVA Compass ClearChoice Money Market Account
2/12/16 - 13 Month CD 1.35%
1/28/16 - 13 Month CD Rate At Branch
8/12/15 - Equity Indexed Market Link CD
8/10/15 - BBVA Compass Offers Competitive 19-Month CD
8/15/14 - Money Market Promotion Guaranteeing 1% through 2015 at BBVA Compass in Certain States
8/8/14 - $150 Checking and Savings Promotion at BBVA Compass in Certain States
7/17/14 - Special 18-Month CD Rate at BBVA Compass
6/12/14 - BBVA Compass 1% Savings Account and Checking Bonuses
3/24/14 - Competitive CD Rate Specials at BBVA Compass
1/9/14 - Kindle Fire HD Checking Account Bonus at BBVA Compass
9/16/13 - Competitive 5-Year CD Rate at BBVA Compass in Several States
8/12/13 - Free Samsung Galaxy Tab 3 Checking Account Bonus at BBVA Compass
8/12/13 - History of BBVA Compass Bonus Payouts
6/10/13 - Build My Savings - Bonus Match
1/27/13 - Preferred Client Program
1/17/13 - Free Kindle Fire HD Checking Account Bonus at BBVA Compass
11/5/12 - Higher CD Rates with Checking at BBVA Compass in Several States
6/10/12 - BBVA Compass Business Money Market Account Special
6/4/12 - Competitive CD Rates at BBVA Compass in Several States
5/7/12 - New $100 Checking Account Bonus at BBVA Compass But Beware of Fees
2/7/12 - Competitive 5-Year CD Rate at BBVA Compass in Several States
9/5/11 - BBVA Compass Increases Fees and Cuts Features on its Checking Accounts
1/11/11 - New Monthly Service Charge For BBVA Compass Build-To-Order Checking Account
1/6/11 - BBVA Compass Adds Monthly Fees to Build-to-Order Checking
8/25/10 - Reminder: $150 Checking Account Bonus At BBVA Compass
8/3/10 - $150 Checking Account Bonus at BBVA Compass in AL, AZ, CA, CO, FL, NM & TX Only
7/20/10 - Business Checking & Savings Account $1,700 Bonus At BBVA Compass
5/8/10 - Build My Savings Account at BBVA Compass - Hot Deal or Marketing Gimmick?
1/8/10 - $150 Checking Account Bonus at BBVA Compass (available in AL, AZ, CO, FL, NM & TX)
1/7/10 - Compass Bank Is Offering $150 To Open A New Account
11/12/09 - BBVA Compass Checking Account Promotion - Free iPod touch (available in AL, AZ, CO, FL, NM & TX)
3/15/09 - Review of Equity-Index CDs at Compass - Other Options?
1/15/09 - $150 Checking Account Bonus at Compass Bank (available in AL, AZ, CO, FL, NM & TX)
3/26/08 - 4.00% Money Market Account Promotion at Compass Bank in Texas
2/4/08 - $50 Cash Bonus for Compass Bank Checking Account in Texas and Alabama
11/28/07 - $50 Gift Card Bonus for Compass Bank's Build-to-Order Checking Account
9/11/05 - Checking Account Deals
I Still Bank Here. I'm Not Rich, And I Really Enjoy It-Even When There Have Been Growing Pains
I felt compelled to stand up for my bank after stumbling across such negative people on here...So I asked my FRIENDLY local branch to educate me as if I were a new client-they know me there by first name and humored me for the request. (I was actually deciding where to consolidate all of my bank accounts). He did so and here's the answers & fliers I left with:
*65+ y/o Senior Checking reintroduced due to client's voicing their concerns. Free checks and paper statement with your social security direct deposit.
*Everyday Hero-FREE checking for active & retired military, doctors, nurses, EMT, medical professionals/techs, all lines of sworn police & firefighters, teachers.
Qualifiers to get a FREE CHECKING ACCOUNT:
*Direct deposit 1x a month that is $300+ and e-statements from my online banking. This is much nicer than my Chase account I closed out that wanted $500+ 1x a month. My weekly part time checks aren't that much.
*Student accounts for those under 25 are free--pretty cool but doesn't apply to me.
*1500 average daily balance in the checking.-someday I won't laught at that idea :)
Their savings rates were really good as well. Not much now-a-days but every little bit helps. They honestly paid more than my savings credit union and local major and minor banks. We pulled up 6-8 bank rates at his computer and none we found were better. That fits my needs just fine so I decided I'd stay there.
I pride myself on keeping current and here's my response to all the Debby Downers:
1. Free checking accounts didn't really make it mainstream until the 1990's when major players like Wachovia introduced and forced others to offer this as well and interest rates on a CDs were high enough to live off of. Times change, move on.
2. A bank's policies change with tighter Gov't regulation (ex. Durbin Amendment). Everyone wants their cake and eat it too. Regulate to prevent another economic decline yet many individual people are not ready to deal with personal ramifications of this. People get regulation and low yields. They want their 401k/retirement plans to grow magically but don't realise where the money comes from. If you want explosive growth & returns use the stock market-or Vegas :)
3. With BBVA Compass, previously Guaranty, I find it hard to imagine that the customer service in all the branches has changed that drastically. Perhaps the employees ARE doing as much for you as they can or know how. The bank name changed, not the people. Don't shoot the messengers if you have to dial a toll-free 1-800 number...They could easily make YOU pay for the phone call instead. lol!
4. Don't get me started on people who B. about overdraft fees. Don't spend money you don't have, idiots. Take any fee with humility and learn to manage your finances better. Yes, YOU violated the terms of the account, so you pay a fee. It's disclosed when you open an account ANYWHERE! Overdraft fees weren't invented last night nor headline news on CNN in the morning when you woke up. I find that the couple instances in my life I have overdrafted, I politely asked if someone was able to fix it and ya know what? They did. I doubt they would be so nice if I had come in yelling and screaming-I certainly wouldn't have.
5. Most banks and credit unions now have qualifiers for their accounts it seems. My friend banks at a credit union that charges $1 a month for a debit card.
6. Former Guaranty Bank failed. They didn't receive a bailout. I feel happy that someone took them over and they didn't go running to the gov't for TARP bailouts. A poorly run business suffered the just consequences. Ex. You won't learn why you shouldn't touch the hot stove until you feel it's burn.
This is turning into a rant. I hope it helps at least 1 person out there. Give BBVA a try, I think you'll like them. I certainly still do.
Reward Checking Account Not Worth The Hassle
I signed up for a checking account with BBVA after being provoked by their free Kindle Fire offer. 3 reasons why I will not be this naive again: BBVA is holding my money hostage with a fee-loaded gun ($4 per month if under $1500 in the account and $25 fee for closing the account inside of 6 months), you can't close the account over the phone, and branches are a sales trap. I did receive the Kindle Fire, but boy they are making me pay for it. The account pays no interest, so I am basically paying them for the Kindle by giving them free money. Their online banking platform is a bit arduous to navigate, as the layout and terminology can be confusing at times, and pages take longer to load. Customer Service Reps were helpful, so all in all I had a good experience.
Sudden Drop In Interest Rate
A tad disappointed. Opened Money Market in September 2015 when the rate was advertised at 1.20 per cent. When checking this a/c on line I noticed I was getting a rate of 1.09. Upon calling the rep I opened the a/c with she said this rate would last for a year (citing it was actually a better deal than the 1.20.)
This month, after being nine months into the 12 month period mentioned, the rate has dropped to ,20.
Fool me once -- fool me twice.
Website is also quirky and a bit awkward to navigate.
Terrible Experience
Everything started off great and I was especially surprised when I got a call from a "Mobile Experience Rep" who was checking on how things were going and offered a direct number to reach her at if I needed assistance with anything. But it quickly went south from there. I successfully linked two external accounts to make deposits. One deposit failed due to some unexplained technicality or glitch. Rather than attempting to understand the problem, BBVA referred my account to their fraud department who promptly locked me out of the account and later closed it which was absolutely ridiculous! It took the next 2 months and several phone calls and emails to get them to release my funds. I got the feeling this is a large bank with lots of red tape and no one that uses common sense. I have never had such a bad customer service experience!
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 19048 |
| Year Established | 1964 |
| Employees | 10045 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 6.03% |
| Annual Interest Income | $3.25B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $90.06B$86.50B |
| Loans | Q4 2018vs Q4 2017 | $64.37B$60.85B |
| Deposits | Q4 2018vs Q4 2017 | $72.51B$69.60B |
| Equity Capital | Q4 2018vs Q4 2017 | $12.54B$12.09B |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $885.2MM$842.8MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $787.6MM$686.7MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $16.9MM$17.3MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
$100 For $10K Deposit For Bbvacompass MMA
"Conditions to Earn the $100 Bonus: There is a maximum of one (1) bonus per household. You must be a new BBVA Compass consumer money market account customer who has not had a BBVA Compass money market account or received a money market account cash bonus in the past 12 months. Funds cannot currently be on deposit with BBVA Compass. Account must be open and in good standing with a balance of $0.00 or more at the time of bonus payment in order to receive the bonus. Bonus will be paid within 90 days of meeting the bonus requirements. BBVA Compass may report the value of the bonus to the IRS as required by law. Any client whose tax status would require BBVA Compass to impose tax withholding of any sort will not be eligible for this bonus. We reserve the right to deduct the bonus amount if the account is closed within 12 months of opening. Note: this offer is subject to change at any time.l"
Always verify rates and promotions with the bank or credit union. We are not BBVA Compass; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
BBVA Compass Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05%† | - | - | Build My Savings | |
| 0.05%† | - | - | ClearConnect Savings | |
| 0.05%† | - | - | BBVA Compass ClearChoice Savings |
BBVA Compass Money Market Rates
BBVA Compass Checking Account Rates
BBVA Compass CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.25%† | $500 | $250k | 36 Month CD - Online | |
| 2.20%† | $500 | $250k | 18 Month CD - Online | |
| 2.00%† | $500 | $250k | 15 Month CD - Online | |
| 1.90%† | $500 | $250k | 12 Month CD - Online |
BBVA Compass IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.25%† | $500 | - | 36 Month IRA - Online | |
| 2.20%† | $500 | - | 18 Month IRA - Online | |
| 2.00%† | $500 | $250k | 15 Month IRA - Online | |
| 1.90%† | $500 | - | 12 Month IRA - Online |
