BBVA

Overview / Commentary

www.bbvacompass.com

205-297-1986

15 20th Street South
Birmingham, AL 35233

BBVA 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.

On its personal retail banking side, BBVA offers checking, savings, money market, CD, and IRA accounts, as well as credit cards, mortgages, and auto loans on the personal lending side. Small business banking solutions include checking, savings, credit cards, and merchant services. DepositAccounts.com has featured BBVA in the past for different checking account promotions, as well as competitive money market and CD rates.

BBVA online banking is free and provides a web-based banking platform on which customers can manage their accounts. Tasks like tracking of spending, 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 to access and perform banking tasks while on the go, including remote check deposit. Account holders can also use ATM banking for more simple, round-the-clock banking.

The U.S bank BBVA is a subsidiary of the Spanish bank holding company, Banco Bilbao Vizcaya Argentaria, S.A. (the BBVA Group). The U.S. bank BBVA was established in 1964 as the Central Bank and Trust Company. The name changed to Compass Bank in 1993. The brand name BBVA Compass took effect after the BBVA Group acquired Compass Bancshares in 2007. In 2019, the bank’s official name was changed to BBVA USA.

BBVA Promotional Rate On MM DROPPED To 2.40% APY & A $100 Bonus(2) Offer - 8/7/2019

The promo rate has now been reduced from 2.50% APY to 2.40% APY, but the $100.00 still stands. (See my previous post dated Jul 19, 2019 for notes about the gotchas with this offer) https://www.bbvausa.com/go/clearchoice-money-market-oof-special.html $100 bonus opportunity(2) We will deposit $100 into your new BBVA Money Market account if your account is opened by August 31st, and you have an account balance of $10,000+ on August 31st and on November 30th. $10,000 account balance must be new funds not currently on deposit with BBVA. Avoid monthly Service Charge You can avoid the $15 monthly Service Charge by maintaining an account balance of $10,000+ or with an automatic recurring $25 monthly transfer from a BBVA checking account Money Market account 2.40% APY and rates accurate as of 7/26/2019.

BBVA - 12-Month CD Special 2.70% APY - 7/20/2019

CD Special is limited to the following 42 state residents: Arkansas, Connecticut, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Virginia, Washington, Washington D.C., West Virginia, Wisconsin, Wyoming https://www.bbvausa.com/go/cd-oof-special.html

BBVA name change & Promotional Rate Increase On MM To 2.50 APY And A $100 Bonus Offer - 7/19/2019

Not sure if this has been posted before, I did not see it when I searched. There are some requirements to get the bonus but they are easy to meet if you intend to stick around for a year. (see below) Less than $10,000, 2.00 APY, $10,000 and over 2.50 APY BBVA Compass is now BBVA https://www.bbvausa.com/ Money Market account 2.50% APY and rates accurate as of 7/2/2019 > APY is variable and subject to change at any time. > Bonus will be paid within 90 days of meeting the bonus requirements. NOTE a few gotchas that I found. If they lower the variable rate and you try to close the account: >>>We reserve the right to deduct the bonus amount if the account is closed within 12 months of opening. If you try to lower the balance to keep the account alive for 12-months to keep the bonus, you will still have to keep $10K on deposit to avoid the monthly service charge or also open a checking account and meet requirements. >>>You ca

View all posts from:

2019
2018
2017
Earlier

8/7 - BBVA Promotional Rate On MM DROPPED To 2.40% APY & A $100 Bonus(2) Offer
7/20 - BBVA - 12-Month CD Special 2.70% APY
7/19 - BBVA name change & Promotional Rate Increase On MM To 2.50 APY And A $100 Bonus Offer
4/23 - $100 For $10K Deposit For Bbvacompass MMA
3/6 - BBVA Compass Brings Back ClearChoice Money Market Promo Rate

2/23 - BBVA Increases Promotional Money Market Rate To 1.40%

8/9 - $200 Checking Bonus - BBVA Compass FL Branches
7/6 - BBVA Compass Offers Money Market Promotional Rates Nationwide
3/2 - Return Of The Promotional BBVA Compass ClearChoice Money Market Account

Reviews (76)

I Still Bank Here. I'm Not Rich, And I Really Enjoy It-Even When There Have Been Growing Pains

Posted by: 1xlogin | Jun 23, 2012

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.

Comment

Reward Checking Account Not Worth The Hassle

Posted by: Rupp | Mar 4, 2014

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.

Comment

Issues, Issues, Issues

Posted by: Sharkgirl | Jul 5, 2019

Four months ago, my daughter deposited a check from a company she did some work for. Today, FOUR months later, she's out of town and her debit card won't work. Finally get a customer service rep who tells her that they think the check deposited FOUR months ago was fake. Not only did they take the money back out of her account, they closed the account and didn't notify her. They took every penny in her account without notice!!! How is it her fault the company was fraudulent or not?!!! There had to be a better way to handle this situation! Bunch of thieves!!!

Comment

Worst Bank Ever

Posted by: Just4bbva | Dec 2, 2019

Not only are their policies and fees ridiculous but their customer service reps are very sneaky and untruthful. What customer service reps have told me has been false, misleading and differs from what their policies say online. I have tried multiple times to close my checking and savings account and they simply will not do it. I no longer live in a state with BBVA branches but at this point I am tempted to fly to my original branch just to get this resolved. Or will be reporting to BBB. Likely will do both at this point they’ve been so misleading.

Comment

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Health

A+

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	19048
Year Established	1964
Employees	9972
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.12%
Return on Equity - YTD	0.87%
Annual Interest Income	$3.52B

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$92.66B$90.06B
Loans	Q4 2019vs Q4 2018	$63.14B$64.37B
Deposits	Q4 2019vs Q4 2018	$75.31B$72.51B
Equity Capital	Q4 2019vs Q4 2018	$12.43B$12.54B
Loan Loss Allowance	Q4 2019vs Q4 2018	$921.0MM$885.2MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$656.2MM$787.6MM
Real Estate Owned	Q4 2019vs Q4 2018	$21.6MM$16.9MM

APY	MIN	MAX	ACCOUNT NAME
0.05%^†	-	-	Build My Savings
0.05%^†	-	-	BBVA Online Savings
0.05%^†	-	-	BBVA Savings

APY	MIN	MAX	ACCOUNT NAME
0.75%^*^†	$10k^*	-	BBVA Money Market Account
OTHER TIERS: 0.05% → Up to $10k
0.75%^*^†	$10k^*	-	BBVA Money Market Account - New Money Market Customer
OTHER TIERS: 0.05% → Up to $10k

APY	MIN	MAX	ACCOUNT NAME
0.05%^†	-	-	Premium Checking - Existing Customers
0.05%^*^†	$75k^*	-	BBVA Premium Checking for Business
OTHER TIERS: 0.01% → Up to $75k
0.05%^†	-	-	BBVA Premium Checking - Limited Availability
0.00%^†	-	-	BBVA Free Checking Account
0.00%^†	-	-	BBVA Online Checking

APY	MIN	MAX	ACCOUNT NAME
0.50%^†	$500	$250k	12 Month CD - Online
0.50%^†	$500	$250k	18 Month CD - Online
0.50%^†	$500	$250k	36 Month CD - Online
0.50%^†	$500	$250k	15 Month CD - Online
0.50%^†	$500	-	12 Month Online CD - Limited Availability

APY	MIN	MAX	ACCOUNT NAME
0.50%^†	$500	-	18 Month IRA - Online
0.50%^†	$500	-	36 Month IRA - Online
0.50%^†	$500	-	12 Month IRA - Online
0.50%^†	$500	$250k	15 Month IRA - Online

BBVA

Related Posts

I Still Bank Here. I'm Not Rich, And I Really Enjoy It-Even When There Have Been Growing Pains

Reward Checking Account Not Worth The Hassle

Issues, Issues, Issues

Worst Bank Ever

Data as of Q4 2019

Health Grade Components

BBVA Savings Account Rates

BBVA Money Market Rates

BBVA Checking Account Rates

BBVA CD Rates

BBVA IRA Rates

Availability

Birmingham Area