BBVA Compass

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.

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