In the past few years, BBVA Compass has offered competitive rates on Featured CDs, albeit for a limited time. The latest is a 13-month Featured CD with varying APYs, depending if opened online (1.35%), or in-branch (1.15% in some branches; 1.35% in others).
A minimum deposit of $500 opens the 13-month Featured CD, with a maximum deposit of $250K for CDs opened online.
The different rates are determined by state and whether the CD is opened online or in-branch. To determine which rates apply to your particular state, go to the Featured CDs page and click on,
Your banking region is currently set as _____. If not correct, please select your banking region.
A pop-up menu will appear allowing you to choose not only the appropriate state, but also the city.
As stated on BBVA Compass' CD Terms and Conditions, the Early Withdrawal Penalty reads as follows:
The early withdrawal penalty for time deposits with a term greater than 365 days is equal to twenty five dollars ($25.00) plus three percent (3%) of the amount withdrawn.
Thank you to DA readers, Tee and Cglynn, for their Forum posts on this CD.
ClearChoice Money Market
In July 2014, I wrote about BBVA Compass’ promotional guarantee of 1.00% APY on balances up to $2.5 Million through 2015. While that promotion is long gone, BBVA Compass dramatically raised the rate on its ClearChoice Money Market in August 2015 by 105 basis points, followed by a much more modest 10 basis point increase in November 2015. Currently, the ClearChoice Money Market earns 1.20% APY on balances between $10K and $5 Million; balances over $5 Million earn 0.25% APY, while balances below $10K earn 0.05% APY.
|1.00*%||$10k||$5m||BBVA Compass||ClearChoice Money Market Account|
|OTHER TIERS: 0.05% → Up to $10k | 0.25% → $5mm+|
There are potential fees associated with this account, which, in some cases, can be avoided:
- Monthly Service Charge $15, which will be waived if,
- Early Account Closing fee of $25, if account closed within 180 days of opening.
- Dormant Fee of $5 per month.
A minimum daily balance of $10K or more is maintained in the ClearChoice MMA, OR
An automatic, recurring monthly transfer of $25 or more from a BBVA Compass checking account to the ClearChoice MMA is in effect at the time of the service charge.
The ClearChoice MMA is only available in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
Headquartered in Birmingham, Alabama, BBVA Compass’ market area includes Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
The 13-month CD can be opened online or in-branch. The rate on the 13-month CD may vary, depending if it is opened online (1.35%) or in-branch (1.15% in some branches; 1.35% in others).
For a brick-and-mortar experience, you can open the CD at any of the 671 branches located in Alabama (88), Arizona (76), California (62), Colorado (38), Florida (45), New Mexico (20), and Texas (342).
The rate is 1.35% APY in the following locations, regardless if the CD is opened online or in-branch:
- All of Arizona and Colorado
- Alabama – Birmingham
- Florida – Gainesville/Ocala and Jacksonville
- Texas – Dallas/Ft. Worth and Houston
BBVA Compass has an overall health rating of "A+" at DepositAccounts.com, with Texas Ratio of 3.51% (excellent) based on September 30, 2015 data. In the past year, BBVA Compass has increased its total deposits by $4.22 Billion, an excellent annual growth rate of 6.98%. Please refer to our financial overview of BBVA Compass for more details.
BBVA Compass (FDIC Certificate # 19048) was originally established in 1964 as the Central Bank of Birmingham. In more than 50 years of continuous operation, BBVA Compass has acquired 28 banks in seven states, has changed its name five times, and ranks in the top 25 largest U.S. commercial banks, with assets in excess of $84 Billion.
How the CD Compares
When compared to the 134 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationally, BBVA Compass’ 13-Month Featured CD (Online) APY currently shares the top spot with Main Street Bank’s 12-month CD.
How the Money Market Compares
When compared to the 120 Money Market accounts tracked by DepositAccounts.com available nationwide, BBVA Compass’ ClearChoice Money Market currently ranks second.
The above rates are accurate as of 2/12/2016.
To search for nationwide MMA rates and MMA rates in your state, please refer to the Money Market rates section of DepositAccounts.com.