BBVA Compass has a long history of offering checking account bonuses. These bonuses have sometimes been cash and sometimes consumer electronics. In addition to opening a new checking account, the bonuses have typically required direct deposit and other activities. The more requirements, the more likely the customer will fail to qualify for the bonus. It also increases the chance that the bank will come up with an excuse to not paying out the bonus.
Since BBVA Compass continues to come out with new promotions, I decided it would be useful to have a poll for readers who have participated in past BBVA Compass promotions. It asks if the bank has paid the bonus as promised. If they did pay, did you have to call to get the bank to pay? If they didn’t pay, was it the bank’s fault for not paying (You think you should have been paid since you met all of the bonus requirements.)
The results of this poll should help readers decide if future promotions are worthwhile. If many people report not receiving the bonus, you might not want to waste your time on the promotion. It’s common for readers to leave comments when the banks didn’t pay, but it’s less likely for those who did receive the bonus to comment. Hopefully, the poll will encourage both sides to respond.
Even if you receive the bonus at BBVA Compass, you may not come out ahead in the long run. You have to be careful that you avoid monthly service fees. Nevertheless, if you’re careful, these bonuses can be good deals.
To view polls of other banks’ reputations with honoring bonuses, please refer to this list of bank promotion polls. These include banks like Chase and Bank of the West.