Posted by William Charles on July 24, 2017
Bank Account Bonuses

Published on July 24th, 2017 | by William Charles

91

[Expired] BBVA Compass $200 In Branch Checking Bonus [California & Colorado Only]

This bonus has expired and is no longer available. You can click here to view the best checking bonuses.

Reposting as also available in Colorado.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: California & Colorado branches only, although it does say you can open by phone as well.
  • Direct deposit required: Yes, $300+
  • Additional requirements: None
  • Hard/soft pull: Mixed reports (seems recent DP are all soft, but YMMV)
  • ChexSystems: Unknown
  • Credit card funding: $300, no AmEx allowed (no credit card funding in branch)
  • Monthly fees: $4, waivable
  • Early account termination fee: Bonus forfeit, one year
  • Household limit: One
  • Expiration date: July 31st, 2017 August 4th, 2017

The Offer

Direct link to offer (California) or Direct link to offer (Colorado)

  • BBVA Compass is offering a bonus of $200 when you open a new checking account at any California branch and receive a qualifying direct deposit of at least $300 within 60 days of account opening. $25 opening deposit required and credit card funding isn’t allowed in branch.

The Fine Print

  • You must be a new BBVA Compass consumer checking customer who has not had a BBVA Compass consumer checking account open within the last 90 days or closed due to negative balance to be eligible for the bonus.
  • Eligible accounts include BBVA Compass ClearChoice Interest Checking, BBVA Compass ClearChoice Free Checking, and Easy Checking.
  • Within sixty (60) days of account opening, at least one electronic direct deposit from an unrelated 3rd party (e.g. your employer or a government agency) in the amount of at least $300 must post to the new checking account.
  • The account must be opened at one of the participating branches above or via 1-800-Compass, Option 2, with the account housed at a participating branch.
  • We reserve the right to deduct the bonus amount if the account is closed within 12 months of opening.
  • The $200 cash bonus will be deposited into the new checking account within 60 days of meeting the bonus requirements described above.
  • There is a maximum of one (1) bonus per household.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easiest account to keep fee free is the BBVA Compass ClearChoice Free Checking account as this has no monthly fee to worry about.

Early Account Termination Fee

Account needs to be kept open for 12 months otherwise they reserve the right to deduct the bonus.

Our Verdict

Shame there is mixed datapoints about it being a hard/soft pull as otherwise this is a good bonus. Yes you need to keep the account open for a year, but at least there are no monthly fees to worry about. Because of the reports of it being a hard pull I can’t add it to the best checking promos as if it were a hard pull you’d be better off going with a credit card cash sign up bonuses (remember you pay taxes on bank account bonuses but not on credit card bonuses).

Big thanks to reader, Dore D who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Jim
Jim

Wow short window on this one. You’ve got to get into a branch this coming week to take advantage.

DRT
DRT

Anyone know if the banking side of BBVA customer service is as awful as the credit side?

Robert Rampton
Robert Rampton

Yes just as horrible

sonia
sonia

anyone have datapoints for DD?

MSer
MSer

DD from “unrelated 3rd party” requirement seems to rule out the usual DDs from other bank accounts that most use. Considering how annoying BBVA is with their NBA card, I’ll pass on this.

T
T

Looks to have a similar option in colorado

https://www.bbvacompass.com/go/specialoffer/colorado.html

Mr. PTM

You, sir, are a prince. Good find.

Robert Rampton
Robert Rampton

Just a precaution for anyone considering signing up for this, BBVA has the worst customer service I have experienced from any bank. Whatever bonus I ever received was never worth the hassle I had to experience. When I close my credit card with a zero balance and haven’t used it for months, they reported my closure as a late payment to all the credit bureaus.

Harry
Harry

Did a previous bonus with BBVA and had no problems getting the bonus, opened on Jan 1, made a real direct deposit on Feb 1 and the bonus posted on April 1. I waited 6 months to close on July 1 and was able to do so by messaging them.

They also only did a soft pull, not a hard pull on me.

If I could, I’d definitely go for another bonus with them though not eligible for this one.

Jim
Jim

Are you a rep?

Harry
Harry

Funny but no, just thought I’d give a positive review since in my case, I had a good experience.

As always, YMMV

Jim
Jim

Thanks for sharing your experience.

May I ask what options were available for opening funding? Plan on proceeding over the phone, so imagine they’d have me mail in a check or take down ACH info? Don’t imagine CC funding as an option 🙂

Harry
Harry

I did it online and funded with $100 using Chase Checking during the application process. Don’t remember if it gave a credit card or mailing a check in option.

Dean
Dean

From T&C: “Promotion is not available for accounts opened online.” (And a rep confirmed.)

Lrdx
Lrdx

Apparently none of the SF Bay Area branches are participating…

DRT
DRT

That’s definitely not true. Plenty in the Bay Area.

J
J

worst case scenario you can open by phone right?

Lrdx
Lrdx

There are plenty of branches here, but none of them are listed on the landing page as participating branch.. The closest to the bay is Tracy, so I guess that leaves the phone option.

MontyFC
MontyFC

I see Burlingame, San Carlos, Redwood City, Fremont, Sunnyvale, Walnut Creek, Concord etc.

Lrdx
Lrdx

Interesting.

I opened the landing page from my work PC, and they show up. I opened from my home PC (remote desktop) and they don’t.

MrSeabass
MrSeabass

Went into Burlingame branch without an issue.

d
d

The only L.A. branch is up the road from Compton. Definitely safest to call.

D
D

please delete earlier

Chuck

I removed the email address from showing. Good now?

D
D

yes, thanks!

Brian
Brian

Hi DOC

Your direct link to the *Colorado* offer is not clickable.

Mujtabaq
Mujtabaq

I am in the Bay Area. Opened via phone and they did a Soft Pull, still have to visit a branch to sign documents.

Nicolas
Nicolas

did you fund it with a credit card? if so, how much they allowed?

Mujtabaq
Mujtabaq

No CC funding allowed in-branch. Minimum $25 cash to open account.

RV
RV

Doc, this needs to be in the offer or the fine print. My wife went in today, and she had to leave and hunt an ATM because she didn’t bring enough money.

Joshua Lapin
Joshua Lapin

Data point: I called 1-800-COMPASS and to my local branch in Colorado, and neither would open the account over the phone due to an in-person signature needed in – branch. Wasn’t able to get an exception whatsoever.

Mr. PTM

If you call in, they will only pre-populate an application and then require you to go in-branch to complete. I’ll be completing my app in-branch this Friday.

Also, YMMV, but after calling 1-800-COMPASS, selecting option 2, then option 1, I was disconnected four times (always after the 1st ring). Fifth time worked. ¯\_(ツ)_/¯

Jim
Jim

Called in, as well, told same as the folks above, that I’d still need sign paperwork in branch. Rather than do that, I just went to a branch to do the whole app.

They had dozens of flyers advertising this offer (as well as a complementary $25 savings bonus with opening a savings account, then setting up a transfer from checking into savings), so were well aware. Referred to it as the “See (Sea?) Blue” promotion.

Pretty straight forward experience, funded with a check, although found it odd their online account set-up was quite onerous. They’re pushing to go paperless, so the banker had to use an iPad and corporate app to show me and acknowledge all the disclosures, overdraft decline, signature card, etc. Similar to Chase. What was odd was the banker then asked if I had email/mobile access, which I did. I was then instructed to access and acknowledge the forms via email on my phone to proceed.

To set up online access, I was emailed a temporary password, which the banker had me access on my phone. Logged on using their iPad, set a new password, and verified my username/pass were working.

Finally, they gave me a 1 cent corporate BBVA check to activate/enable mobile deposits on the spot. Basically I was told the online set-up process, from the temporary password (which only lasts hours) to the mobile deposits, etc. is buggy/confusing, so they have customers do it at the branch to make sure everything works. The way it was explained to me, customers often had trouble on their own, so they highly recommend customers do it on-site and get walked through the process.

In short, what was a 15 minutes process took a good 40 minutes because of how involved it was with entering information from an iPad and me accessing my email several times to proceed.

Now to find a working ACH source for the DD!

MrSeabass
MrSeabass

Even worse for me. They were badgering me to open their crap credit card

Don
Don

This was my exact same experience today. Took about 30 minutes for me on my lunch break, during which time the branch was completely dead (not one customer). Also got the same flyer “to take back to your coworkers.”

I plan to just use employer DD given all of the hassle other folks here have mentioned. Will also report back as to whether opening the account shows up as a hard inquiry.

Jim
Jim

Follow-up from my account opening process above, just received the $200 bonus today, Aug 15.

Tried a shotgun approach with handful of ACH sources, so not sure which worked

Tyler
Tyler

Wondering which accounts did you use.
I followed the same approach and got the bonus today as well.
I have used Ally, Wells Fargo and Chase.

Dean
Dean

Waited on hold for an hour to learn that I would need to drive to the branch (at least 90 mins each way) to verify and fund the account – and no c/c accepted. One of the main draws was to be able to fund with a c/c because I need to reach spending thresholds for bonus activation quite soon. Just not sure this bank’s $200 bonus is worth the hassle.

Casey
Casey

I wonder if having a Simple account would disqualify me, since it was acquired by BBVA Compass in 2014.

Mujtabaq
Mujtabaq

Can confirm, it doesn’t 🙂

Don
Don

No, I can confirm it doesn’t as well. When you apply in branch, they’re going to be able to load your profile and because of it, probably ask you if you’ve had an account with them in the past. You can tell them you have a Simple account or you can just shrug your shoulders.

Banker will probably then tell you that BBVA has been acquiring a lot of small banks over the past few years and it’s common (mine did).

Alex
Alex

Opened account on 07/25 in Lynwood. No CC funding, only check or cash. No Hard Pull. Took 30 minutes fairly simple.

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