BBVA Compass $200 In Branch Checking Bonus [Houston, TX only]

Offer at a glance

• Maximum bonus amount: $200
• Availability: Houston, TX branches only
• Direct deposit required: Yes, $300+
• Additional requirements: None
• Hard/soft pull: Mixed reports
• ChexSystems: Unknown
• Credit card funding: $300, no AmEx allowed
• Monthly fees: $4, waivable
• Early account termination fee: $25 if closed within 180 days
• Household limit: One
• Expiration date: May 30th, 2017

The Offer

Direct link to offer

• BBVA Compass is offering a bonus of $200 when you open a new checking account at any Houston, TX branch and receive a qualifying direct deposit of at least $300.

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.
• There is a maximum of one (1) bonus per household.
• Promotion is not available for accounts opened online.
• The $200 cash bonus will be deposited into the new checking account within 60 days of meeting the bonus requirements described above. The account must be open with a positive balance at the time the bonus is deposited.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

If you closed your account within 180 days, you will be charged a fee of $25.  There is also a monthly charge of $4 which is avoidable if you do any one the following:

• Receive at least one direct deposit of $300 or more from unrelated third parties
• Receive cumulative Direct Deposit transactions totaling $600 or more from unrelated third parties
• Maintain an average daily balance of $1,500 or more

Our Verdict

Because of the mixed reports of a hard/soft pull I’d recommend giving this one a miss. They used to allow more credit card funding but that has been reduced to only $300 and probably not possible anyway due to only allowing in branch opening for this bonus.

Big thanks to icemule1 on /r/churning 

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications