1627
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
James
James

Don’t think investment accounts work anymore because disclaimer says investment accounts don’t work

MHS
MHS

DP – Bonus-earning and account-closing data points:
– 2/10/2020 – Account opened
– 2/14/2020 – $510 transferred in from Paypal
– 5/20/2020 – Failed. No bonus received.
– 2/22/2021 – Requested that account be closed (via phone call).
– 2/23/2021 – Account closed

Dan
Dan

DP: Alliant “DD” did NOT trigger the bonus for me. All rules were followed.

H.P.
H.P.

Has anyone who received a BBVA bonus in 2020 got a 1099-INT for it yet? My wife and I each had $200 Checking bonus in Feb 2020 but haven’t got a 1099-INT as of 1/26/21. When I logged into my account and clicked on Annual Tax Statements, it came up as a broken link. My December 2020 account statement shows Interest Paid for 2020 as $0.00. Just wondering how BBVA will report the bonus.

H.P.
H.P.

Answering my own question, but the info might be useful to others. I logged into our BBVA accounts today 1/27/21 and the 1099-INT forms are available for both BBVA and Simple accounts. If you did both the Simple and BBVA deals with two players, and had individual and shared accounts, there will be A LOT of 1099-INT forms to download. We have 9 of them altogether.

Novacat05
Novacat05

I only found 4 forms, for my Simple account(s). Nothing for the straight up BBVA accounts.

(I also asked BBVA via SM to close out my accounts and they still appear, it seems like they didn’t close them out right. No monthly fee(s) for my account type/state but they still appear open with $0 balance)

Novacat05
Novacat05

So my statements did end with my close date, so it appears that my accounts are closed, weird they still show up 2 months later and I can still log in.

Both the $200 checking and $50 savings bonuses were deposited to the checking account, and both transaction details make no mention of interest, unlike other small interest amounts that posted in my savings account. Checking earned 0% interest so the statements don’t even have an entry for “Total Interest earned this year”. Savings statements do and show a couple bucks worth of interest, under $10 so that makes sense why I don’t see a 1099 for these BBVA accounts. They don’t consider the deposits posted in checking as interest since that account doesn’t earn interest. Interesting… I guess I won’t be getting 1099s for these BBVA accounts then.

H.P.
H.P.

Novacat05 My wife and I each got a 1099-INT form from BBVA, they’re online and also mailed (received 1/28/21). My Checking account had $200 bonus (listed on the form as GIFT) and $0.02 interest (listed as CLEARCONNECT SV). My wife’s account had $200 bonus for Checking and $50 bonus for Saving, both listed as GIFT, plus $0.17 interest listed as CLEARCONNECT SV.

Besides those, we got 7 forms for our 6 Simple accounts.

Novacat05
Novacat05

Got the forms in the mail today: one for my $250 BBVA checking/savings, one for Simple $500 bonus, one for Simple interest(couple hundred, back when rates on $50k for 3 months gave you something), and another for $0.01 interest from Simple…

Dunno why they were messed up online, but all set now.

Henry
Henry

Nov 17th – account opened, checking and savings
Dec 4th – 1000 DD from capital one 360 (immediately moved it from checking to savings for the $50 bonus)
Dec 11th – $200 checking bonus posted “Mega blitz thank you”
Jan 8th -$50 saving bonus posted
will leave account open for a year with $25 bucks in it just to be safe

Captain Greg
Captain Greg

My question is, what are they going to do with we just drain the account? If they close the account it does us a favor, and then how would they enforce an early termination fee with no money in the account?

Dom
Dom

$50 savings bonus hit today 🙂

Ryan
Ryan

DP:
11/23: Opened Account
12/1: $501 ACH from Sofi Money
12/17: $501 ACH from Chase
12/21: $200 checking bonus Posted

Captain Greg
Captain Greg

DoC says that we need to leave $500 in the savings account to avoid a maintenance fee, but I don’t think that’s actually true. Can anyone else verify this for the online savings account? Also, if so, is it better to leave $1 in each account or just zero them out and then close after a year?

Eric
Eric

He has “ClearChoice Saving: has a $15 quarterly fee if the balance falls below $500. ClearConnect Saving has no monthly fees.”

Do you have the ClearChoice or ClearConnect?

DP719
DP719

Captain Greg Online Savings do not have maintenance fees. I left 50 cents there to wait out the 12 months.

Captain Greg
Captain Greg

Yes, I have “online savings,” which is why I’m confused by the clearchoice savings or clearconnect savings stuff. But if you have been only holding 50 cents in that account and haven’t gotten a fee, that answers the question for me. Thanks!

Anne
Anne

You have to transfer in at least $25 per month to avoid a fee. I then transferred it back. I made it monthly automatially and forgot about it. I also can’t find the actual name of the type of account – it does not show online nor does it show on the statements …. I know this because I was charged a “Service Charge Fee” of $15 and a $3 paper statement and was incensed! Apparently I should have known! I was also charged $3 for doing 5 transfers from the savings account. I have always believed that a savings account is allowed by law six per month…..Their response:
We have received your message regarding the fees being charged to your account and wanting a refund.
” Upon reviewing your account ending in *4307, we have verified that your account is under the paperless statement option. However, your account was previously listed for paper statements. (unlikely) As a result, your account was being charged a standard fee.
In addition, we have verified that your account is a BBVA Savings account, in which there are four withdrawal/transactions per quarter (3 months) at no charge. A $3.00 Excess Transaction fee will be charged for each withdrawal transaction in excess of the four (!!!!!) per statement cycle.
For this account type, a quarterly service fee of $15.00 will be charged if the regulations for the account are not met. After careful review, we have verified the fees are valid and no refund will be provided.
To avoid this service fee, your account must adhere to one of the following regulations:
-Maintain an average daily collected balance of $500.00 or more; OR
-Have a monthly internal transfer of $25.00 or more from a BBVA checking account.”

This week I say to them goodbye.

Captain Greg
Captain Greg

My question is, what are they going to do with we just drain the account? If they close the account it does us a favor, and then how would they enforce an early termination fee with no money in the account?

jmoney
jmoney

BBVA offer received via email:

“When you log in to the app at least once a month during December, January and February, we’ll deposit $10 into your account within 90 days.”

Looks like a targeted offer. Email subject line was “Earn $10 for logging in to the BBVA Mobile Banking App”

Captain Greg
Captain Greg

Thanks for posting this! I got it too, but probably wouldn’t have noticed if you hadn’t mentioned it!

Captain Greg
Captain Greg

Whoa, and P2’s offer is $20!

Captain Greg
Captain Greg

Although this is of note in the fine print: “We reserve the right to debit the bonus amount if the account is closed within 12 months of receiving the bonus.” I’ll probably still drain the account at the 1 year mark (August 2021) and close it. Doubt they’d put up much of a fuss over $10 or $20.

Uzi
Uzi

Just received the $200 bonus (12/07). Did a push mid Nov from Cap 1 savings that coded as “–” and I never received an email confirming I met the deposit requirements. Transferred 1k now to the savings for the $50 bonus.