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Offer at a glance
- Maximum bonus amount: $200 checking + $50 savings
- Availability: Nationwide (excluded Hawaii)
- Direct deposit required: Yes, $500+
- Additional requirements: Open savings and maintain $100+ balance until 01/23/2019
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: $500 Visa only and personal cards only (you can also fund savings account for another $500)
- Monthly fees: None
- Early account termination fee: One year, bonus forfeit
- Household limit: Limit of one
- Expiration date: November 20th, 2018
- BBVA Compass is offering $200 when you open a new qualifying checking account and receive a qualifying direct deposit of at least $500 within the first 60 days of account opening
- You can also get a further $50 by opening a savings bonus by opening a new savings account with a minimum balance of $100. This balance must be maintained through January 23rd, 2019. Keep in mind you can only do this savings bonus if you do the checking bonus (savings account must be opened within 60 days of checking)
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 12 months or closed due to negative balance to be eligible for the bonus.
- Eligible accounts include BBVA Compass ClearConnect Checking, BBVA Compass ClearChoice Interest Checking, BBVA Compass ClearChoice Free Checking and Easy Checking
- Within sixty (60) days of account opening, at least one electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government in the amount of at least $500 must post to the new checking account
- The $200 cash bonus will be deposited into the new checking account within 90 days of meeting the bonus requirements described above. Account must be open and in good standing with a balance greater than or equal to $0.00 at the time of payment in order to receive the new account bonus.
- You must be a new BBVA Compass consumer savings customer who has not had a BBVA Compass consumer savings account open within the last 12 months or closed due to negative balance to be eligible for the bonus
- Eligible savings accounts are BBVA Compass ClearChoice Savings, Build My Savings, ClearConnect Savings and Young Savers
- Savings account must be opened within 60 days of checking account
- Account must be opened with a minimum balance of $100 in your new BBVA Compass Savings account. The minimum balance of $100 must be maintained through January 23, 2019 to qualify.
- The $50 cash bonus will be deposited into the new checking account within 90 days of meeting the bonus requirements described above. Account must be open and in good standing with a balance greater than or equal to $0.00 at the time of payment in order to receive the new account bonus.
- The BBVA Compass savings account holder must be an account holder on the new BBVA Compass consumer checking account
- New BBVA Compass customers may be eligible for $250 in cash bonuses from November 5, 2018 – November 20, 2018, by opening a new qualifying BBVA Compass consumer checking account, and one of the following: BBVA Compass consumer savings account.
- There is a maximum of one (1) $250 bonus per household. There is a maximum of one Checking Bonus and one Savings Bonus.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
If you live in AL, AZ, CA, CO, FL NM or TX then the best account to open is the BBVA Compass ClearChoice Free Checking as this has no monthly fees to worry about. Otherwise open the Clearconnect checking account which also has no monthly fees to worry about. There is a $3 fee on ClearConnect for paper statements, so make sure you opt for paperless statements.
ClearChoice Saving: has a $15 quarterly fee if the balance falls below $500. ClearConnect Saving has no monthly fees.
Early Account Termination Fee
Account needs to be kept open for one year or bonus is forfeit
The biggest bonus they have offered in the past has been $200. This is basically the same but with a $50 savings bonus. Nationwide bonuses like this don’t come around often, so I do think it’s worth doing. You might as well do the savings bonus as well because the requirements are easy to meet and that should allow you to fund with a credit card for another $500. Keep in mind people have reported issues with credit card funding in the past, so might not work smoothly. I will be adding it to our list of the best checking account sign up bonuses. BBVA will often send out targeted promotions after opening this account as well.
Big thanks to reader, Matt K & Syd who let us know. Learn how to find bonuses and contribute to the site here.
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- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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?
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