Deal has expired and is no longer available. Click here to view the best current bank account bonuses.
Originally posted on November 6th, 2017. Reposting on November 19th, 2017 as the deal expires on the 20th.
Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â Nationwide
- Direct deposit required:Â Yes, $300+
- Additional requirements:Â None
- Hard/soft pull:Â All recent DP say soft
- ChexSystems: Unknown
- Credit card funding: $5,000, no AmEx or Mastercard allowed (no credit card funding in branch). Only personal cards are allowed. Looks like you can also fund savings account for another $5,000.
- Monthly fees:Â None
- Early account termination fee:Â Yes, account must be kept open for one year
- Household limit: One
- Expiration date: November 20th, 2017
The Offer
- BBVA Compass is offering a bonus of $200 when you open a new checking account and complete the following requirements :
- Receive a direct deposit of at least $300 within 60 days of account opening
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, Clearconnect Checking, and Easy Checking.
- Eligible accounts for residents of AL, AZ, CA, CO, FL, NM, TX include BBVA Compass ClearChoice Free Checking, BBVA Compass ClearChoice Interest Checking, ClearConnect Checking, and Easy Checking.
- Only BBVA Compass ClearChoice Interest Checking and ClearConnect Checking are eligible accounts for residents of all other states.
- Offer is valid for accounts opened in branch, online, or by phone
- 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 $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 live in AL, AZ, CA, CO, FL NM or TX then the best account to open is the BBVAÂ 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.
Early Account Termination Fee
Account needs to be kept open for 12 months otherwise they reserve the right to deduct the bonus.
Our Verdict
Bonus definitely worth doing, they have had lots of $200 bonuses recently but they have required going in branch in specific states. This is the first one that can be done nationwide and is also available online. Because of that I will be adding it to our list of the best checking account sign up bonuses. It’s always nice to have a credit card funding available as well, but people have reported a lot of issues with this in the past. As always share your experiences in the comments below.
Big thanks to readers Maximillian W & Elena who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- 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?
- 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
- Bank Bonus Posting Times
