Posted by William Charles on November 19, 2017
Bank Account Bonuses

Published on November 19th, 2017 | by William Charles

1,197

[Expired] BBVA Compass – $200 Checking Bonus – Available Nationwide & Online

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: $200
  • Availability: Nationwide
  • Direct deposit required: Yes, $300+
  • Additional requirements: None
  • Hard/soft pull: 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: None
  • Early account termination fee: Yes, account must be kept open for one year
  • Household limit: One
  • Expiration date: November 20th, 2017

The Offer

Direct link to 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 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.

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:



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1197 Comments on "[Expired] BBVA Compass – $200 Checking Bonus – Available Nationwide & Online"

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Josh
Josh

$5000 has been the credit card funding limit in the past, is it only $300 specific with this deal?

JS
JS

The Clear Connect just allowed me to fund an account with $5,000 via credit card.

JS
JS

Update: I just got an email that my CC funding didn’t go through.

MP
MP

Same here. No pending charges or fraud alerts from Chase on CFU. I was rather close to my credit limit with the funding, though. Also, the email is saying I should mail a check for the specified amount to them, I imagine this is more of a suggestion than a requirement. BBVA’s call centers are closed right now, else I’d be working on fixing this.

kirk
kirk

awww! care to share some more info? what card? what was the wording?

that was rather a quick ‘card funding declined’ email.

Justin
Justin

did you call your CC in advance to notify them of a large purchase?

Gerhardt
Gerhardt

I just funded Savings ($500 daily or $25 waiver) and Checking with $5,000 each with BOA Premium Rewards. Account was approved, but both accounts show $0 balance and BOA shows no purchase either. CA is $1.4K. Did you see any of the amounts go pending?

Matt
Matt

Same. No pending amounts on my credit card (Chase) and $0 in account. Very confusing.

marvin
marvin

Im in same boat. funded with Bofa Premium rewards, no pending on card, 0 balance on checking. hopefully it shows up. needed it to meet my spending!

Ryan
Ryan

Check your email if they were able to fund the account with the CC. I tried using Premium rewards with my CA lower than my funding and it got denied.

Gerhardt
Gerhardt

I haven’t gotten an email about funding specifically, but did receive “Congratulations! Your application has been approved and your new BBVA Compass ClearChoice Free Checking account is open. Here’s what you need to know now:
When will my deposit* be credited to my account? Credit or Debit card: 2-3 days”

Hoping for the best!

L T
L T

Which card did you use, please? Useful for datapoints on what works 🙂

JS
JS

I lowered my CA limit on my CFU and then funded the account.

The wording of the email was:
“You recently initiated a request to make an initial deposit to your new account(s) with $5,000.00 from Visa, Credit Card. Unfortunately, we were unable to fund your new account(s) using your source account.”

Ben O.
Ben O.

Nvm – should’ve kept reading…

Ben O.
Ben O.

So this wasn’t successful then?

kevin
kevin

Great bonus! It says maximum credit card funding is $5000 with Visa Debit Card, MasterCard Debit Card or Visa Credit Card

kirk
kirk

+ also states, BBVA Compass does not accept pre-paid or business cards for funding.
*funds generally available in your new account within 48 hrs.

welcome email shows this:
“When will my deposit* be credited to my account? Credit or Debit card: 2-3 days
Transfer from external account: 2-3 days
Mailing a check: Generally within 5 days of receiving your check”

PG
PG

Had serious trouble with the CC funding. Same screen just kept refreshing, but finally went to the message “we are reviewing your application” after trying with the 3rd cc. Tried different amounts and this time it was for $5k.

Duke I.
Duke I.

I have my mortgage with BBVA. I opened a checking account to get mortgage rate reduced. After a year, I requested to have the checking account closed in 2016. Today the account is still open with 13 cents despite my requesting it to be closed twice.

BBVA customer service center seems to be understaffed. Expect a long wait time if you ever need to call them. If you send a message online it take them at least 7 days to respond.

Ender
Ender

What CC did you guys used? From DPs it looks like chase code it as purchase. So I guess Citi and BOA?

Jace
Jace

Just opened the account online. I’m in TX and no HP as of yet. Funded with Penfed PowerCash card for $5k, called before to make sure it wasn’t flagged as fraud. Just received an email that the deposit was processed and accepted.

Dustin
Dustin

Did it post as a purchase?

kirk
kirk

nice! extra $100! positive DP for a 2% card.

Tom
Tom

I have opened about 12 or so checking/savings accounts since February. Even though it’s possible that not all of these banks use ChexSystems, I am a little worried about my ChexSystems report causing problems for this particular opportunity.

Quite interested to hear anyone’s experiences/problems with ChexSystems.

Thanks all…

Duke I
Duke I

I opened 12 checking accounts since early October. I requested a copy of my Chexsytems report and there’s nothing negative in it. I need to spend $3000 on my NFCU card to get the $250 bonus. So I’m going to try to open a 2nd checking account with BBVA. I probably won’t get the bonus since they never closed my other checking account that was opened in 2015 and was supposed to be closed in 2016.

Adam
Adam

Did NFCU Visa card work for credit purchase (not cash advance) for you?

Thanks.

Duke I
Duke I

I didn’t try it because because they can’t set the cash advance limit to $0.

adam d
adam d

Make the deposit more than what your cash advance limit is since cash advance limits are 25% of you c.l

Jenn
Jenn

I’ve opened about 30+ accounts YTD and was approved

Tom
Tom

Thanks Jenn!

Also — almost forgot — I have all 3 major credit reporting agency accounts frozen right now.

Anyone know which agency they use for the pull?

Andrew
Andrew

Definitely not nationwide. Try entering Wisconsin in the application and see what happens.

Bowser
Bowser

I am in WI & successfully opened 2 accounts (for myself & SO)

Lily
Lily

The household limit is 1, how did you open 2 accounts? Or maybe they will let you open but only one gets the bonus?

kirk
kirk

fwiw, 4th bullet from the fine print above.

becoo
becoo

Hmm..based on DJ’s comment in the AZ-specific promo, he/she got a hard pull: https://www.doctorofcredit.com/az-bbva-compass-200-branch-checking-bonus/#comment-502282

Can anyone else vouch for soft or hard pull? Thanks!

Gerhardt
Gerhardt

No hard pull for me in Texas.

becoo
becoo

Thanks Gerhardt.

Jenn
Jenn

Tried my Fifth Third Credit Card to fund and got declined. So I used a Visa Gift Card and that went through. Also called to confirm you don’t need to enter a promo code in the application

seespotjump
seespotjump

Did your funds show up?

Jeff
Jeff

Which Visa GC? I am looking to unload a Target Visa Prepaid. Thanks

Jenn
Jenn

The Visa gift cards you get for referrals

kirk
kirk

thanks for the confirmation about the promo code.

olympia
olympia

Anyone try a MC CC? Looking at double cash….

Kimillionaire
Kimillionaire

Here’s a full list of what cards folks have used to fund BBVA accounts and whether they coded as a purchase or cash advance: https://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/#BBVA_Compass

doug
doug

i tried with my DC and it specifically says “does not accept mastercard”. ended up funding 5k with my CSP

olympia
olympia

Are you concerned about the DPs that Chase codes as CA?

Vince
Vince

You can leave the promocode part empty then?

Jon
Jon

Funded both Checking and Savings with $5k each on CFU (cash advance set to $20 on each). Accounts are both open, however, no charges on my card yet.

kirk
kirk

+1 im curious as well. *for future msr.

Jill
Jill

“Funded both Checking and Savings with $5k each”
Did you do it in one application (total of $10,000 CC Funding) or in two separate applications (each time $5,000.00 CC Funding)?

Jon
Jon

I selected add a savings account during the checking application process. Then it asks you how much you want to charge for the opening deposit for each. Have to use use the same card for both. Doesn’t matter anyway. Got an email saying the charges were denied.

Denise
Denise

denied by who? your credit card or BBVA Compass?

Jon
Jon

Chase probably since my cash advance is set to $20.

becoo
becoo

Let me try this again..earlier comment with a link didn’t make it through. Comment 502282 from the earlier AZ-specific BBVA bonus reported “Just opened up a new account and got a hard pull on Experian” Can anyone else confirm soft or hard inquiry? Thanks!

L T
L T

Tried but got a message that said they could not verify my identity. Called in and they mentioned it would only be able to opened in branch and not over the phone. Haven’t done that many bank accounts lately, maybe ~8 this year and no reports frozen, so not sure why it didn’t work out.

Doodums
Doodums

i got the same message. i chose the Free checking and i’m in California. Player 2 got the same message. no history with BBVA Compass. really disappointed as this was a good way to meet my min spend.

this error comes up after hitting next (so before CC funding).

Timmy
Timmy

I’m wondering.. did you fund the account and if so was the money taken even after they were unsuccessful in opening?

olympia
olympia

I used CNB Crysal Infinite – there’s a current promo thatmight be targeted – 10,000 bonus points for $5k spend between 10/15/17 and 1/15/18.

kirk
kirk

neat! i funded mine using Blispay visa card. if everything goes as planned, i have 6 mos to float the 5k. that way i don’t have to ach the 5k from bbva right away. on top of that, i’ll get $100 cashback (5k*2%)! 😀

kirk
kirk

update: just got this email half hour ago.

“You recently initiated a request to make an initial deposit to your new account(s) with $5,000.00 from Visa, Credit Card. Unfortunately, we were unable to fund your new account(s) using your source account.
Action Required

In order to fund your new account, please send a check for $5,000.00…”

smh

denise
denise

Which credit card did you use?

What action does the e-mail say you need to take now?

any info would help!

kirk
kirk

please send a check for 5k is the action they want! lolz. yah sure. i’ll send that.

blispay visa card is what i used.

olympia
olympia

That’s great. I don’t know that card. I’ll have to look it up. Wish I could have used MC. Thinking of playing around with arbitrage.

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