Posted by William Charles on November 24, 2019
Bank Account Bonuses

Published on November 24th, 2019 | by William Charles

15

[Expired] BBVA Compass $200 Checking Bonus

Deal has now ended, view more checking promos by clicking here

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Nationwide
  • Direct deposit required: Yes, $4,000+
  • Additional requirements: No
  • 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: $19, avoidable
  • Early account termination fee: Bonus forfeit, one year
  • Household limit: None
  • Expiration date: December 31st, 2019

The Offer

Direct link to offer

  • BBVA Compass is offering $200 when you open a new BBVA Premium Checking Account and complete the following requirements:
    • Receive one or more qualifying direct deposits totaling at least $4,000 within 60 days of opening your account

The Fine Print

  • You must be a new BBVA consumer checking customer who has not had a BBVA consumer checking account open within the last 12 months or closed due to negative balance to be eligible for the bonus.
  • Within sixty (60) days of account opening, must have electronic Direct Deposits of your paycheck, pension or government benefits (such as Social Security) from your employer or the government totaling at least $4,000 posted to the new checking account.
  • Qualifying electronic Direct Deposits do not include payments received into your account from payment apps such as PayPal, Venmo and other similar payment service providers.
  • This offer is not combinable with any other bonus offer.
  • To qualify you cannot have received a cash bonus for account opening in the past 12 months.
  • We reserve the right to deduct the bonus amount if the account is closed within 12 months of opening.
  • 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.
  • BBVA may report the value of the bonus to the IRS as required by law.
  • Any client whose tax status would require BBVA to impose tax withholding of any sort will not be eligible for this bonus.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $19 monthly fee. This is waivedwith qualifying $4,000 monthly direct deposit OR by having an average daily collected balance of $4,000+

Early Account Termination Fee

Account needs to be kept open for one year or bonus is forfeit

Our Verdict

They just offered a $200 checking + $50 savings bonus, that bonus was much better as it was easier to keep the account fee free and trigger the bonus. Because of that I wouldn’t recommend signing up for this offer and instead wait for one of the better offers BBVA offers to return. I won’t be adding this to our best checking bonus page.

Hat tip to reader Gadget

Useful posts regarding bank bonuses:



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Duke I.
Duke I.

Will I forfeit the bonus if I downgrade after receiving the bonus?

:)
:)

William Charles Just an update. They said I don’t qualify for the bonus cuz I have a money market account with them. For them, any type of previous relationship with the bank disqualify you to receive the bonus. I didn’t even set up a direct deposit after learning that. I spoke with 3 people over the phone and they all had the same message.

Duke I.
Duke I.

I have a mortgage with them and received the bonus twice since 2015.

:)
:)

Well they said a money market account and checking are both considered deposit accounts. The rules might be different for loans

bob
bob

i had a checking/savings combo (closed a little over 12mo ago), but i still have a CC with them.

Drew
Drew

It is surprising that the dd requirement is $4,000. Their most recent bonus, that expired on the 19th, only required one dd of $500. Wonder why they did such a huge change?

Duke I.
Duke I.

Drew that’s because for this offer they are pushing customers to open a premium checking account. The only way to keep the account fee free is by having a DD of $4000 or more each month. $200 isn’t worth it unless there are no other deals to complete right now.

Neil Degrasse
Neil Degrasse

I believe if you’ve had a Simple or Denizen account then you’re ineligible.

BBVA
BBVA

May want to add to post – must be U.S. citizen to apply online. Pop-up says non-citizens can apply under offer in branch though

Pascal
Pascal

They charge a $3 fee for outbound transfers and deposits and transfers seem to take a lot longer with them.

Ron
Ron

The fee is if initiated on bbva right? What about pull?

Gadget - Bank Bonus Geek 🕵️

There is no fee if you are doing the transfer from an external bank… unless you overdraft, or something like that.

Bobby Red
Bobby Red

I accidentally got myself a NSF fee of $32 and they were unwilling to give me a courtesy one-time reversal because my account was new. Damn, all other banks are good enough to do this for me even if I am a new customer.

Abe
Abe

I have a targeted offer for $200 to open a MM account in branch by 12/31/19 and have a balance of at least $50K on 12/31. $200 cash bonus will be deposited by 1/31/20. Account must be open and in good standing with a balance of $0.00 or more at the time of bonus payment in order to receive the bonus. Wording is confusing. Doesn’t seem $50K must remain in account between 12/31/19 and 1/31/20?

Derrick C
Derrick C

Two DP’s where BBVA say both my wife and I did not meet the bonus requirements, where it CLEARLY shows in our transaction history that we both met the requirements for both the checking and savings bonuses. Neither of us have ever had an account open with BBVA before and I don’t think we ever will again. This is ridiculous, to point blank tell us we don’t qualify when they have it right there in front of them that we do. We’ve escalated to the Client Care teams and will report back with what they say. a$$holes is all I have to say about them.

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