Deal has epxired, view more bank account bonuses by clicking here.
Update 6/22/19: Deal is back and valid until July 26th, 2019. Keep in mind this is a targeted offer. Clearly states:
- You must be a BBVA Compass accountholder who received this communication by email or mail from BBVA Compass and not currently have any direct deposits posting to your account in order to qualify for the $200 bonus.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Nationwide but targeted
- Direct deposit required: Yes, $500+
- Additional requirements: None
- 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: March 29th, 2019
Contents
The Offer
- BBVA Compass is offering a bonus of $200 when you do the following:
- Be the primary account holder who received this offer.
- Open a new BBVA Compass ClearChoice Free Checking account by March 29, 2019.
- Receive a qualifying direct deposit of $500 or more within 60 days of opening your account.
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. F
- or accounts opened in a BBVA Compass branch or through 1-800-COMPASS the banker must enter promo code NEWCHK200 in order to be eligible for this bonus.
- For accounts opened online, you must originate your account through bbvacompass.com/cash where this promo code will be automatically entered.
- Eligible accounts include BBVA Compass ClearChoice Free Checking and Easy Checking.
- Within sixty (60) days of account opening, must have one (1) electronic Direct 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 post to the new checking account.
- There is a maximum of one (1) bonus per household.
- This offer is not combinable with any other bonus offer.
- You must be a BBVA Compass accountholder who received this communication by email or mail from BBVA Compass and not currently have any direct deposits posting to your account in order to qualify for the $200 bonus.
- To qualify you cannot have received a cash bonus for account opening in the past 12 months.
- The $200 cash bonus will be deposited into the new checking account within 90 days of meeting the bonus requirements described above.
- 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 Compass may report the value of the bonus to the IRS as required by law. Any client whose tax status would require BBVA Compass 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
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 you need to open the Easy Checking this has a $13.95 fee that is not avoidable.
Early Account Termination Fee
Account needs to be kept open for one year or bonus is forfeit
Our Verdict
Good deal if you’re targeted and live in a state with access to the ClearChoice free checking, otherwise there is a $13.95 fee that is not avoidable. Some people are still waiting for the $200 bonus to come through from the last $200/$50 public BBVA bonus. Despite that it’s sad this is a targeted offer otherwise it would be added to the best bank account bonuses. I definitely wouldn’t bother trying to do this bonus unless you’re actually targeted.
Hat tip to liquor_in_the_front
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
