Posted by William Charles on June 22, 2019
Bank Account Bonuses

Published on June 22nd, 2019 | by William Charles

22

[Targeted] BBVA Compass $200 Checking Bonus

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

The Offer

Direct link to 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:



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tidefan123
tidefan123

I guess I will need to actually look at all the junk mail BBVA sends me to see if I was targeted…

CraniusMaximus
CraniusMaximus

Doc, You wrote: “Some people are still waiting for the $200 bonus to come through from the last offer.” Actually, as far as I know, EVERYONE that tried for the last bonus offer is still waiting (including myself). I haven’t seen any reports of ANYONE receiving the $200 bonus or the added $50 savings bonus (and some have hit the 90 day mark). Worse, some people are reporting that when they’ve contacted BBVA, they get asked essentially “Bonus? What bonus are you talking about?” Maybe the offer was messed up and the bonus code didn’t attach? Anyway, I’m still waiting, and also waiting for ANYONE to report success. Fingers crossed.

Anne Marie
Anne Marie

I have my 90 days on the calendar for Feb 21. Will report by end of the month on that thread.

CraniusMaximus
CraniusMaximus

To followiup, my $200 checking bonus (finally) posted 2/14/19. Yay! Many others reporting they got their checking bonus on 2/14 also. Now we are waiting for the additional $50 savings bonus.

Deftek
Deftek

I received the $200 bonus recently as well. They hit me with a sneaky $5 non paperless statements fee that brought the savings below $100 for like a day. I was anticipating a fight but am encouraged to hear that someone else only got the $200 and is waiting for the $50. I sent them a DM.

By the way, they give you the option to opt out of paperless when you open the account but don’t mention paper statements on the savings… seems a bit underhanded to me.

Mimi
Mimi

I have the same experience when I contacted them about the two targeted offers they sent me back in Aug and Sept. I have complied with the terms and after 90 days have passed, no bonus. This month, I decided to send SM to ask for my rewards and got the same response from one of the reps asking what bonus I was referring to?! I’m glad I saved the email and postcard snail mail I got and told them I’d gladly send scan and/or fwd the emails to them. Not long after, I received my first $25, still waiting on the other $25 for using their mobile app for 3 consecutive months starting in Sept. I told them I’m still using their app beyond the three months they required to receive the reward.

Zamana
Zamana

Pretty disappointed with them so far. Haven’t seen the bonus and already lost some money with the savings account fee.

Z
Z

Same. I requested a refund of the fee for the paper statement that I inadvertently received for the savings account and they refused. I have never had any other bank not offer a grace period or refund a small fee like that. After having had no issues with 15+ bank account bonuses in the past 2 years I’m currently waiting on this, TIAA, and UsAlliance, and wondering if I’m going to get any of them.

LC
LC

only visa, minus chase and visa gift cards. very small limited list. poopy

86
86

Wait, this is also for (targeted) current accountholders who don’t currently have a DD to their account?

Shaun
Shaun

Sounds to me like it’s for BBVA customers that don’t already have a checking account. Like credit card holders or whatever account types they offer other than checking.

I’m a credit card holder and got this in the mail today.

86
86

That makes more sense than “You must be a BBVA Compass account‭holder … and not currently have any direct ‭deposits posting to your account in order to qualify for the $200 bonus.”

Ray
Ray

Doc,

The article keeps stating “Targeted” via email/flyer, yet the offer is found online here:

https://www.bbvausa.com/special/crm/67813.html

So is it “Targeted” or is it a “Public” Offer?

Edited – See below reply.

Ray
Ray

MEh – Just read the fine print in the link above”

“You must be a BBVA account‭holder who received this communication by email or mail from BBVA and not currently have any direct ‭deposits posting to your account in order to qualify for the $200 bonus.”

GimmeGimme
GimmeGimme

I wasn’t targeted on the last go round, but went for it anyway. I was already a BBVA credit card holder. When I signed up for the checking, it showed that the $200 promo was applied. After 93 days from the qualifying DD I hadn’t received the $200 bonus so I sent them a SM. Within a few days they called me back and said it would be deposited and available the next day. It was.

So the “targeted” is YMMV, I guess.

Master 4
Master 4

This post is starting to get confusing. All of those new and existing keywords are confusing to me. If you live in CA, there is a $250 promotion for new customers, until 7/1/2019. Here is the link: https://www.bbvausa.com/go/specialoffer/california.html

Gadget
calwatch
calwatch

Got it in the mail today (in California), although the $250 offer linked below is better (because of the added $50 bonus for savings).

GimmeGimme
GimmeGimme

I wasn’t targeted on the last go round, but went for it anyway. I was already a BBVA credit card holder. When I signed up for the checking, it showed that the $200 promo was applied. After 93 days from the qualifying DD I hadn’t received the $200 bonus so I sent them a SM. Within a few days they called me back and said it would be deposited and available the next day. It was.

So the “targeted” is YMMV, I guess.

dan
dan

can’t open online with the frozen reports ; called & was told that need to unfreeze for a soft pull

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