[Expired] [CA, CO, AZ, NM] BBVA $400 Checking Bonus + $50 Savings Bonus – Available Via Phone & In Branch (Last Day)

Deal has expired, view more bank account bonuses by clicking here

Offer at a glance

• Maximum bonus amount: $450
• Availability: Fine print does say only available in ‘California, Colorado, Arizona & New Mexico’
• Direct deposit required: Yes, $2,500+
• Additional requirements: Use promo code
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Normally $500 per account, but not sure how it works in branch or via phone
• Monthly fees: None
• Early account termination fee: One year, bonus forfeit
• Household limit: None
• Expiration date: February 10th, 2020

The Offer

• BBVA Compass is offering a checking bonus of $400 when you complete the following requirements:
  • Either call in (1844-BBVA-USA) or visit a branch and use the promo code WESTWB2020
  • Receive a direct deposit of at least $2,500 by April 30th, 2020 (if you receive a direct deposit of $500 – $2,499.99 you’ll receive a bonus of $50)
• You can also get a $50 savings bonus when you open a new qualifiyng savings account and have a balance of at least $500 on April 30th, 2020

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.
• 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 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.

ClearChoice Saving: has a $15 quarterly fee if the balance falls below $500. ClearConnect Saving has no monthly fees.

Early Account Termination Fee

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

Our Verdict

This is much better than the $200 + $50 bonus that is also available. Not sure how difficult it is to open via phone, but definitely think this is a bonus worth doing if you’re eligible (not eligible if you’ve had a BBVA account opened in the last 12 months). Not much time left, but I’ll be adding this to our best checking account bonus page.

Hat tip to reader Alan

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• A Beginners Guide To Bank Account Bonuses
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• 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?
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