[Expired] BBVA $400 Checking Bonus – Available Online

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $400
• vailability: Nationwide (apart from a few states. Might only be in areas with a physical branch)
• Direct deposit required: Yes, $2,500+
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: No
• Credit card funding: $500 Visa only and personal cards only
• Monthly fees: $19, avoidable
• Early account termination fee: One year, bonus forfeit
• Household limit: None
• Expiration date: September 15th, 2020

The Offer

Direct link to offer

• BBVA is offering a bonus of $400 when you open a new Premium Checking account with the promo code PREM400 and and receive a qualifying direct deposit of at least $2,500 by November 15th

The Fine Print

• How to qualify for the $400 Bonus: 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.
• A qualifying direct deposit is a recurring paycheck, pension or government benefits (such as Social Security) from your employer or the government.
• The following deposits are not qualifying direct deposits: interest payments or transfers from your investment accounts; payments received from payment apps such as PayPal, Venmo and other similar payment service providers; tax refunds or other one time payments from the government.
• 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

$19 monthly Service Charge is waived with qualifying $4,000 monthly direct deposits 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

There is currently a $200 checking & $50 savings bonus. This is a an extra $200 on the checking bonus, but it’s more difficult to keep the account fee free. Keep in mind you need to keep the account open for a full year otherwise the bonus is forfeit. Easiest way to keep fee free is probably keeping the $4,000 in the account. Works out to be 5% APY return on the money so definitely worth considering. I’ll add this to the best checking bonuses.

Hat tip to reader newbie

Useful posts regarding bank bonuses:

• 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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