[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

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View Comments (281)

  • Opened 8/5/20.
    Multiple actual true direct deposits from a 2nd job that added to well beyond the required $2,500 by the deadline
    Did not receive bonus.
    Customer service said multiple direct deposits totaling the amount does not qualify - I needed one big deposit of at least 2,500.
    I guess I should have read the offer more clearly, but not sure it's entirely on me. Still annoyed I missed out.
    Just a warning for others who don't catch that verbiage and interpret it exactly how they mean for it to be.

    • I am in the same boat. They mailer promotion wording is not clear since it said A qualifying direct deposit is a RECURRING paycheck. I assumed a total of 2500 and not a single either. The agent said I am out of luck. Transferred and kept $15000 each in two accounts for 7 months for nothing.
      BBVA sucks

      • Sorry to hear. There is no requirement to keep the money in the account though except 4K min balance to keep it fee free.

  • Just called and requested a downgrade to Free Checking. The agent said they'd call me back to complete the request and I requested the account be noted that she bonus should not be removed as the account is being downgraded and not closed.

    • I called to downgrade but the agent couldn’t finish the process though he thought he could. I had to do it in branch.

      • I received an email today I was getting a new checking account in the mail. Logged in and account details show interest rate went from 0.01% to 0.00%. Called and verified account was showing as free checking. Going to drain and leave $1. BBVA doesn't have the most competent CSRs so you may need to call once or twice... or like 7 times when my BBVA select card activation failed.

  • Just got off the phone with Customer Service and was told BBVA doesn't forgive even the first service fee you encounter. This is the first time I have encountered this with any bank

  • DP:
    9/10: account opened
    10/5: $2550 push from Capital One
    10/8: $2525 pus from Chase
    10/21: $2515 push from Capital One for good measure
    11/4: $400 bonus posted

  • pushed from my local credit union (Elevations), HSA (Lively), and Vanguard - not sure which worked
    11/4 - bonus posted

  • DP:
    7/31 - Premium Checking Account Opened in-branch with 4K deposit to avoid monthly fees. Also Opened Savings with
    $1K for $50 bonus.
    10/09 - $2500 Employer DD
    11/04 - $400 "2020 PREM CHK MA DIRECT DEP BONUS THANK YOU"

  • Data Point
    9/18 - opened the account
    9/22 - push $4K from Schwab Brokerage appeared as credit for Schwab Brokerage Moneylink
    10/05 - bonus posted