This offer has expired and is no longer available. Click here for the best current checking bonuses.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Colorado & California only
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Mixed reports but all recent DP show soft pull
- ChexSystems: Unknown
- Credit card funding: $300, no AmEx allowed (no credit card funding in branch)
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: One
- Expiration date: July 31st, 2017
The Offer
Direct link to offer: California | Colorado
- BBVA Compass is offering a $250 sign up bonus when you open a new small business checking account in branch at any California or Colorado branch and complete the following requirements:
- Make five (5) customer initiated monetary transactions (excludes account transfers, ACH Credits, and merchant services credits) of at least $25 each in the first thirty (30) days after account opening
The Fine Print
- Open a new BBVA Compass ClearConnect for Business Checking, BBVA Compass ClearChoice for Business Checking, or BBVA Compass ClearChoice Premium for Business Checking account between 7/17/17 to 7/31/17
- The $250 cash bonus will be deposited into the new checking account within 30 days of meeting the bonus requirements described above.
- The account must be open with a positive balance at the time the bonus is deposited.
- Checking accounts are subject to approval which may include credit approval. BBVA Compass employees and household members are not eligible.
- There is a maximum of one (1) bonus per household.
- Promotion is not available for accounts opened online.
- Offer subject to change at any time without notice.
- 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
BBVA Compass ClearConnect is the easiest account to keep fee free as it has no monthly fees to worry about. Unsure if there is any early account termination fee, you do need to keep the account open for 12 months to avoid this on the personal account so it might be similar with this bonus.
Our Verdict
There is also a $200 bonus for the personal account currently as well. Most recent DP show this as a soft pull, if that’s the case it’s definitely worth making it to a branch and getting a total of $450 if you’re eligible for both offers. Not much time left on either bonus unfortunately. Will add to best checking bonus list when we get more soft pull data points.
Hat tip to Ted E
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
Data point:
7/31 opened account
8/21 made 5 consecutive ATM withdrawals of $40 each
8/28 $250 bonus posted
That was incredibly fast to post, as was their personal checking bonus (the same 1 week turnaround).
I don’t have any actual business. Can I still open this account as a sole prop and get the bonus?
yes, I just did it today
Interesting. My banker today said I needed to have a registered business in order to open this account.
My Banker would not let me apply unless I had papers to submit that I had an actual business. Sole proprietorship with just will not work. Also told me promo ends July 31.
I had the same response. Business must be registered.
Not according to the banker I spoke with today.
Thanks. I went to the bank earlier today and was told the same 😀.
any word on if for either, we can start over the phone it time for deadline today and finish in branch after deadline?
I went in to the Campbell branch last week for the $200 personal checking account bonus. Had to fund with $25 cash, no CC funding at all in branch. Will be trying to open this one as well. AMA.
does any know what qualifies as ” Make five (5) customer initiated monetary transactions”
thanks
I was able to open an account. There is a branch in the SF Bay Area in Burlingame. I was not able to do credit card funding. They allowed me to open the account over the phone, but did not allow me to fund the account then. They needed me to finish opening the account in the branch and it took about 20 to 30 minutes because the VP there was unfamiliar with their new computer system and also spent some time selling me on their credit card.
I checked the offer at home. There are no branches from SF Bay Area (anything west of the Diablo range) shown as participating. VPN’d in to my work PC, and there they are.
Same happened with the personal offer a few days ago. Why are you doing this, BBVA.
What would count as the five customer initiated monetary transactions?
I’m curious to know as well.
I think just 5 atm withdrawals
(from “allbusiness.com”):
“banking transaction from a self-service banking terminal, for example, an automated teller machine, or from a telephone in the case of telephone bill payment. Customer-initiated entries substitute customer labor for bank labor, and in theory are less costly to process as transaction volume increases.”