[Expired] BBVA Compass $250 In Branch Checking Bonus [California Only]

Deal has expired, view more bank account bonuses.

Update 6/17/19: Deal is back and this time valid in California only. Hat tip to JaneGoodallVS on /r/churning

Update 4/12/19: Deal is back and available in Arizona branches this time. Hat tip to reader Michael H

Offer at a glance

• Maximum bonus amount: $250
• Availability: Arizona branches only
• Direct deposit required: Yes, $500+
• Additional requirements: Maintain direct deposit for an additional three months
• 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). Probably won’t work in branch
• Monthly fees: None
• Early account termination fee: One year, bonus forfeit
• Household limit: Limit of one
• Expiration date: April 22nd, 2019 July 1st, 2019

The Offer

Direct link to offer

• BBVA Compass is offering a bonus of up to $250 when you open a new checking account and complete the following requirements:
  • Open a new eligible checking account and receive one direct deposit of at least $500 within 60 days of account opening to receive a $200 bonus
  • Receive an additional $50 bonus by continuing to receive that direct deposit for an additional three months

 

The Fine Print

• $200 bonus:
  • 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.
  • Eligible accounts include BBVA Compass ClearChoice Interest Checking, BBVA Compass ClearChoice Free Checking and Easy Checking.
  • This offer is not available for accounts opened online. Accounts must be opened in branch or through 1-800-COMPASS.
  • Within sixty (60) days of account opening the “Initial Direct Deposit Period”, at least 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 must post to the new checking account (“Qualifying Direct Deposit”).
  • The $200 cash bonus will be deposited into the new checking account within 90 days of meeting the bonus requirements described above. 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.
• $50 bonus:
  • If you earn the $200 Origination Checking Bonus, you could also earn an additional $50 by continuing to receive a Qualifying Direct Deposit of $500 or more for each of the next three (3) consecutive calendar months after the expiration of the Initial Direct Deposit Period. The Initial Direct Deposit period of sixty (60) days is described above.
  • The $50 cash bonus will be deposited into the new checking account within 90 days of meeting the additional bonus requirements described above. 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.
• Checking accounts are subject to approval which may include credit approval. $25 minimum opening deposit required.
• The maximum bonus amount is $250 per household: (1) one $200 Origination Bonus and (2) one $50 Additional Direct Deposit Bonus.
• BBVA Compass Employees are eligible for each bonus. Workplace Solutions / Compass for Your Cause clients are eligible for this offer.
• These bonuses are not combinable with other BBVA Compass cash bonus promotions. And you may not have received a bonus for a qualifying direct deposit in the past 12 months.
• 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.
• We reserve the right to deduct the bonus amount if the account is closed within 12 months of opening.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The best account to open is the BBVA Compass ClearChoice Free Checking as this has no monthly fees to worry about.

Early Account Termination Fee

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

Our Verdict

Worth doing if you live near a branch. There was a recent public online bonus for $200/$50 bonus.   I will be adding it to our list of the best checking account sign up bonuses. BBVA will often send out targeted promotions after opening this account as well.

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
• Bank Bonus Posting Times