bank rates

$100 Checking Bonus At BBVA Compass

This deal is valid through the end of June.If you hurry, you can grab a $100 bonus after you open a new checking account with BBVA Compass.

But you must open the account by the end of June and then complete a few extra steps before you can get your cash.

You may consider this deal as part of your plan to open a 5-year CD at this Sunbelt bank, which pays 2.00% APY.

The checking account promotion is available to residents of states in the South and West where BBVA Compass has branches.

You must open either a Build-to-Order or CompassLink checking account online by June 30. It takes at least a $25 minimum deposit to open an account. Anyone who has had an open BBVA checking account within the last 90 days is ineligible.

Within 60 days of opening the account you also must either pay three bills online of at least $50 each or make a direct deposit of at least $300.

Once you open a checking account, you need to keep it open for at least six months, or you’ll forfeit the bonus.

While you can receive the bonus for either a Build-to-Order or CompassLink checking account, the Build-to-Order account is the best bet for most people.

The account includes a $10.95 monthly fee, but you can get that waived by having a direct deposit of at least $300 a month or by maintaining an average daily balance of $1,500.

This account does not earn interest.

The CompassLink account has more onerous requirements.

There’s a $20 monthly fee unless you have at least a $5,000 average daily balance in your combined checking and money market accounts or at least $7,500 in loans with BBVA Compass.

While the checking account pays interest, that rate is a measly 0.01% APY.

BBVA Compass, based in Birmingham, Ala., has more than 750 branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.

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Comments (2)
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2 Existing Comments
  1. Nashir said:
    on June 20th at 11:49 pm

    How much bonus I get in first six month. I think it will high or less.

  2. Kathy at Bankaholic said:
    on July 16th at 08:02 am

    BBVA’s bonus checking offer has been extended until July 31, 2012.