Get the reliability and resources of this large, well-recognized lender
Choosing a bank to entrust your money with is no easy task. There are plenty of things to consider, from competitive interest rates to on-the-go banking options.
You need a bank that not only understands your financial needs but is willing to provide you with flexible, long-term solutions. Explore your option with BBVA Compass.
BBVA ClearChoice Money Market account
An online money market for new customers looking to maximize their savings.
- Get a competitive rate, with tiered interest to grow your money faster
- Interest compounds and is credited monthly
- Easily withdraw money in branch and via BBVA Compass ATMs with no ATM fees
- Enjoy 24/7 online access with Online and Mobile Banking
What is BBVA Compass?
BBVA Compass is a banking subsidiary of Banco Bilbao Vizcaya Argentaria, a Spanish multinational banking group and the second largest bank in Spain.
BBVA Compass, with US headquarters in Birmingham, Alabama, is among the 50 largest banks in the US. It operates in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico, with over 650 bank branches.
What is BBVA Compass known for?
BBVA Compass offers both personal and small business banking products, including checking and savings accounts, credit cards, loans, investments and business merchant services.
BBVA has distinguished itself as a small business lender. From lines of credit to SBA loans, this provider has a variety of options available to small business owners looking to grow their business.
In recent news, BBVA Compass recently made Money magazine’s Best Banks in America 2015 to 2016 list as one of the best regional banks in the South and West US for its premium checking account.
What products does BBVA Compass offer?
Whether it’s checking, savings or CDs, find flexible accounts with free online banking.
- Checking account. Select from a variety of account perks, including mobile banking, free bill payment and no monthly service charges.
- Savings account. Get overdraft protection by connecting your checking account to a savings account.
- CDs. Deposit a minimum of $500 and pick the length of your term, from one to 48 months, with no associated maintenance fees.
- Credit cards. BBVA offers a selection of personal credit cards, including Visa rewards cards with access to the BBVA Wallet mobile app.
- Personal loans. With personal and auto loans, secure the funds you need to finance your next project or vehicle.
- Mortgages. Choose from 10- to 30-year fixed rate mortgages and home equity loan options with 3.40% to 3.72% APRs.
- Specialty programs. BBVA has a variety of specialty banking products to meet a variety of needs including programs for students, health care professionals, military personnel and those with poor credit.
Small business services
With merchant services, business loans and credit cards, BBVA works hard for your small business.
- Checking. Choose from a variety of add-ons with BBVA’s checking account, including unlimited debit and ATM transactions and up to one free monthly wire transfer.
- Savings. With competitive interest rates, earn more on money you save.
- Small Business Money Market Sweep Service. Determine a target balance for your checking or money market account, and anything over that balance is automatically moved to your savings account.
- Credit cards. Control cash flow and reap the benefits of Visa Business Rewards programs.
- Business loans. In addition to offering term loans and lines of credit, BBVA specializes in SBA loans to help you finance your business dreams.
- BBVA Compass Investment Solutions has the global resources and local expertise to guide your investments to its maximum potential.
- Full-service. If you want your money work hard, BBVA can help you with your financial goals, including help with retirement solutions, mutual funds, unit investment trusts and brokerage services.
- Self-directed. Manage your own investments with a self-directed brokerage account. Oversee your investments online, including equities, exchange-traded funds and mutual funds.
What the Internet has to say about BBVA Compass
BBVA Compass isn’t accredited by the Better Business Bureau (BBB), but it did receive an A+ rating. However, of the 40+ reviews listed on the site, all were negative, with customers complaining about poor customer service, long holds on deposited checks and overdraft fees.
On a brighter note, BBVA thinks it’s important to give back to its community. During the summer months of 2017, BBVA Compass kicked off its 100 Days of Brightness initiative. With random acts of kindness, BBVA employees were encouraged to hand out gift cards to individuals, charities and schools. When it was all said and done, BBVA donated over $100,000 to communities around the country.
BBVA Compass in the news
In 2012, BBVA Compass was one of more than 30 banks accused of manipulating customers’ debit transactions to generate higher overdraft fees, effectively putting more money into the bank’s coffers.
Even though it did not admit to liability, in July 2012 BBVA Compass was ordered to pay $11.5 million to settle the lawsuit. Several other banks involved in the case — including Bank of America — also settled, with little fallout.
BBVA Compass Bank isn’t without its drawbacks, but overall it has much to offer its customers. As one of the largest banks in the US, this bank has the stability and resources to help you manage both your personal and small business finances.