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BBVA Money Market account review

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A flexible savings option with a low opening deposit — but rates are lower than the competition.’s rating: 2.9 / 5.0


This money market account has a low minimum opening balance of $25. But the 0.20% standard APY and the 0.21% promotional APY are both lower than what you’ll get for other money market accounts. Plus, its $15 monthly fee can cut into your savings if you can’t maintain a balance above $10,000 or if you don’t have a BBVA checking account to make a $25 monthly transfer.

Up to 0.21%





Minimum deposit to open


APY0.21% on balances of $1,000,000+ for 3 months (0.20% after)
0.13% on balances of $10,000 to $999,999.99 for 3 months (0.10% after)
0.05% on balances of $0 to $10,000
To waive the feeMaintain a $10,000+ daily collected balance per quarter or set up a $25 automatic, recurring monthly transfer from a BBVA checking account
Minimum deposit to open$25
Minimum balance to earn interest$0
Interest compoundingMonthly
Monthly transaction limit6
Fee per transaction over the limit$10
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Expert review

Peter Carleton

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The BBVA Money Market account is best for those who have at least $10,000. Offering ATM access, mobile banking and interest, the BBVA Money Market account combines the advantages of checking and savings accounts. But the standard APY only goes up to 0.20% and the promotional rate tops out at 0.21%, which is still lower than the competition.

What are the benefits of the BBVA Money Market account?

The BBVA Money Market account offers standard FDIC insurance and more:

  • Earns interest. Although you may qualify for a promotional APY, you’ll find revert rates that are lower than the competition. You’ll earn 0.05% APY on balances up to $10,000, 0.10% APY on balances between $10,000 and $999,999.99 and 0.20% APY on balances of $1 million or more.
  • Promotional APYs. New customers who haven’t held a BBVA money market account in at least 30 days could earn up to an intro 0.21% interest rate for three months.
  • Low opening deposit. Open a BBVA Money Market account for just $25.
  • Convenient access. Enjoy surcharge-free access to your funds at BBVA ATMs and easily manage your money from the mobile app or online. Plus, you’ll be able to write checks and use bill pay.
  • Overdraft protection. Link this account to a BBVA checking account to get overdraft protection.

What should I look out for?

The BBVA Money Market account isn’t without its drawbacks. Here are some disadvantages to be aware of:

  • Online only. If you prefer working with a bank branch, tis account is not for you.
  • Transaction limit. Like other high-yield online savings accounts, you can make only six monthly transfers. But you’re charged $10 per transaction if you go over, and risk BBVA closing your account.
  • $15 monthly fee. Get around this service fee by either maintaining a daily balance of $10,000 or setting up monthly autopay of at least $25.

If you want a higher APY, you’ll want to keep looking. As always, compare your options when choosing a money market account.

What’s the difference between a money market and a high-interest savings account?

High-interest savings accounts traditionally don’t offer access to checking — they want you to save, not spend. Many savings accounts also come with little to no minimum balance requirements.

Money market accounts often allow withdrawals by check or autopay, and they usually boast higher interest rates than savings accounts. The tradeoff? You must maintain a higher daily account balance.

Compare with other money market accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
CIT Bank Savings Builder High Yield Savings Account

0.55% on $25,000+ or set up a direct deposit of $100+ each month
0.31% on $0 to $24,999
No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
Discover Money Market

0.50% on $100,000+
0.45% on $1 to $99,999
This money market account offers a competitive APY.
UFB Direct Premium Money Market Account

0.40% on $25,000+
0.10% on $0 to $24,999.99
$10 per month
(can be waived)
Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
BBVA Money Market

0.21% on $1,000,000+ for 3 months (0.20% after)
0.13% on $10,000 to $999,999.99 for 3 months (0.10% after)
0.05% on $0 to $10,000
$15 per month
(can be waived)
Earn a promotional APY for your first 3 months and access your money by ATM, check or bill pay.

Compare up to 4 providers

How do I apply for a BBVA Money Market account?

BBVA makes it easy to start saving by opening the Money Market account online:

1. Visit the BBVA website and click Savings.
2. Click on Money Market.
3. Scroll down and click Apply Now.
4. Complete the required fields with your name, address, contact information and Social Security number.
5. Review and confirm that you agree to the Electronic Communications Agreement. Then click Continue.
6. Next, choose a method to fund your account. Click Continue.
7. Select your deposit amount and enter your external bank account information, including your routing and account number. Click Continue.
8. Review and confirm your information, and submit your application.


To open this account, you’ll need to meet a few eligibility requirements:

  • Have a valid US address.
  • Have a valid Social Security number or tax ID number.
  • Be at least 18 years old.
  • Be a US citizen.
  • Deposit at least $25.

Required information

You’ll be asked for the following information during your application:

  • Your full name and contact information.
  • Your date of birth and Social Security number.
  • Your driver’s license, passport or state ID number.
  • The bank account details for your external funding account.

How do I deposit or withdraw money?

While this account is designed to help you save, it still offers easy access to your money:


  • Direct deposit
  • Mail a check
  • Deposit cash or checks at ATMs
  • Deposit cash or checks at branches
  • Transfers from other accounts
  • Incoming wire transfers


  • Bill pay
  • Checks
  • At an ATM or branch
  • Cash back from retailers
  • Transfers to other bank accounts
  • Outgoing wire transfers

How do I get in touch with BBVA customer service?

There are a few ways you can get in touch with customer service:

  • Send a secure message via online banking.
  • Speak with a representative by calling 800-273-1057.
  • Reach out on Twitter at @BBVA.

What other savings options does BBVA offer?

In addition to its money market account, BBVA has several other ways to save:

  • Online Savings. Start saving with as little as $25 and get same-day access to your money with direct deposits to this account.
  • Savings Account. A savings account that’s optimized for digital access, allowing you to manage your money anytime, anywhere.
  • CDs. Get competitive interest rates on terms up to 48 months with a minimum deposit of $500.
  • IRAs. BBVA’ traditional, Roth and rollover IRAs are a few of the many products that can help you save for retirement.

Common questions about BBVA

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