Bank savings rates remain historically low, but one way consumers can earn more for their money is through a checking account bonus. Banks offer promotions like a checking account bonus as an incentive to get you to sign up for a checking or savings accounts.
Lots of banks are currently offering a checking account bonus, but every bank account bonus isn’t a good deal. Some have high minimum balance requirements and monthly fees that could eat into your bonus.
This month (November 2018) one bank stands out in their checking account bonus offer. BBVA Compass is offering a $200 checking account bonus that only requires you to open a free checking account and make ONE direct payroll deposit of $500 within 60 days.
People with ChexSystems or EWS records can find it difficult to open a new bank account plus earn a checking account bonus. However, BBVA offers people in ChexSystems a second chance checking account called “Easy Checking” which is available for the $200 checking account bonus also.
Earn a $200 Checking Account Bonus
BBVA Compass’ ClearConnect checking account doesn’t charge monthly fees. BBVA’s free checking account is available online to residents in ALL States. Branch locations operate in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. BBVA is the 30th largest bank in the United States.
The $200 checking account bonus is available to new BBVA Compass customers only from November 5, 2018 to November 20, 2018.
Details to earn the Checking Account Bonus:
- New Customer: 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
- Returning Customer: If you have not been a BBVA Compass consumer checking customer in the last 12 months, you are eligible for the checking account bonus as long as you did not have an account closed due to a negative balance.
- Minimum to open new account: A $25.00 is required to open a new account but that does not include what is needed to earn the checking account bonus.
- Requirements to earn the checking account bonus: Within sixty (60) days of account opening, at least ONE electronic 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
- The $200 checking account 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 checking account bonus.
- Account fees: There are no monthly account fees.
Details for the BBVA ClearConnect Free Checking Account
- Apply with only $25 opening deposit.
- No monthly Service Charge.
- Complimentary Online Banking and Mobile Banking, Bill Pay and Online Statements.
- Free ATM withdrawal fees at any BBVA Compass or Allpoint® ATM.
- Compass Bank, Member FDIC.
- Once your account is open you can set-up mobile check deposits.
- Earn cash back rewards for everyday debit card purchases with Simple Cash Back.
- Award Winning Banking App. BBVA Compass Mobile Banking App recognized as 2017 Mobile Banking Leader for Ease of Use by Javelin Strategy & Research for its “intuitive, mobile-first experience for its clients.”
How do online customers handle banking transactions
For online customers, representatives are available to help you find the right financial tools for your online bank account. Online banks offer customers just about every service traditionally available through a local branch, including deposits, which is done online or through the mail, and online bill payment.
Earn an extra $50 Savings Bonus
If you earn the $200 checking account bonus, you could also earn an additional $50 by opening a BBVA Compass consumer savings account. You must first qualify for the checking account bonus in order to qualify for the Savings Bonus.
How to qualify for the $50 Savings Bonus:
- You must be a new BBVA Compass consumer savings customer who has not had a BBVA Compass consumer savings account open within the last 12 months or closed due to negative balance to be eligible for the bonus.
- Eligible savings accounts are BBVA Compass ClearChoice Savings, Build My Savings, ClearConnect Savings and Young Savers.
- Savings account must be opened within 60 days of checking account.
- Account must be opened with a minimum balance of $100 in your new BBVA Compass Savings account. The minimum balance of $100 must be maintained through January 23, 2019 to qualify.
- The $50 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.
- The BBVA Compass savings account holder must be an account holder on the new BBVA Compass consumer checking account.
BBVA Compass bank offers checking and savings accounts, credit cards, wealth management, personal, mortgage and auto loans along with other financial services for individuals and businesses. It’s a great place to build a lifetime banking relationship.
The above bank bonuses can and do change frequently. Be sure to confirm the terms and conditions of checking account bonus offers directly with the financial institution.