BBVA Review

In a Nutshell

BBVA is a hybrid physical, online and mobile bank. It offers online checking and savings accounts plus a range of other banking services like CDs, credit cards, and loans. BBVA primarily serves residents in 7 states: Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. Residents of the other 43 states have access to most account types (aside from certain savings accounts) but can’t access physical branches.

pros

  • Range of checking and savings accounts
  • Sleek, feature-rich mobile app
  • Benefits for students, military, and certain professions

cons

  • Most states get only partial access
  • High overdraft fees
  • Only existing customers can open zero-fee account

BBVA BBVA Visit Site

BBVA at a Glance

Fees: $0-$25 per month

Personal loans available: Yes

Credit card available: Yes

SMS/Mail alerts: Yes

24 hour customer service: No

Money transfers: Yes

Check scanning: Yes

APY: 0.05%

Minimum balance for APY: $10,000 (for high-interest account)

Advantages Over Regular Bank

BBVA offers most of the features you’ll find at a regular bank, plus added online features. By combining features from online banks and physical banks, it offers its customers the best of both worlds.

Here are some of the advantages BBVA offers over a regular bank:

  • Open new checking and savings accounts online or over the phone.
  • Transfer money, pay bills, and get statements online or with mobile app.
  • 24/7 alerts for when any unusual activity occurs with your account.

Cutting-Edge Banking Services

BBVA’s online banking platform is packed with features to help you manage all your accounts in one place. BBVA fuses together the best of physical banking and online banking, with a wide range of account types, personalized customer service, and plenty of bonuses and rewards.

Here are some of the highlights of BBVA’s checking accounts:

  • Free financial tool where you add accounts from other banks to track your overall spending and achieve financial goals.
  • Dedicated personal banker, reachable by text, email, or phone.
  • Zero-fee checking accounts for students and military personnel with access to certain other rewards.
  • Dedicated accounts for practicing physicians, oral surgeons, dentists, CPA-certified accountants, and attorneys, with easy access to lines of credit and mortgages.
  • Cash back with selected retail partners when purchasing with BBVA debit or credit card.
  • Secure international money transfers to 20 countries, including Mexico and most of Latin America.

Traditional Banking Services

Fortunately, BBVA hasn’t forgotten about the importance of traditional banking services. Online banking customers get complete access to all of BBVA’s brick-and-mortar banking services, including branches and ATMs.

All BBVA checking accounts include the following banking features:

  • Access to physical branches in 7 states: Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
  • Access to around 1,000 BBVA ATMs in 7 states and 55,000 Allpoint ATMs around the world. BBVA’s bilingual English and Spanish ATMS offer cash and check deposits, money transfers, cash withdrawals, and mini statements. Withdrawals from Allpoint ATMs are free when using a BBVA Debit Card issued in connection with a BBVA checking account.
  • Range of credit cards, including the ClearPoints credit card, with no annual fees, low introductory purchase APRs, and low introductory balance transfer APRs.
  • Visa debit card for checking account holders, complete with access to Apple Pay, Google Pay, and Samsung Pay so you can pay retailers from your phone.
  • ClearSpend Prepaid Visa Card, with no overdraft fees, no purchase transaction fees, and no monthly fee as long as more than $400 or more is loaded during each calendar month (otherwise a $4 monthly fee applies).
  • Range of loans including unsecured personal loans and secured auto loans, with competitive interest rates and quick access to funds. Rate discounts when using recurring auto-debit payments.
  • Mortgages and home equity loans, with competitive APRs. Certain account holders, such as military personnel, are eligible for discounts.
  • Investment accounts, from a choice of full-service brokerage or self-directed brokerage accounts.

Interest Rates and Fees

BBVA customers may choose from a wide range of checking and savings accounts. Existing BBVA customers can open a basic monthly checking account with no monthly fee with just a $25 deposit. For everyone else, there’s a basic checking account with a $13.95 monthly service charge.

In terms of interest accounts, BBVA offers one interest checking account, several savings accounts, and CDs. The following table gives an overview of some of BBVA’s interest accounts.

Account Type
Monthly Fee
APY
Interest Checking
$25 (or $0 if balance stays over $5,000
0.15% for every dollar up to $25,000, then $0.01% for additional funds
ClearChoice Savings & ClearConnect Savings
None (Up to 4 free withdrawals per statement cycle)
0.05% on all balances (with $25 minimum deposit)
ClearChoice Money Market
None (Up to 6 free withdrawals per statement cycle)
0.80% APY
Certificates of Deposit
None
0.70% APY for a 12-month CD and 0.40% APY for a 36-month CD

Customer Service

One of the advantages to using BBVA is the personal banker. No matter your balance, when you use online banking with BBVA you also get assigned a personal banker. You can contact your banker during business hours by text, email, or phone.

New customers can reach BBVA via the following channels:

Phone: (800-266-7277) in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. 866-5-DIGITAL (866-534-4482) in all other states.

HQ: BBVA Inc. 15 South 20th Street, Birmingham, Alabama 35233

Mobile Apps

BBVA offers a free, features-packed mobile app for iOS and Android users. This app offers many of the same features as BBVA’s online banking platform.

Here’s what you can do with the BBVA mobile banking app:

  • Transfer money to other bank accounts.
  • Set up recurring Bill Pay or make a 1-time payment.
  • Set up alerts for suspicious or unusual behavior connected to your account.
  • Check balances and view statements.
  • Deposit checks quickly and securely with check scanning.
  • Pay retailers using Apple Pay, Google Pay, and Samsung Pay.
  • Send money internationally to around 20 countries with BBVA’s Secure Send.

BBVA is a fairly large bank so it’s no surprise it takes security seriously.

Here are some of the ways BBVA protects you:

  • Online and mobile banking alerts whenever any unusual activity goes on in your account.
  • All customers can apply for the ClearBenefits Program, including identity theft insurance up to $25,000, identity theft restoration, and roadside assistance.
  • All data goes through SSL encryption, to protect your personal and financial data from hackers.

BBVA BBVA Visit Site

Security

BBVA is a fairly large bank so it’s no surprise it takes security seriously.

Here are some of the ways BBVA protects you:

  • Online and mobile banking alerts whenever any unusual activity goes on in your account.
  • All customers can apply for the ClearBenefits Program, including identity theft insurance up to $25,000, identity theft restoration, and roadside assistance.
  • All data goes through SSL encryption, to protect your personal and financial data from hackers.

Conclusion

Some people prefer a physical bank, others prefer an online-only bank. For those who want the advantages of both, there’s BBVA. BBVA is a little more expensive to use than online-only banks. For example, new checking customers are charged a monthly fee, and the overdraft fees are higher than the norm. The main reason to choose BBVA is that it offers the benefit of being more convenient than a traditional brick-and-mortar bank while offering almost all the features you can expect from an online/mobile bank.

Michael has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, pay down debt and save for retirement. Michael is passionate about personal finance, saving money, and all things geeky.

BBVA customer reviews

Be the first to write a review

Adjust category ratings

Ease of use

0 people say

Ease of use

Brand satisfaction

Value for money

Service quality

Brand satisfaction

0 people say

Ease of use

Brand satisfaction

Value for money

Service quality

Value for money

0 people say

Ease of use

Brand satisfaction

Value for money

Service quality

Service quality

0 people say

Ease of use

Brand satisfaction

Value for money

Service quality

Share your experience

People discuss, price, satisfaction level and more.

Write your review

02 Jun 2020

Almost done!

Check that everything's correct, fill in your details, and submit your review!

Anonymous.
0 people say

Ease of use

Brand satisfaction

Value for money

Service quality

Today

Thank you!