GOBankingRates’ list of the 12 best checking account promotions available now includes a special offer from Birmingham-based BBVA Compass Bank that can put some extra cash in your account.
BBVA Compass Bank offers a variety of banking products that fit the needs of its customers, and until April 30, 2015, the bank is using a special promotion to thank first-time customers for choosing its services. Open a Compass ClearChoice Checking account with BBVA Compass, and you can receive $150.
How to Get the ClearChoice Checking Account Bonus
The requirements to receive the bonus are clear: Within the first two calendar months of opening a ClearChoice Checking account, make one or more electronic deposits totaling $1,000 in a calendar month from a third party to post to your checking account. Additionally, within two calendar months, link a BBVA Compass savings or money market account to your new checking account.
You will earn a $10 bonus up to $120 over 12 months for each calendar month you maintain the linked savings account and have $1,000 or more direct deposited to your BBVA Compass checking account. You will receive an extra $30 if the monthly electronic deposit requirement is met for 12 consecutive months. In total, you can earn $150 bonus cash through the BBVA Compass ClearChoice Checking promotion.
The checking account will require a minimum opening deposit of $25. This is not a fee, so the funds will be available for your use when the deposit posts to the account. You cannot have had a checking account open with BBVA Compass within the last 90 days of the account opening to qualify for the promotion. Be sure to consult a banker as well for a disclosure of miscellaneous fees and charges that might apply. BBVA Compass offers an easy-to-understand explanation of fees and service charges and allows customers to select services so that you only pay for the features that you need.
Money-Management Features of the Accounts
BBVA Compass offers customized solutions to meet your banking needs. You can receive an up-to-date transaction history on your computer or mobile device, as well as many other options that make your life easier. Having a checking and savings account open with BBVA Compass can help keep your finances in order. Linking a checking account and savings account can provide access to your emergency fund if you’re overdrawn or money gets tight.
Depositing your funds electronically also saves time so that you’re not waiting for a check to arrive and then waiting several business days for the deposit to post to your account. Electronic deposits are usually available immediately, and the consistency of the direct deposit system helps you avoid extra hassle associated with taking deposits to a branch or mailing them in.
Receive an Up-Front Interest Payment
Using a promotion like this one is a smart way to increase your savings. Interest rates for checking accounts have steadily decreased and are not available on all checking accounts, so you could think of this bonus promotion as an up-front payment of interest that you normally wouldn’t receive.
This promotion is only available until April 30, 2015. Visit a BBVA Compass Bank location or use the bank’s website to apply online to open your ClearChoice Checking account and take advantage of this special offer.