Although BBVA’s presence in the United States does not exceed 15 years, it made a strong entry by acquiring Compass Bancshares in February 2007, a bank founded in March 1964.
This Alabama-based subsidiary has its strongest operating footprint in the Southeast and Southwest regions of the United States, primarily in the states of Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
To open an account at BBVA Compass you need:
- Personal information (name and date of birth)
- Social Security Number or Individual Taxpayer Identification Number (ITIN)
- A U.S. address
Possibly, you may also need to bring to the branch your driver’s license, state ID, or military ID to verify your identity. You can open your account online at bbvausa.com or by calling 1-844-228-2872.
BBVA Compass Checking Account Types
This corporate holding offers three checking accounts with similar opening criteria and benefits. All of them can be opened with a minimum deposit of $25, and with it you gain free online and mobile banking services and a Visa debit card with cash back.
BBVA Free Checking
As its name suggests, this checking account has a monthly service charge of $0, with no need to maintain a minimum balance. The main feature of this account is that you can tailor your benefits at a low cost. For example, if you want to be free from charges for withdrawals at ATMs of other banks, you only need to pay a monthly fee of $5. If you want to have this benefit plus unlimited checks, cashier’s checks, and a safe deposit box, the maximum monthly fee for all these services would be $12.
BBVA Online Checking
Practically it has the same features as the Free Checking account, with no monthly service fee, availability of cash withdrawals at the bank’s 64,000 ATMs network. The big advantage of this option is that even if you don’t live in one of the states where it operates, you can open your own account online.
Premium Checking
This account carries a $19 monthly fee that can be avoided by having a direct deposit of $4,000 or with an average daily balance of the same amount. You can have up to two automatic reimbursements of fees charged by other banks when withdrawing cash from their ATMs. This account can offer an annual percentage yield of 0.01% APY regardless of your balance.
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