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BBVA Savings Account Review

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BBVA is an Alabama-based bank that offers banking services to individuals and businesses alike, which include checking, savings, credit card, CDs, and mortgages. The company was founded in 1964 as a subsidiary of Spanish-based Banco Bilbao Vizcaya Argentaria, and has over 600 branches in 7 states, which include Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
 
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How is BBVA rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

BBVA savings account is a great choice for individuals and businesses from Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas that are looking for online banking services from a large, long-standing bank. Their savings accounts offer ordinary benefits, such as overdraft protection, free online and mobile banking, and no ATM fees at branded locations. Therefore, customers looking for competitive APY and additional benefits, such as reward points, will find better options elsewhere.

BBVA Account Features

Balance Requirements - 0 / 5

BBVA offers four different savings accounts: ClearChoice Savings Account, ClearChoice Money Market, ClearConnect Savings Account, and Build My Savings Account. Each account offers almost the same benefits, which include quarterly-compounded 0.5% interest, waivable quarterly fees, 24/7 banking online or through BBVA Connect's mobile app, and overdraft protection by connecting a BBVA checking account. However, there are a few extra benefits awarded by each account. Clear Connect Savings charges no quarterly service fees, while ClearChoice Money Market offers an improved 1.70% APY accrued monthly instead of quarterly. BBVA Build My Savings account also has benefits, earning 1.0% of total transfers as bonus, and allowing customers to choose their opening balance and the length of their plan. Customers can withdraw cash free in person or through a ATM as long as they belong to BBVA Connect.

APY (Annual Percentage Yield)

ClearChoice Savings: 0.5%, Clear Choice Money Market: 1.70%, ClearConnect Savings: 0.050%, Build My Savings: 0.05%
Interest Compounded
Monthly
Integration with Other Online Accounts
Checking
Mobile App
Yes
Debit/ATM Card
No
ATM Fees
-Other bank ATMs: $3 per transaction -International ATM service fee: 1% of transaction amount. -Non-ATM International service fee: 3% of transaction amount.
No-Fee ATM
No-Fee at Branded ATMs
No-Fee at Network ATMs
Branch Offices
672 total Branches in 7 states: 344 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado, and 19 in New Mexico.

BBVA Fees and Restrictions

Rates and fees - 0 / 5

There are a number of fees linked to all of BBVA savings accounts, most which are very expensive compared to other banks. They charge a $15 maintenance fee, quarterly for ClearChoice Savings and monthly for their Money Market account. This fee is waivable, but only if customers maintain a specific balance or incur a monthly transfer of at least $25 from a BBVA checking account. All accounts share fees, which include a sizable $38 fee for insufficient funds per paid or returned item, $25 extended overdraft charges, a $32 stop payment fee, a $25 early closing fee, a $15 fee on incoming wires, and a $30 on outgoing. There is also a $3 telephone transfer fee, so customers are recommended to do their transfers online or through their mobile app. As with all savings accounts, there is a maximum of 6 withdrawals per month, but this limit does not apply to in-person or ATM withdrawals.

Fees

Maintenence
Insufficient Balance Fee
Inactivity Fee
Passed Monthly Transaction Limit Fee
Returned Deposit Fee
Overdraft Fee
Out of Network ATM Fee
Minimum Opening Deposit
$25

BBVA Reputation & Financial Strength

Financial Stability & Ratings - 0 / 5

BBVA has average online scores when it comes to customer support. They have a B- rating with the Better Business Bureau, a score that resulted from being unable to respond to four complaints. The company has a Trustpilot profile, but there are no reviews on record. Other customer review websites, such as Yelp, also rate BBVA with average scores. Positive reviews praise the professionalism of their representatives, while negative reviews mention problems with unwarranted fees being charged. Financially, being one of the top 25 banks of the United States, BBVA shows strong financial ratings, which means that customers can rest assure their accounts are safe. Customers deposits are FDIC insured.
Year Founded
1964
Standard & Poor's Financial Rating
A-
Moody's Financial Rating
Baa2
Consumer Financial Protection Board (CFPB) Complaints
2,467

Contact Methods

  • Phone
  • Email
BBB Rating
B-
BBB Total Complaints
585
BBB Resolved Complaints
111

Company Profile

Full Name
BBVA Savings Account
Company Website
https://www.bbvausa.com/
Headquarters
15 20th St S STE 1501 Daniel Building, Birmingham, AL, 35233

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Customer Comments & Reviews

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Ric C
11/10/2018
Not even part of the BBB AND saying you have a B- Rating, the reception continues. After reading several reviews for all types of accounts that are offered by this bank. You couldn't pay me to do business there, go elsewhere they only want to take your money from you.

Top Rated
Our Partner
3.90% APY on Savings Account
  • $0 monthly balance
  • 60,000 ATMs
  • Easy cash access
  • 24/7 live customer support
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