BBVA Review

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Advantages Over Regular Bank

For residents in one of BBVA’s states, BBVA is a one-stop place for all of your financial needs—from interest-earning checking accounts and reward credit cards to mortgage and small business loans. For all U.S. residents, BBVA offers an option for fee-free online banking accounts when you meet the minimum deposit requirement and opt for digital statements. 

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

• Earn a competitive APY on your checking and savings account at any balance.
• Transfer money, pay bills, and get statements online or with the mobile app.
• Keep your account safe with constant alerts and the ability to change your pin anywhere and anytime through the app. 

Cutting-Edge Banking Services

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

• Free financial tools that allow you to link your BBVA account with other external financial accounts for easy tracking.
• 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.
• BBVA’s Simple Cash Back allows you to choose offers and earn money on your regular purchases.
• Second chance banking makes it possible for customers with bad credit to improve their financial situation.
• Secure international money transfers to 20 countries, including Mexico and most of Latin America.

Traditional Banking Services 

Whether you want to quickly track and manage your daily spending or buy your dream home, BBVA has you covered. BBVA offers several traditional services that many online banks don’t offer their customers, including the following:

• Reward credit cards
• Second chance accounts and cards for individuals with poor credit
• Access to physical branches in 7 states: Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas
• No ATM fees at more than 64,000 locations nationwide
• Mortgage and home equity loans at competitive rates
• Same-day express personal loans and auto loans with flexible terms

Interest Rates and Fees 

Most of BBVA’s accounts earn interest without requiring the account to hold a minimum balance. You will need to have $25 to open an account and account fees vary, but are usually waived if you keep a minimum balance or initiate automatic deposits. 

The following table gives an overview of some of BBVA’s interest accounts:

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How to Open an Online Account

Customer Service 

Even if you cannot access BBVA’s brick and mortar locations, you can access their customer service at any time, minus the recognized holidays of New Year’s, 4th of July, Thanksgiving, and Christmas. 

The easiest way to contact customer support is through the app or your online account. You can also phone the following numbers:

• 1-800-266-7277 for all customer support in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. 
• 1-866-534-4482 for all other new accounts in other states
• 1-800-273-1057 for all online and mobile banking customer service

Mobile App

Unlike many hybrid banks, BBVA’s online and mobile banking is cutting-edge banking technology. Not only did BBVA upgrade their app to make it simpler and faster to use, but there are also several unique things the app can do.

The upgraded app allows you to:

• Have all of your most-accessed features on a new navigation bar for quicker use.
• Create budgets and visualize your spending
• See all of your debts in one place and learn how to pay them off in a smart way
• Set financial goals to make plans and see progress through a timeline
• Add products and accounts
• Move money between accounts or pay friends and family
• Access assistance without having many tabs open
• Get real-time banking alerts on account balance, withdrawals,and deposits.

Security

BBVA takes many steps to protect you and your account. You can set up real-time alerts for any of your BBVA accounts.

Additionally, BBVA has a ClearBenefits Program for $4 a month which includes:

• Identity theft restoration: BBVA is available 24/7 to investigate fraudulent activity and issue fraud alerts.
• Identity theft insurance: Your account is covered up to $1,000,000 to cover lost wages, legal expenses, and defense costs for civil and criminal lawsuits.
• $10,000 accidental death & dismemberment
• Cell phone protection: Receive up to $200 (less $50 co-payment) in theft or damage protection on up to three phone lines when you pay your monthly phone payment with your BBVA checking account.
• Roadside assistance services: Stuck in the middle of nowhere? BBVA’s toll-free dispatch services allow for 24/7 access to towing, fuel delivery, tire changes, lock outs, winching, or jump starts.

Conclusion 

BBVA is a good hybrid and online banking choice especially for residents on the west coast. In case you meet the requirements needed to waive the account fees, this can be a great online banking choice for you.