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  BBVA Online Savings Account

BBVA Online Savings Account

in Savings Accounts from BBVA · fdic

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BBVA Online Savings Account

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in Savings Accounts from BBVA · Member FDIC

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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1 user doesn't recommend
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Highlights
Community Rating

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Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.01%
APY Minimum Balance N/A

BBVA Online Savings Account Review

BBVA Online Savings Account is offered by BBVA, a bank founded in 1964 and based in Birmingham, AL. BBVA Online Savings Account is available in 48 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $500.
  • No ATM fees. BBVA Online Savings Account does not charge fees on ATM transactions.
  • Soft credit pull. This bank will not perform a hard credit pull when you open a checking account.
BBVA savings account Pros & Cons
Pros Cons
  • Available in 48 states.
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
  • Monthly service charge (if minimums are not met).
BBVA savings account FAQ

Are savings accounts from BBVA federally insured?

Yes, your BBVA savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #19048). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does BBVA offer a signup bonus?

BBVA savings account doesn't offer a signup bonus.

What is the minimum initial deposit for BBVA savings account?

The minimum deposit to open a BBVA savings account is $25.
BBVA Online Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Direct Deposit to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $25

What APY does BBVA offer?

BBVA savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does BBVA savings account charge?

BBVA savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $500.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $15 fee.
  • BBVA savings account charges a $25 fee for an early account closure. Contact BBVA savings account for more details on what is considered an early closure.
  • BBVA savings account charges $3 every time you request a paper statement.

What features and perks does BBVA savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - BBVA savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - BBVA savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
  • Soft credit pull - BBVA savings account performs a soft credit pull so you can check whether you qualify without hurting your credit.

Can you set up a direct deposit to BBVA savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for BBVA savings account?

The customer support email for BBVA savings account is abuse@bbvausa.com.

How do people rate the customer service and user experience of BBVA savings account?

Overall, BBVA savings account is strongly not recommended based on community reviews that rate customer service and user experience.

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Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Direct Deposit to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $25
International ATM Surcharge $0
Early Account Closure $25
Monthly Fee $0 - $5
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $45
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Soft Credit Pull
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.01%

BBVA Online Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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