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  BBVA Savings

BBVA Savings

in Savings Accounts from BBVA · Member fdic

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BBVA Savings

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in Savings Accounts from BBVA · Member FDIC

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Highlights
Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.05%
APY Minimum Balance N/A

BBVA Savings Review

BBVA Savings is offered by BBVA, a bank founded in 1964 and based in Birmingham, AL. BBVA Savings is available in 7 states across the USA.

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 Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee $500
Minimum Direct Deposit to Avoid Monthly Fee $25
Minimum Opening Deposit Starting at $25

What APY does BBVA offer?

BBVA savings account offers an APY of 0.05% (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. Avoid the monthly fees by setting up a direct deposit of at least $25.

  • 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 $55 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.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 7 states
  • Alabama
  • Arizona
  • California
  • Colorado
  • Florida
  • New Mexico
  • Texas

Feature Breakdown

Minimum Balance to Avoid Monthly Fee $500
Minimum Direct Deposit to Avoid Monthly Fee $25
Minimum Opening Deposit Starting at $25
Early Account Closure $25
Monthly Fee $0 - $5
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $25
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $55
Bauer Financial A+/A Rating
Bank Account Features
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Fraud Monitoring
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No ATM Fees
  • No Monthly Maintenance Fee
  • Soft Credit Pull
APY (Annual Percentage Yield) 0.05%

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