BBVA Savings
BBVA Savings
in Savings Accounts from BBVA · Member FDIC

BBVA Savings

in Savings Accounts from BBVA · Member FDIC
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4 reviews
Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.05%
Minimum Balance to Earn APY N/A

BBVA Savings Review

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

Key Takeaways

  • Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
  • $0 monthly account fees 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 or have a monthly direct deposit of $25.
  • No ATM fees. BBVA Savings 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
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Only available in 7 states.
  • 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 Savings Minimums
Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Direct Deposit to Avoid Monthly Fee Starting at $25
Minimum Opening Deposit Starting at $25

What APY does BBVA Savings 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?

Yes, you can typically set up a direct deposit to this account. 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

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

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Direct Deposit to Avoid Monthly Fee Starting at $25
Minimum Opening Deposit Starting at $25
Monthly Fee $0 - $5
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $55
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $25
Early Account Closure $25
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
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) 0.05%

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