BBVA Compass ClearChoice Savings Account Review

BBVA Compass is an FDIC-insured bank based in Birmingham, Alabama. It has $87.6 billion in assets and 672 locations throughout the United States. The bank was founded in 1964 as Central Bank of Birmingham. In 1981, it changed its name to Central Bank of the South. It changed its name again in 1993, this time to Compass Bank. In 2007, it was bought by the Spanish multinational Banco Bilbao Vizcaya Argentaria, the second largest bank in Spain. BBVA was founded in 1857 and has over $750 billion in assets.

BBVA Compass provides a free checking account, ClearChoice Free Checking, and a money market account, ClearChoice Money Market Account.

What Are the Features and Fees of BBVA's Compass ClearChoice Free Checking?

BBVA Compass ClearChoice Free Checking is a genuinely free checking account with no fees on BBVA Compass ATMs, free online and mobile banking, free online and paper statements, and a free Visa debit card you can personalize with your favorite photo.

The account also has a savings account attached, which is free as long as you have an automatic monthly transfer of at least $25 from your BBVA Compass checking account and you maintain a minimum daily balance of $500 or more in the savings account. If you don't meet those requirements, the savings account has a $15 per quarter service charge.

What Are the Features and Fees of BBVA's Compass ClearChoice Money Market Account?

BBVA's ClearChoice Money Market Account provides savers with competitive rates and the services you expect from a checking account. The account includes online banking, mobile banking, ATM banking, and direct deposits. The interest rates vary from state to state but range from 1.70% APY. 

There is a minimum deposit of $25 to open the account and a monthly fee of $15, which is waived if your balance remains over $10,000 or you have an automatic monthly transfer of at least $25 from a BBVA Compass checking account.