Founded in 1964, BBVA is an award-winning bank that has since grown to offer 649 branches across the United States. Apart from its prevalent physical presence, BBVA was also awarded the 2019 Javelin Mobile Banking Leader award for the functionality of its mobile app for the sixth consecutive year in Javelin Strategy & Research’s Mobile Banking Financial Institution Scorecard.
In terms of its specific services, BBVA offers checking and savings accounts, credit cards, and investment solutions. Many of its accounts come with minimal-to-non-existent monthly service charges and free check-writing access.
In this review, we’ll take a deep dive into everything you need to know about BBVA. As of summer 2021, we should note that BBVA is now a part of PNC. So, in the coming year, its banking services will transition to similar PNC services.
Pros and Cons of BBVA
- Award-winning mobile banking
- 55+ years of experience
- Full suite of banking services
- Competitive rates for credit cards and loans
- 600+ branch locations
- Generous special offers when taking out a BBVA credit card
- Limited no-fee ATMs across the United States
- Banking fees can vary depending on where you live
What Does BBVA Offer?
You’ll find all of your standard banking products and more with BBVA, including:
- Checking Accounts: In addition to a standard checking account with no monthly service charge, BBVA also offers a premium checking account for $19/month. The premium account comes with perks, including a personalized BBVA VISA debit card and two automatic rebates for fees incurred at ATMs outside of the BBVA network.
- Savings Accounts: BBVA offers multiple savings accounts, including BBVA Savings, Online Savings, and BBVA Money Market. You need to make an initial $25 deposit to open one of these accounts. Another key point to note is that you can withdraw for free from a BBVA savings account up to 4 times per statement cycle. The savings accounts can be withdrawn from up to 4 times per statement cycle for free. Additionally, you can withdraw for free up to six times per cycle from a money market account.
- Credit Cards: BBVA offers multiple credit card options, including BBVA Rewards Card, BBVA ClearPoints Credit Card, Select Credit Card, and Optimizer Credit Card. Depending on your needs, there’s a standard rewards card, a customizable rewards card, or a premium rewards card. Designed for those who want to build or improve their credit, the Optimizer Credit Card is secured by a collateral savings account.
BBVA also offers several lending and investment solutions, including:
- Personal Loans
- Auto Loans
- Home Equity Line of Credit
- Home Equity Loans
- Mortgage Loans
- Full-service investments
- Hands-on investing
- Guided portfolio options
What To Expect on the Site
There are several ways you can bank with BBVA: you can do your banking online, in person, over the phone, or through the bank’s mobile app.
If you choose to bank through their mobile app, you can expect a great mobile banking experience. With top-of-the-line security features (Touch ID, Fingerprint Authentication, Face ID, and Face Recognition) and award-winning usability, you can safely and swiftly:
- Deposit checks via your mobile device and view your check deposit history
- Send money with simple, quick, and easy Payments and Transfers
- View PDF account statements for checking, savings, money market, and credit cards
Through the app, you can even stay protected if your device is stolen or lost through the Disable Device Access feature, which allows you to turn off quick access features from another device.
If you’re interested in opening a BBVA checking or savings account, then you’ll need to make a $25 initial deposit to open either. Notably, BBVA checking accounts don’t have any monthly service fees. Additionally, the bank provides four automatic rebates per statement cycle for any fees you incur at out-of-network ATMs.
However, BBVA does have overdraft fees. The bank charges a relatively pricey overdraft fee of $38. It’s important to keep in mind that BBVA can charge that fee up to six times per day.
The Bottom Line
While those who prefer to do their banking in person will certainly be pleased with BBVA’s 600+ branches spread across the United States, the bank’s online and mobile presence is what truly sets it apart. Having won the Javelin Mobile Banking Leader award for six years in a row, BBVA’s online banking experience provides unparalleled security, usability, and convenience.
Whether you’re looking to open up a checking or savings account, take out a personal loan, apply for a HELOC, work with a qualified financial consultant to meet your investment goals or anything in between, BBVA is worth checking out. It deserves to be on your radar as you compare the best online banking options.