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This Spanish bank is strong in the southern part of the country
Although the presence of the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) does not exceed 15 years, it entered the United States with force after acquiring the Compass Bancshares bank in February 2007, which was founded in March 1964.
This Birmingham, Alabama-based subsidiary has its largest operating force in the southeastern and southwestern US, primarily in the cities of Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.
To open a BBVA Compass account you need:
- Personal information (name and date of birth)
- Social security number or Individual Taxpayer Identification Number (ITIN)
- address in the country
You may also need to bring your driver’s license, state ID, or military ID to the branch to verify your identity. You can open your account online at bbvausa.com or by calling 1-844-228-2872.
Types of BBVA Compass Checking Accounts
This business holding company has three checking accounts with similar opening criteria and benefits. All of them can be opened with a minimum deposit of $25 dollars and with that you acquire the service of online and mobile banking completely free and a Visa debit card with cash refunds.
As its name implies, this checking account has a $0 monthly service fee, with no need to maintain a minimum balance. The main feature of this account is that you can set up your benefits at a low cost. For example, if you want to be free of ATM withdrawal fees from other banks, you only have to pay a monthly fee of $5 dollars. If you want to have this benefit plus unlimited checks, cashier’s checks and safe deposit box, the maximum amount of the fee for all these services would be $12 dollars per month.
It has practically the same features of the free account, no monthly service fee, cash availability at the 64,000 ATMs in the bank’s network. The great advantage of this option is that even if you do not live in one of the states in which it operates, you can open your own account online.
This account has a $19 fee that can be avoided by having a direct deposit of $4,000 or an average daily balance of the same amount. You can have up to two automatic refunds of the fees charged by other banks when withdrawing cash from their ATMs. This account can offer you an annual rate of return of 0.01% APY regardless of your balance.