Compass Bank Checking Account

May 27, 2009 1 Comment »

bbva compass bank checking accountUpdate 2012: BBVA Compass Bank is no longer offering a cash back checking account. As of 2012, their most lucrative checking account features a $100 bonus. You’ll need to read the requirements to avoid a monthly fee of between $10.00 and $20.00 depending on the specific brand of checking account you opt for (visit bbvacompass.com).

BBVA Compass Bank, based out of Alabama, is the second largest bank in that state by asset size and the 32nd largest bank in the United States. They were established in 1968 and have since grown to control almost $50 billion in consumer deposits while servicing almost $42 billion in loans. They have 720 locations throughout the country and employee almost 11,000 people.

Related: BBVA Compass Bank Deposit Rates.

Checking accounts in general have seen fees increase throughout 2011 and 2012. Many of the nation’s top banks now have minimum balance requirements on even their most basic forms of checking accounts. If you go under this amount a fee of between $5 and $30 is usually imposed.

- Offer from Archive -

Compass Bank currently has a cash back checking account which is running all summer long!

From May 18, 2009 until July 31, 2009 you can pay for gas, groceries and utilities with your BBVA Compass Visa Check Card (free with your new checking account) and receive 5% cash back. Within a couple days of each payment, you’ll receive your 5% cash back automatically deposited into your checking account.

Compass Bank Checking Account Promotion Details:

(as seen on the BBVA Compass Bank promo page)

  • Utilities. Pay online, over the phone or in person using your Check Card. You can earn a rebate on just about all your household utilities, including electric, gas and water.
  • Groceries. Load up your cart & swipe your Check Card.
  • Gas. Save every time you use your Check Card to fill up your tank and grab a few snacks.
  • $50 max per month. You can only earn up to $50 per month from this promotion
  • $25 minimum for opening a new checking account
  • Offer valid through July 31, 2009
  • Cash back will be credited to your checking account 2 business days after the qualifying purchase has been posted

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  • Jerry

    So the maximum you should spend on your free checking debit card is $1000?

    $1000 x 5% = $50 (aka the max cash back you can earn)

    Is this assumption correct?