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BBVA Review 2021

Updated December 2, 2022
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At a glance

3.4
Rating: 3.4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.4 stars out of 5

Checking

Rating: 3.9 stars out of 5

Savings

Rating: 2.7 stars out of 5

MMA

Rating: 2 stars out of 5

About Bankrate Score

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Overview

BBVA is best for consumers searching for a full-service banking option and comfortable eventually becoming a PNC customer once its acquisition of BBVA closes.

Highlights

  • No Monthly Fees
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

BBVA is a full-service bank with a range of deposit products. It was recently acquired by PNC, and the transaction is expected to close in mid-2021.

Pros

  • Checkmark

    CDs require only a $500 deposit to open.

  • Checkmark

    There's no monthly service charge for free checking or online checking.

  • Checkmark

    The money market account offers check-writing privileges.

Cons

  • PNC is going through the process of closing on its acquisition of BBVA.

  • You can find higher yields on deposit products elsewhere.

BBVA bank products

2.7
Rating: 2.7 stars out of 5
Bankrate Score

BBVA savings overview

BBVA advertises two savings account: BBVA Savings and Online Savings. The differences between the two are negligible.

The Online Savings account pays a very low APY. Savers looking to earn any APY beyond the minimum should consider stashing their money elsewhere. Customers will need a $25 deposit to open the account. There is no quarterly fee on this account.

The BBVA Savings account, meanwhile, charges a $15 quarterly fee, but the fee is waived with a $500 minimum daily balance or if you set up a recurring monthly transfer of at least $25 from a BBVA checking account. Customers will need a $25 deposit to open the account as well. BBVA Savings pays the same small APY as the Online Savings account.

Customers can link their BBVA checking account to the savings account for overdraft protection.

Pros

  • Checkmark

    Only $25 is required to open either savings account.

  • Checkmark

    Customers can link it to their checking account to avoid overdraft fees.

Cons

  • Both savings accounts pay a very small APY.

  • BBVA Savings charges a quarterly fee, though it can be avoided.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.4 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

BBVA provides access to several hundred branches, tens of thousands of ATMs and impressive technology. The mobile banking app is available both on the App Store for iOS and on Google Play for Android. The app is fully bilingual (Spanish and English) and has scored favorably among its users. The app includes functionality that not every bank has, including a search tool that lets you use your voice, as well as typed-in commands, to find what you’re looking for. You can also apply for new accounts using the mobile banking app. BBVA also offers digital budgeting tools that let you pull in data from non-BBVA accounts to get a picture of how you stand across all of your bank accounts.

The mobile banking app for your tablet allows you to deposit checks, see your check deposit history, send money via payments and transfers, and see PDF statements of your checking, savings, money market and credit cards.

Customer service representatives are reachable by phone, though BBVA’s website doesn’t disclose the days and times they’re available.

About BBVA

BBVA is a brick-and-mortar bank with hundreds of branches across seven states. In November 2020, BBVA announced it would be acquired by PNC. The acquisition is expected to close in mid-2021. “BBVA USA customers will continue to be provided services by BBVA USA until the second half of 2021,” according to a statement from PNC’s chairman, president and CEO.

In the meantime, BBVA offers consumers a full-service banking option with a range of deposit products.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.