HomeArticlesIs BBVA a Legit and Safe Bank?

Is BBVA a Legit and Safe Bank?

Is BBVA a Legit and Safe Bank?

Second Chance Banking

These items include: Another advantage of BBVA is that it provides various second-chance banking options to people in need of a new start. It allows you to recover and repair your credit, even if you’ve made some banking blunders in the past.

BBVA Checking is a free service provided by BBVA.

This account has no restrictions (apart from a $25 starting deposit) and is an excellent place to start if you’re new to banking. In addition, there is no charge for monthly service.

BBVA Easy Checking is a service provided by BBVA.

You can still be authorized for Easy Checking and start over if you’ve had more severe banking troubles and don’t qualify for a conventional checking account. However, there is a $13.95 monthly service charge on this account.

You can upgrade to Free Checking after a year of positive activities.

The BBVA ClearSpend Card is a credit card issued by BBVA.

This is a prepaid debit card that aids in budgeting and avoiding overspending. Overdraft costs are not charged. You can load the card with cash, direct deposit from your paycheck, or online money transfers.

BBVA Optimizer Credit Card

This is a secured credit card designed to assist you in rebuilding your credit. A collateral savings account backs up your credit line. Put monies into your savings account to raise your credit line.

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BBVA Customer Service

BBVA is well-known for its dedication to providing excellent customer service. Here are a few of its highlights.

24/7 video banking

You can video call a live teller at a branch at any time of day or night with our unique drive-through service. They can assist you with various tasks, including making transfers and deposits, paying a bill, stopping payments, reporting a misplaced debit card, and so on.

Extended customer support hours

Monday through Friday, 7 a.m. to 10 p.m. CST, and Saturday, 9 a.m. to 1 p.m. CST, are BBVA’s customer service hours.

Schedule a callback

You can book a call with a representative via the BBVA mobile app at a time that is convenient for you. You won’t have to wait on hold if you do it this way.

BBVA Banking Customer Service Numbers:

  • 1-844-228-2872 (AL, AZ, CA, CO, FL, NM, TX) Customer Support & New Accounts
  • 1-866-534-4482 (other states) for customer service and new accounts
  • 1-800-273-1057 for online and mobile banking

BBVA Lending

BBVA also offers loans for nearly any purpose. When you set up periodic auto-debit loan payments, you can get a rate reduction on most loans.

Express personal loans

These loans can be utilized for a variety of purposes, including significant purchases and debt consolidation. There are no restrictions for collateral. If you apply online for a loan of up to $35,000, you may be eligible for same-day funding.

Home loans

BBVA offers fixed and adjustable-rate mortgage loans and home refinancing.

Home equity loans

It also offers home equity loans and lines of credit, allowing you to leverage the equity in your home for nearly any reason.

Auto loans

Whether you’re buying a new or used automobile, BBVA offers low fixed auto loan rates. In addition, there are no documentation costs or penalties for paying in advance.

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Of course, it’s always a good idea to compare rates. Those with good credit will acquire the best interest rates and the most significant loan amounts.

Downsides

  • Low-interest rates
  • BBVA Bank has among of the lowest annual percentage yields in the business, particularly on extensive deposits. This includes their CD interest rates, which are designed to give you a higher return in exchange for locking up your money. If you want to get a better return on your money, look into high-yield savings accounts.
  • Not nationwide
  • If you wish to do your banking in person, you must live in one of the seven states where BBVA Bank is located. However, it does offer online account choices and free ATM access through the Allpoint network.
  • High overdraft fees
  • The price for an overdraft is $38 per overdraft. Even if you have connected checking and savings accounts and select for overdraft protection, the transfer cost is still $12. (once daily). One error can be costly, especially if you leave the overdraft open for more than one day or if the bank has to settle multiple fees on your behalf.

Finding Your BBVA Routing Number:

To set up a direct deposit or make an electronic transfer, you’ll need your BBVA routing number. The number can be found on the bottom left side of your BBVA checks. Remember that each state where BBVA does business has its unique routing number, so make sure you select the correct routing number for your state to ensure that your payments are correctly routed.

Is BBVA A Good Bank?

The low savings rate is a disadvantage. Instead, look at these savings accounts. BBVA USA provides excellent customer service, as well as good banking products and convenient ATM access. If you live in a BBVA service region and want a physical bank with a free checking option, it’s an excellent alternative to explore.

We appreciate that BBVA offers confident free checking choices, which is uncommon among traditional banks. It’s also beneficial that BBVA provides second-chance banking to folks who have had difficulty getting an account elsewhere.

Even if you don’t live near a BBVA branch, BBVA is quite accessible. You can still use the Allpoint network to receive free ATM access and bank online 24 hours a day, seven days a week.

How It Compares

BB&T

BB&T has locations in 16 states, which is greater than BBVA’s five states. To meet the needs of a wide range of customers, BB&T offers five checking and five savings accounts.

Not all BB&T monthly service costs are refundable, so read the fine print before signing up for an account.

Bank of America

Bank of America offers somewhat higher interest rates on savings and CDs. Branches can also be found throughout the United States.

Bank of America has various options for avoiding monthly service fees but fewer checking and savings accounts to select from.

Bottom Line

BBVA offers simple accounts without all of the frills, as well as good free checking account options. However, you may want to search elsewhere if you want promotions, actual branches to visit, or high-interest rates.

Note: Some of the products and services mentioned on this website are made possible through financial partnerships. If you shop through links in our content, we may gain money. You are not obligated to utilize our links, but if you do, you will be helping CreditDonkey.

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