By law they have to give you 6 transfers out, but they want to charge you $3 per transfer and limit you to $5000 max transfer a day, not only that, it takes 2 business days when most banks go instantenously through zelle for free! This is the 21st century, not 1950.
Can not close my account. I have 15k and they will only allow you to transfer 5000 a day and 2 transfers a month. Will take me 2 months to close the account. Never again with BBVA. Plus they charge $3 a transfer
I have reluctantly come to the conclusion that BBVA is currently scamming its CD customers. What may have happened is that lower level management has been incentivized to make additional profits by scamming its customers similar to what other banks such as Wells Fargo have done in the past. I have come to this conclusion because of multiple duplicitous statements they have made. They say they record customer contacts but when challenged to produced them that say they have no records. What they do is offer a high CD rate but then don't deliver on the promise, I would avoid them like the plague. The average of all their 80 Better Business Bureau reviews is 1 : the very worst yet the BBB gives them a rating of B- (what would they need to do to get an F? )
Six weeks ago I bought a CD from BBVA...or thought I did. I provided routing and account numbers for the checking account from which they were authorized to withdraw payment, and they made two small deposits to verify that I own the account. When I reported the amounts back to them they told me they were incorrect. A typo? Inverted figure? No big deal. (Until you get on the phone to try to fix it.) After 25 minutes on hold and a disconnect that sent me to the back of the line I reached a rep with such a pronounced accent that I understood approximately every third word. Nonetheless I thought everything was cool. Not so. The CD appeared in my BBVA account, but payment was never withdrawn from my checking account. Another unintelligible phone call. Several hours of scouring the website for some form of written contact....an email address or snail mail or smoke signals...anything without a foreign accent! Unless I missed something, it's phone contact or nothing. I couldn't even reply to the “no reply” email notifying me that, at my request (?!?), my account has been removed from Mobile and Online Banking. Actually, it's kind of a relief.
THE WORST SCAM EVER. After a teaser rate on CD or Money Market, it all goes down to 0.1%, and they don't give option not to renew. If you don't watch the rate everyday, and need to withdraw from CD, they charge 1% plus $25. I am about to go close the account and pay over $1,500, but better off leaving a cent at this bank to go negative with all penalties and fees.
I will never do business with Compass Bank ever again. Wait till you try to get your money when your CD matures. O, they'll let you apply for & fund a CD on line, but just wait till it matures & you try to get your money out. Their rates suck so bad right now that nobody in their right mind would open a CD with them at this time, but I opened a 5 year CD with them (5 years ago) and it just matured on 12/31/17, and you would think I was the worst customer ever because I now want to transfer my money into a bank that is paying 5 times the interest they are. I was on the phone with them several times before it matured explaining to them that I was going to be withdrawing the money as soon as it matured. Well, when it matured, and then they renewed the CD against my will at .50%. They won't let me electronically transfer the money out of their bank and they wont transfer the money for me, and the nearest branch to me is an 80 mile round trip. Their call back service hung up on me twice and when I did finally get thru to someone, they transferred me all around and then hung up on me again and I still never got my money transferred, so I sent them a message thru their secure message center requesting the money to be transferred so I have something in writing within the 10 day grace period proving that I contacted them and requested the money be transferred so that I don't get hit with a $25 fee for closing a CD early that I never requested to be renewed in the first place. At this time, you can get a 5 year CD rate of 2.50% (see ratebrain.com). A Discover Bank Savings Account is currently paying 1.3% and your money stays liquid, and Compass wants to pay .50% for a 5 year CD. There's a no brainer. My secure message was suppose to be answered within 48 hours and I am now at 72 hours with no response. They can expect a lawsuit real soon.
Opened an online Clearchoice Money Market account because of the high interest rate. Two weeks later I tried to set up a transfer from a Wells Fargo checking account into the Compass MMA. No luck. Called the online banking number and was told transfers into or out of the MMA from an external bank are not possible. So how do I access the account? Was told I could mail them a check to make a deposit & would have to find a branch to make a withdrawal. How can this be "online" banking?? And if I close the account within 6 months, they charge a $25 fee. Absolutely horrible customer service!!!
The worst. Been with them for over 20 years, but over the past year have gone way down hill. Online app is horrible, impossible to use, not intuitive. Constantly has errors and boots you out. Mobile app is horrible. Final straw was a mobile app deposit that they changed from $5300 (I got the confirmation) to $530 after the fact, AND NEVER NOTIFIED ME!!! And had the audacity to tell me that I really should have noticed this discrepancy....as if it was my fault! Customer service reps are horrible, speak broken English and have no idea how to do anything. You'll spend 45 min on the phone every time you have to call.
I applied for a MM account online for a promotional rate of 1.1%. They replied to the application stating that they could not verify my identity and asked me to go to one of their branch offices. After they verified the identity and the Branch office they told me they could not honor the promotional rate because I was not applying online and offered me a B.S. rate of 0.1% instead of the advertised 1.1%. This is clearly a scam to lure customers to their branch, they never intended to honor the promotional rate. If this is the way this bank conduct business you better stay away from it. This is the worst bank experience I had in many years dealing with online banks. They should get zero starts in the review.
I have been a long-time customer of BBVA Compass for over 6 years now. I first applied when I was 18 years old, and their staff worked closely with me to help setup the account as well as made sure I understood the terms and conditions of service. I previously held an account with Amegy Bank who provided terrible service and charged several fees that I was unaware of, which is why I was a bit wary of moving to a new bank. The times I had been charged for withdrawing too many times from my savings account, BBVA Compass worked with me to waive the fees and they were extremely friendly about it. Any bank transfers to my ClearChoice savings account are usually quick and speedy. Mobile deposits to my savings account using their app also makes banking with Compass a breeze. While they no longer offer yearly rewards and member benefits since the recession in 2011, they have never failed to provide excellent customer service in helping me resolve any issues with my savings account. I highly recommend BBVA Compass, especially if you are a student or if you are opening your first savings account.
The minimum deposit to open a CD is $500. Please visit the following link for more details: https://www.bbvacompass.com/content/bbvacompass/en/personal/savings/cd.html.
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.