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BBVA (Banco Bilbao Vizcaya Argentaria) - USA is the U.S., FDIC-insured, arm of a Spanish multinational banking group. It is one of the largest (multibillion-dollar) financial institutions in the world. Having ascertained these basic facts and the bank's financial soundness, but with considerable trepidation, I decided to open an online savings (money market) account with BBVA, because it offered the highest APY among those that I could find online. I immediately began to regret that decision and closed the account only two days after it had been opened and my funding deposit had finally become available for transfer.
I am writing this review solely to warn others who may be attracted by BBVA's high savings yield to stay away and look elsewhere. Here is why. To shorten my long list of grievances, the bank has simply refused to enter the 21st century and operates on the basis of policies and procedures that remind me of the mid-20th century. Just a few examples. The application process alone is sheer torture. After filling in the usual personal information, BBVA wanted me to scan and upload a photo ID for verification of my identity. I tried, but its online system was unable to upload the file.
After multiple unsuccessful attempts, I finally called and reached a representative, who was at a loss to explain the failure and then suggested I send the photo ID as an e-mail attachment, which I did. Nothing happened for several days, not even an acknowledgment that the e-mail had been received, much less that my ID had been successfully verified. To accomplish that required a few more phone calls. All in all, it took about one week merely to establish the online account, several more days of staring at a zero account balance until my funding deposit was finally credited. Unless I receive an ex post facto notification at some future date, no interest accrued during that intervening period.
BBVA continues to do some of its business exclusively via "snail snail;" for example, adding beneficiaries to a BBVA online savings account requires a signed paper form to be mailed in via USPS. Imagine -- this is 2019! Its online policies and procedures are opaque, onerous, and customer-averse, and even simple transactions require verification via special code transmission. BBVA's online menu is like an endless, hopeless labyrinth from which there is no escape. My advice: Please don't be lured by the high APY. It's just not worth the unspeakable anger and frustration.
For the last year I hadn’t had any problems with this card- although I found it annoying at times that I had to call each month and “schedule a call back” just to pay my bill because their website doesn’t function properly, ever, and therefore I could never just pay online or through their app. For the last two weeks, I have called early every day. Some days, there is a message saying they are having technical difficulties and to call back another time. Most days, I schedule the callback and have NOT ONCE received a call! ALL I'M TRYING TO DO IS PAY MY BILL!!! I have never been in a situation like this and I do not know what to do. I am beyond frustrated and highly regret opening this account.
They gave my NEW card info to a debt collector! My husband and I have been with BBVA for 20 years. Recently we fell on hard times, we entered debt consolidation and were told to open a brand new account, with brand new debit cards, and let the debt consolidators handle all debt. My husband signed up with LA Fitness 20 years ago. He has not used his membership in approximately a year, LA Fitness called Compass, and sent the contract, and Compass gave them our new debit card number, where they deducted ALL "past due" monthly dues. Keep in mind, he has not even used this service in a YEAR. I am furious, beyond furious. They didn't even call us! I can't call until 9, but we are closing our account and filing a formal complaint. We are disgusted, how is our money safe? What business did they have to circumvent our debt consolidators? Maryanne ** Tucson, AZ
Keep in mind that I did not intend to deposit a fake check of $2500 to my checking account. I fell victim to a scam by a fake employment company that told me to use their check to buy the online materials I needed for the job. Being such a large amount of money, the bank put my account on hold for several days for verification purposes. Understandable.
A week later, I am rejected completely from signing in to my account on the BBVA mobile app; unable to access my routing or account numbers, my deposit statements, nothing. I went to the nearest physical location to try to seek help. One employer said that for closed accounts, they have to speak to their manager who was not there that day so they could not help me. They told me to come another day. After calling customer service, I was put on hold and then hung up on before even being transferred. I called again and got through to a representative. She told me that my account got closed automatically and that she can’t open it back up for my situation. ‘There is no possible way to re-open it’, she said.
I asked if I could open up another bank account and her reply was that my name, phone number, address, and Social Security number were permanently saved to a list that denies me any entry to rejoin as a BBVA member. Mind you, I still had money in this account which was not refunded to me before they closed it. Now I’m being told there was no way I could get my money back. The representative also added in, “Well at least we didn’t report your name to other banks that would prevent you from joining anywhere anymore.” So now I’m being branded as a criminal?! For a check that I didn’t even know was fraudulent?! Thanks for nothing BBVA Compass. You are a piece of garbage as a company and a poor excuse for a bank.
This bank has caused nothing but depression and grief. The customer service is horrible. Every time I go in the bank, I'm treated like a criminal, they always no more than 2 reps each bank. Now I have tolerated a lot from this bank but the last straw was when they charged me $75 just to transfer my own money to my own bank account. I'm going to cancel my account as soon as I can get off work.
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I took out a HELOC in 2007. I was married at the time. I got divorced in 2011. After which my ex-wife declared bankruptcy. She included the heloc in her bankruptcy. I have been paying 350 per month since 2007. Since my ex wife’s bankruptcy BBVA has not sent me a statement of my account. I have spent hours at the branch I used to bank with trying to get answers about what the balance is. All with no results. I have had them hang up on me multiple times. This bank is a disgrace.
If you deposit in a savings account, even with cashiers checks, it might take 10 days to clear. If you try and close your account it might take 15 or 20 phone calls, 6-8 faxes and hours on hold talking to people speaking from a script and they all have different answers to questions. Please don't even think about this bank. I think the federal regulators and the FTC and the BBB should shut them down. I'm leaving NO stars, if it forces me to leave one to post my comment, I will have to do so. This bank is absolutely the worst company I've ever dealt with.
Payments to your credit card remain “pending” for days despite they were withdrawn from your account. Who is taking benefit out of all this money from thousand of customers flowing around for days? Seems a very borderline practice that probably leads to overdraft situations to customers, so generating issues with your credit scores.
I was not able to activate new Compass Credit Card by phone because system didn’t recognize my social security number. But didn’t need card since I have credit cards from other banks. But in March 2019 it allowed Amazon to charge new Prime membership to 4 year expired card. I didn’t want to renew it Prime. So I was shocked to get a bill on expired card! I called bank & Amazon. No one could offer an explanation. Amazon more powerful than I thought and Compass more incompetent in handling on allowing charges to an expired card. Whole matter is outrageous!
Froze the cc for no reason. Told me to send proof of income, ID and residence via email. Still waiting. No way to contact them by email. Phone reps are pathetic. Still waiting to get reinstated after 4 weeks to no avail.
Compass Bank Company Information
- Company Name:
- Compass Bank