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is the cofounder of LessAccounting, loves his family more than breathing and builds weird lamps for fun.

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Compass BBVA Small Business Banking

Compass BBVA Background

BBVA Compass, one of the 25 largest U.S. banks (based on deposit market share), operates throughout the Sunbelt region. It operated 688 branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. It ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). In addition, BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders.

Its three checking accounts for small business customers

  1. BBVA Compass ClearConnect for Business
  2. BBVA Compass ClearChoice for Business
  3. BBVA Compass ClearChoice Premium for Business

All checking accounts require a $100 minimum opening deposit and offer free transaction items per month ranging from five (ClearConnect) to 250 (ClearChoice) to 500 (Premium).

Cash processing allowances range from $5000 per month (ClearConnect) through $10,000 (ClearChoice) to $25,000 (Premium). ClearConnect has no monthly maintenance fee; ClearChoice’s is $15, and Premium’s is $25. There are different options on the latter two accounts for avoiding monthly maintenance charges.

The latter offers one free wire transfer per month, and fees vary for wire transfers on the other two account types.

A range of merchant services are “powered” by FirstData. They encompass remote deposits, online banking, bulk reward cards, online payroll, and include, among other things, a Visa Payroll Card program for employees.

Images of cleared checks are available online for 400 days. Online statements are available 16 months.

One of the nicest features of BBVA Compass’s web site, which is very user friendly, is the detailed FAQs for various types of service. They are detailed and, in simple terms, explain services thoroughly.

Customer Review

“I think it’s great how Compass explains everything so well on their web site." -Tim J.