@Creditplz wrote:
I want to know if anyone has a BBVA checking account? They used to let you open a account with up to 5,000 on a credit card, is this still accurate?.
If you're referring to BBVA/Compass, I had a checking account with them up until a few years ago (2013).
I don't have any data points about using a credit card for the initial deposit, but I can say that they were going through some 'growing pains' when I decided to leave.
My main issue with them was they nerfed the main benefit I opened the account for (foreign ATM fee reimbursement) and the amount of time to clear a check would vary depending on the branch I deposited it at, even for a check drawn off Fidelity and for only $2000. I could deposit the check at the branch by my house and I would have all the funds the next day, while if I used the branch downtown by my office there seemed to be a hold (usually 3-5 days) nearly every time. Note that I had a perfect history with my account and it was old (10+ years) so there was no reason for an exceptional hold - it was just the policy at that branch (I was told).
From what I understand they now have automation in place to do this (like most banks have had for years), and it's no longer up to the individual branch to determine the hold time for deposits (meaning this is likely no longer an issue for anyone). While their accounts are now mostly average at best, I would have likely stayed with them anyway had this been the case a few years back.
In my local area it's easy to find a Compass Bank branch, but their accounts tend to be better for people with money; people who keep lower account balances can generally find a better deal at other banks. The same can be said for most of their credit products (with the obvious exception of their NBA Amex)... they are 'OK', but nothing to write home about.
I know your question was primarily about the opening deposit, and I'm sorry I didn't have a specific data point for that... hopefully somebody else will.
