Secured Credit Card Savings Account

Account Disclosure - Colorado

The Secured Credit Card Savings account serves as collateral for a Compass Bank Secured Credit Card account, and may be opened only in connection with the establishment of a Secured Credit Card Account.

Review Account Disclosures for a different state:
Account Opening and Usage
Minimum deposit needed to open account $500  
Quarterly Service Charge $0 No quarterly Service Charge but other fees may apply.
Account Withdrawals   No withdrawals are allowed as long as the Secured Credit Card Account remains open or any amount is owed on the Secured Credit Card Account.
Does the account earn interest? Yes Interest is earned on the entire account balance. For additional interest rate and interest calculation information, see the account disclosures and Relationship Summary Form.
How often will statement be available? Quarterly  
Quarterly Paper Statement Fee $0  
Insufficient (NSF) Funds Charge- Returned Item $38 For each returned item presented against insufficient funds
Deposit Item Returned Fee $10 For each item that you deposit that is rejected by the payor bank ($25 for foreign items)
Early Account Closing Fee $25 If account closed within 180 days of opening
Other Service Fees   Please consult your account disclosure for a list of additional service fees, including the Paper Statement Fee
Transaction Limits
Federal law governs withdrawal transactions from this account. And if transactions exceed limits, the account could be reclassified as non-interest bearing. Federal law limits transfers to another deposit account with BBVA Compass or to a third party to a total of 6 per month. These transfers include: preauthorized agreement, telephone request, check, check card, draft including Online Banking transfers and sweep transfers. There is no withdrawal limit from this account when made in person at a BBVA Compass banking office or at an ATM. Inter-Account Transfers are considered withdrawal transactions subject to these federal transaction limitations. Withdrawal transactions subject to Excess Transaction Fees described above and in your account disclosure.
Processing Policies
Posting Order
The order in which withdrawals and deposits are processed
We process and post transactions - both credits (including deposits) and debits - throughout the day. This approach allows us to more closely match the posting of transactions on your account with the timing of your actual account activity.
Note: Deposits received and posted late in the day will not cover payments and withdrawals posted earlier the same day.
Summary of Our Deposit
Hold Policy

This is a summary and generally applies when deposit amount is less than $5,000 - absent a deposit hold. See the Consumer Deposit Account Agreement, Funds Availability Disclosure, for a detailed description of our deposit hold policy.
  • Cash deposit with teller or at ATM - Same business day as the day of deposit
  • Direct Deposit/wire transfer - Same business day as the day of deposit
  • Check deposit with teller or at ATM - same business day as the day of deposit
  • If something causes a longer hold on a deposit listed above, the first $200 of that deposit will generally be made available the same business day as the day of deposit
  • Mobile Deposit - Within 5 business days or less. Date displayed in mobile application.
A "business day" is a non-holiday weekday. At branches, business days end at closing time. At ATMs, business days end no earlier than 8:30 p.m.
Dispute Resolution
Dispute Resolution Agreement If a dispute arises between us, you or we may require that it be resolved through arbitration, rather than through jury trial. Please see the arbitration and waiver of jury trial provisions in your Consumer Deposit Account Agreement for additional details.


Full Terms & Conditions

ACCOUNT OPENING AND MAINTENANCE
Minimum Opening Deposit $500
Quarterly Service Charge $0
No quarterly Service Charge but other fees may apply.
Statement Cycle Quarterly
Paper Statement Fee $0
Early Account Closing Fee $25

The Early Account Closing Fee is assessed when a new account is closed within 180 days of opening.

HOW INTEREST IS EARNED ON YOUR ACCOUNT
The daily balance method is used to calculate the interest on the account. This method applies a daily periodic rate to the daily collected balance in the account each day. For tiered rate accounts other than BBVA Compass ClearChoice Interest Checking, the rate corresponding to your daily Collected Balance will be applied to your entire daily Collected Balance. Interest on deposits begins to accrue no later than the business day on which we receive credit for the deposit. Accrued interest that is credited to the balance in the account on the first business day of the following statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle. If you close your account or convert your account to a non-interest earning account before accrued interest, if any, is credited, you will not receive the accrued interest. For BBVA Compass ClearChoice Interest Checking accounts, we pay the stated interest rate only on that portion of the balance within the applicable tier. Unless the account balance is within the first tier, the same rate will not be applied to the full account balance. A taxpayer identification number will be required to earn interest on these accounts.
Collected Balance is your account balance minus any funds you have deposited that have not been collected from the financial institution on which the deposited funds are drawn.

The following chart shows the annual percentage yield and interest rate effective as of May 1, 2017. Interest rates and the annual percentage yield are variable and at our discretion, we may change the interest rate and annual percentage yield for your account at any time. Interest rates may change prior to funding and any interest being earned. To obtain current rate information, call 1-800-COMPASS or visit www.bbvacompass.com.

Secured Credit Card Savings Rate
Interest Rate 0.050%
Annual Percentage Yield
0.05%
TRANSACTION LIMITS FOR SAVINGS AND MONEY MARKET ACCOUNTS
Federal law governs withdrawal transactions from this account. And if transactions exceed limits, the account could be reclassified as non-interest bearing. Federal law limits transfers to another deposit account with BBVA Compass or to a third party to a total of 6 per month. These transfers include: preauthorized agreement, telephone request, check, check card, draft including Online Banking transfers and sweep transfers. There is no withdrawal limit from this account when made in person at a BBVA Compass banking office or at an ATM. Inter-Account Transfers are considered withdrawal transactions subject to these federal transaction limitations. Withdrawal transactions subject to Excess Transaction Fees described above and in your account disclosure.
 
OVERDRAFT / INSUFFICIENT FUNDS FEES
Insufficient Funds Charge (NSF) - Returned Item $38 per item

The NSF charges described above are applied for processing items presented for payment against insufficient funds (NSF) with a maximum of six (6) charges per day. These charges are imposed on items created by check, in-person withdrawal, ATM withdrawal, Check Card transaction, or other electronic means.


DEPOSIT FEES
Deposit Item Returned $10 per item
Deposit Item Returned (Foreign) $25 per item
Deposit Item Re-run $7 per item
OTHER STATEMENT FEES
Online Statement No additional charge (Online Banking is Required)
Statement Upgrade Fee (Image Statement Fee) $5 per statement cycle
Special Statement $5 per statement cycle

A special statement may include, but not be exclusive to the following: daily statements, duplicate statements, hold statements and statement printouts.

WIRE TRANSFER FEES
Domestic:
- Incoming (Customer) $15
International:
- Incoming (Customer) $15
Confirmation:
- Fax/Email $3
- Mail/Phone $5
MISCELLANEOUS FEES
Cash Handling Fees:
- Rolled Coin $0.10 per roll
- Strapped Currency $0.20 per strap
- Bank Bags (Zipper) $5 per bag
- Bank Bags (Locked) $20 per bag
Collection Items (all fees are per item):
- Incoming $20
- Outgoing $20
- Non-Customer $25
- Bond Coupon $5
- International $20 plus costs
Deposit Fees:
- Deposit Correction Fee $2.50 per item
- Deposits to Closed Accounts $25.00 per deposit
Legal Fees:
- Garnishments, Levies, Court Orders $150 plus attorney fees
Reconcilement/Research Fees:
- Reconcile Statement $25 per hour
- Research $25 per hour
- Copy of Fax $3 per page
TELEPHONE BANKING FEES
Staff-Assisted Call (over 5/month) $1 per call over 5 in a month
ONLINE AND MOBILE BANKING FEES
Online Banking No additional charge
Online and Mobile Bill Pay No additional charge
Mobile Banking No additional charge

Message and data rates may apply - check with your wireless provider.

 

Applicable Fees and Service Charges

Your account will be subject to the terms and conditions, including all fees and service charges, applicable to BBVA Compass accounts in the state where we maintain your account. For purposes of this disclosure, your account will be deemed to be maintained in the state where you opened your account. Your account is considered to have been opened: if you opened your account by mail, at the location where the mail was received by us; or if you opened your account electronically (including by telephone) and your address is in a state where we have branch offices, in the state of your address at the time you opened your account; or if otherwise, in Alabama.

For additional terms governing your account, please consult the Consumer Deposit Account Agreement.

NOTE: The above noted fees and service charges are not set bank–wide. These prices are driven by the competition in your local market.

AS REQUIRED BY FEDERAL LAW, BBVA COMPASS RESERVES THE RIGHT TO REQUIRE AT LEAST SEVEN (7) DAYS NOTICE PRIOR TO WITHDRAWAL OR TRANSFER OF FUNDS FROM THIS ACCOUNT.


 

Rev. 05/2017