What to expect from your BBVA USA account

On May 8, 2021, servicing for all Simple Accounts will be transitioned to BBVA USA. You’ll have the same bank account and routing numbers, and the same debit card.

Your new account will have many of the same features of your Simple Account, but there are some differences (like online bill pay for checking accounts!). Check out the charts below for an overview of what’s changing for checking accounts, Protected Goals Accounts, and personal loans. You’ll also have new terms and conditions for your bank account(s), which you can find here.

Checking Accounts

Simple Checking Account BBVA Simple Checking Account
Monthly service charge $0 $0
Online and Mobile Banking Yes: $0 Yes: $0
Built-in budgeting tools Goals, Expenses and Safe-to-Spend® Suite of Financial Tools
Online bill pay No Yes: $0
Paper statements Not available $3 per statement cycle. This fee can be avoided by turning off paper statements and receiving statements electronically through BBVA Online Banking.
Overdrafts Not allowed $32 per item
Insufficient funds (NSF) Not allowed $32 per item
Overdraft protection available No Yes, Learn more about overdraft solutions here.
In-network ATM fee $0 $0, Includes Allpoint® Network & BBVA USA ATMs
Out-of-network ATM fee* $0 $3
Paper checks $5 per book Varies
Statement cycle Monthly Monthly
Debit card replacement fee $0 $5 ($10 for Personalized Debit Card)
Incoming wire transfer fee $0 $15 domestic, $10 international
Outgoing wire transfer fee Not available $30 domestic, $55 international

*ATM and/or service fees charged by other banks and ATM owners may also apply.

Simple Shared Checking Accounts will become joint BBVA Simple Checking Accounts, with the same features listed above.

Interest-bearing accounts

Simple Protected Goals Account
BBVA Simple Savings Account
APY1 0.20% 0.10%
Interest payment frequency Monthly Monthly
Monthly service charge $0 $0
Statement cycle Monthly Monthly
Overdrafts Not allowed $32 per item
Insufficient funds (NSF) Not allowed $32 per item
Incoming wire transfer fee $0 $15 domestic, $10 international
Outgoing wire transfer fee Not available $30 domestic, $55 international
ATM deposits & withdrawals Not available Yes (when debit card is linked to a checking account)
Paper statements Not available $3 per statement cycle2
Account type High-interest checking Savings
Excess transaction fees Not applicable $3. Fee is charged for each withdrawal over 4 per statement cycle3
Withdrawal limits Unlimited 6 per statement cycle4

Simple Shared Protected Goals Accounts will become joint BBVA Simple Savings Accounts, with the same features listed above.

1 APY means annual percentage yield. The rates are effective as of March 25, 2021, are variable and are subject to change after the account is opened. For Simple Protected Goals Accounts, all balance tiers earn 0.20% APY. For the BBVA Simple Savings Account, all balances earn 0.10% APY. Fees may reduce earnings on the account.

2 When your account transitions to BBVA, you can avoid the Paper Statement Fee by turning off your paper statements and receiving your account statements electronically through Online Banking.

3 Withdrawal transactions of any type in excess of the Excess Transaction Fee limit will be subject to a fee.

4 Certain withdrawal transactions from savings accounts may result in the account being reclassified as non-interest bearing if limits are exceeded. The following withdrawal transaction types are limited to six (6) per month: transfers to another deposit account with BBVA or to a third party by means of a pre-authorized agreement, telephone request, check, debit card, draft or similar order (including Online Banking transfers and sweep transfers from a savings account). There is no limit on the number of withdrawal transactions from such accounts when made in person at a BBVA banking office or at an ATM.

Personal Loans

Servicing for Simple Personal Loans is already handled by BBVA USA; there will be no changes to the terms of personal loans.

Questions about the transition?

Take a look at our transition FAQ—we’ll update it regularly with new information as it becomes available. You might also want to check out BBVA USA’s website to learn more about their services.

Important! This account is for your personal use only

An increasing number of customers are being targeted by fraud scams. Before you apply, review these guidelines to help prevent you from being involved in fraudulent activity.

Do not open an account on behalf of someone else
If anyone asks you to open a Simple Account to receive funds, it is an attempt at fraud. Common fraud attempts include requesting that you open an account to receive a gift or bonus offer, obtain a job or job training, or help someone else receive funds (such as unemployment benefits).

Do not share your login or account information with anyone
Neither Simple nor any other legitimate institution will ever ask for your account information. If any third party requests your Simple Account login information, it is an attempt at fraud. Sharing your account information with another person or allowing someone else to use your account to receive funds is a violation of the Simple Deposit Account Agreement terms and conditions and can expose you to fraud.

Actions we may take if fraud is suspected

We take fraud and security very seriously at Simple, and take rapid action in the instance of suspected fraud attempts.

We may freeze and close accounts
We may freeze and close accounts if fraudulent activity is suspected, including the following circumstances:

We will report fraud attempts
We are responsible for reporting fraud attempts to authorities, including attempted unemployment fraud. There are state and federal penalties for unemployment insurance fraud (including potential fines and incarceration). If you suspect you are a victim of unemployment fraud, contact the appropriate state fraud hotline listed here.

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