Consumer Money Market Relationship Pricing Disclosure

Effective as of November 20, 2020, this disclosure explains how Relationship Pricing will be applied to your account once your account is eligible for the initial Relationship Review. Together with your account opening disclosures, these constitute the full terms and conditions of your new money market account. This disclosure is applicable only for BBVA Money Market and Global Wealth Money Market products.

Your relationship with BBVA will then be reviewed at the end of each calendar month* for the application of Relationship Pricing. At that time, the interest rate and Annual Percentage Yield (APY) applied to your account will be determined based on the Relationship Base Rate Chart, the Total Deposit Balance Rate Component chart and the Additional Relationship Rate Component chart (your “Relationship Rate”). Your Relationship Rate will be determined by adding the applicable Relationship Base Rate and the Rate Components together.  Please see Relationship Review disclosure below for more information.

Each Annual Percentage Yield (APY) presented in the charts below is current as of November 20, 2020. APY and interest rates are variable and subject to change at any time at our discretion.  We may change any Rate Component at any time, which means your interest rate and APY may change.  To obtain current rate information, call 1-844-BBVA USA, go to a local BBVA branch or visit bbvausa.com.

 

Relationship Base Rate Chart

 

 

Relationship Pricing Components:

Total Deposit Balance Rate Component: Your Total Deposit Balance is determined by adding the Posted Balance in your consumer checking, consumer savings, consumer money market and CD accounts with the Bank at the time of relationship review.  Accounts and relationships will be reviewed at the end of each calendar month.  See Relationship Review disclosure below for additional information. For money market accounts with multiple account holders, please note Joint Account disclosure below.

 

Additional Relationship Rate Component: Relationships eligible for the Additional Relationship Rate Component include:

  • Checking Account Component: If you have a BBVA checking account with a minimum end of month Posted Balance of $10,000.00. 
  • Direct Deposit Component:  If you have three or more Qualifying Direct Deposits totaling at least $15,000 in the last three months (each direct deposit must be at least $1,000). Direct Deposit may be to BBVA Consumer Checking, Consumer Savings or Consumer Money Market Account. Please see Qualifying Direct Deposit disclosure below.   
  • Qualifying Consumer Lending Component: If you have one or more active Consumer loans or Consumer lines of credit with a total end of month outstanding balance of at least $10,000.00.  Not all loans qualify; please see Qualifying Loans disclosure below.

Accounts and relationships will be reviewed at the end of each month.  See Relationship Review disclosure below.  For money market accounts with multiple account holders, please note Joint Account disclosure below.


*Relationship Review: Accounts and balances are reviewed on the last calendar day of each month to determine your Total Balance Rate Component and Additional Relationship Rate Component. Any Relationship Rate changes will be made on the 20th calendar day after your relationship is reviewed.  When the 20th day falls on a non-Business Day, changes to your Relationship Rate will be made on the next Business Day.  For accounts opened without a promotional rate, your relationship will be reviewed at the end of the calendar month that your account is opened.  For accounts opened with a promotional rate, your relationship will be reviewed at the end of the promotional period based on your relationship at the end of the most recent month. If your promotional period ends on or after the 20th of the month you will be evaluated in the following month. Note:  Accounts opened through a third party but held at BBVA USA (e.g. Simple accounts) will not be included in the relationship review.  

Joint Accounts: For money market accounts with multiple account holders (joint accounts), accounts that include at least the same account holders as the money market account will be included in the Total Deposit Balance Rate Component and Additional Relationship Rate Component.  For example, Customer X and Customer Y are account holders on the money market account.   Customer X has a checking account with the bank, but he is the sole account holder.  Customer Y has a savings account with the bank but he is the sole account holder. Customer X and Y have a CD account where they are joint account holders. The CD account balance would be included in the rate calculation.  The checking account balance and the savings account balance would not be included.  All account holders of the money market account must also be an account holder of the other deposit/loan accounts in order for the balance to be included in the rate calculation. 

Qualifying Direct Deposit: A qualifying direct deposit is a recurring paycheck, pension or government benefits (such as Social Security) deposit from your employer or the government into a checking, savings or money market account at the bank. The following deposits are not qualifying direct deposits: interest payments or transfers from your investment accounts; payments received from payment apps such as PayPal, Venmo and other similar payment service providers; tax refunds or other one time payments from the government. 

Qualifying Loans: Qualifying loans are consumer loans and consumer lines of credit, except for overdraft protection lines of credit (ODP LOC).  

 

Rev.  11/2020