BBVA Compass Bank offers up to $150 worth of checking account bonus when you open a new checking account with them. This money in the bank deal is available in the states of Texas Florida, New Mexico, Colorado, Arizona, and Alabama.

The checking account bonus program allows a new account holder to earn the first $75 by using the Online Bill Pay system. The next $75 requires a direct deposit. If you are interested, you must open a checking account with the bank by February 28, 2010.

Here is how you should go about this best checking account promo to earn the online bill payment $75 bonus:

• Open a Compass checking account and register for Online Bill Pay on or before February 28.2010
• For the first 3 months after account opening, pay a minimum of 5 bills online every month
• Basically you get $25 for each month you use the system to pay your bills up to a total of $75

Take note of the fine prints. Online payments of your bills must be made to a 3rd party and should be $25 at least to be qualified for the checking account bonus. Each $25-part of the bonus will be deposited to your checking account within 3 months after your fifth qualified online bills payment of every month.

The other $75 for Payroll Direct Deposit can be achieved this way:

• Upon opening of the checking account (by February 28) you should also sign up for the Payroll Direct Deposit
• Set up the first direct deposit to your checking account within the first month upon opening
• The $75 bonus will be credited to your account within 4 months after the first recurring set direct deposit

This checking account requires an opening fund of at least $25. It is also limited to new checking account households. With regard to the bonuses, the bank limits a max of $150 per bonus or 1 individual per household participating in the promotion. The checking account bonuses are usually paid every last banking day of the month. You will also be required to income tax reporting.

Although the bank has opened a branch in California, they still do not offer this checking account bonus in that state since they haven’t transitioned over the operations of the acquired Guaranty Bank. If you are from California and want to check out this deal, it might be worth a phone call to the bank.

Also take note that before, Compass has been known to make hard credit pulls when you open an account. BBVA Compass is indexed by the FDIC and covered through certificate number 19048.