Offer at a glance
- Maximum bonus amount: $100
- Availability: Minnesota only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: None
- Hard/soft pull: Unknown
- Credit card funding: Unknown (don’t think you can based on their sign up form)
- Monthly fees: None
- Early account termination fee: 180 days, bonus forfeit
- Expiration date: December 31st, 2017
The Offer
- Open a new Family Banking Plan and Receive $25 in a Kids’ Starter Savings or Checking Account for your child! You’ll also receive a $100 bonus by adding a direct deposit (child not required).
The Fine Print
- Receive $25 credit to each new kid’s starter account opened (Investors Checking Plus Account or Green Savings Account). New accounts must be opened by Dec. 31, 2016 to receive credits
- To receive $100 credit, direct deposit is required with new Investors Checking Plus Account. After initial direct deposit, amount will be credited to your account within 30 days.
- If the account is closed within 180 days the penalty is equal to the bonus/credit
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The investor plus account doesn’t have any monthly fees, I assume the family banking plan is just a bundle of these investor plus accounts. You need to keep the account open for 180 days otherwise you will forfeit the bonus.
Our Verdict
Probably not an awful bonus if you have any children, hard to say without know if it’s a soft or hard pull to open. If you have any data points regarding this bank please let us know in the comments below. Otherwise check out the bank bonuses we do recommend.
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- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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- Complete List Of Ways To Close Bank Accounts At Each Bank
Offer extended. Now expires 12/31/17
You’re on a roll.
Looks like you have to mail a paper application. Seems like a hassle.
“Print the New Account Application below, fill it out, mail it, along with a copy of your driver’s license and a check for a minimum of $100, to:
American Investors Bank and Mortgage
6385 Old Shady Oak Rd, Ste 110
Eden Prairie, MN 55344
A banker will then call you to complete the account-opening process.”