Offer at a glance
- Maximum bonus amount: $200
- Availability: Wisconsin only
- Direct deposit required: Optional, ACH transfers should count as they are specifically mentioned
- Additional requirements: See below
- Hard/soft pull:Â Soft (according to the rep)
- Credit card funding: Unsure
- Monthly fees: $0-$10
- Early account termination fee:Â $20, 180 days
- Expiration date:Â April 8th, 2016
Contents
The Offer
- Receive a sign up bonus of $200 when you open any new checking account (excluding student checking) with First Bank Financial Center. You must complete one of the following requirements to receive the bonus:
- Have a recurring, monthly direct deposit credit (an ACH credit) in a single amount not less than $250 or
- five (5) signature based debit card transactions must post to the account within 45 days of account opening
The Fine Print
- If any owner or signer on the account has previously been an owner or signer on a different First Bank Financial Centre (FBFC) consumer checking account within the past three (3) years, FBFC reserves the right to deny this incentive
- Accounts with an FBFC employee as primary owner and Student Checking accounts are not eligible
- Applicable to Wisconsin residents only
- This offer cannot be combined with any other offer
- If the new account becomes overdrawn or is closed within the first 60 days, FBFC reserves the right to deny this incentive.
- The $200 cash reward will be deposited into the checking account within 60 days of account opening
- Postcard must be presented at account opening to receive the reward
- Expires April 8th, 2016
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Early Account Termination Fee $20
This account does come with an early account termination fee of $20 if you cancel it within the first 180 days of account opening.
Monthly Fees $0-$10
There are four different accounts and the monthly fees vary based on the account:
- Free checking: $0 month
- Value checking: $6 month, each debit card transaction lowers this by $0.25
- Premier checking: $10 a month, waived if $500 minimum daily balance
- Classic checking: $0 mont
Our Verdict
The fine print mentions that a postcard must be brought in, so there is a chance this is a targeted offer and you actually need to be targeted – but you can also apply by phone so I’d try that instead. This would be a pretty awesome deal if it’s confirmed to be a soft pull and open to everybody in Wisconsin (without a postcard). It doesn’t require a direct deposit, there are no monthly fees to worry about and it’s a bonus for $200. We’ll add it to the list of the best checking sign up bonuses once we get some more data points in the comments.
If anybody has any experience with this bonus, then please share it in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
Inquired about this bonus, was told by one rep that I needed to apply in person. A second rep added that the offer was only valid for people in their “local marketing areas,” giving credibility to the questions of whether this offer is targeted. I wasn’t willing to drive 70 miles to test the accuracy of the claim.
Chuck,
please update the expiration date.
Fixed, thanks.
Attempted to open by phone. They said I would need to come in to complete the application, was not given a mail/fax/email option.