Posted by William Charles on January 9, 2020
Checking Accounts

Published on January 9th, 2020 | by William Charles

162

[AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV] BB&T $600 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $600
  • Availability: AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV
  • Direct deposit required: Optional
  • Additional requirements:
  • Hard/soft pull: Soft pull It seems like they are very persistent about overdraft protection so make sure you don’t opt in for that
  • ChexSystems: Yes
  • Credit card funding: Up to $250 (says debit card only, but credit cards will work)
  • Monthly fees: $30
  • Early account termination fee: $25, 180 days
  • Household limit: One
  • Expiration date: February 26th, 2020

The Offer

Direct link to offer

  • BB&T is offering a bonus of $600 when you open a new BB&T Elite Gold checking account and use the promo code BADGG and complete one of the following requirements:
    • Deposit $35,000 within 30 days of account opening and maintain the minimum balance of $35,000 for 75 days OR
    • Set up and receive direct deposits totaling $3,000 or more within 75 days of account opening

The Fine Print

  • Offer is available for new BB&T clients who open a BB&T retail checking account.
  • “BB&T will review the account between 75-90 days of account opening. The $600 bonus will be deposited into your new Elite Gold account within four weeks of the account eligibility review.”
  • Normal minimum opening balance requirements apply.
  • Offer is limited to one incentive per household and does not apply to second or multiple personal accounts.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This bonus requires the Elite gold checking account. You can avoid the monthly fee on this account if you meet any of the following requirements:

  • $25,000 combined deposit balance in checking, savings, CDs, IRAs, Money Rate Savings, Investor’s Deposit Account, or investments through BB&T Investment Services, Inc.
  • $25,000 combined outstanding balance in retail loans and lines of credit3
  • $150,000 BB&T personal mortgage loan balance

In PA & NJ the requirement is only $15,000 in combined deposit balances. Monthly fee is also only $15 in NJ.

Early Account Termination Fee

All accounts come with a $25 early account closure fee if you close them within 180 days of account opening. In addition accounts must be open at the time of bonus posting

Our Verdict

Technically I think these are supposed to be targeted, but in the past they have worked for everybody. Last time we saw an elite checking offer the bonus was $400, but requirements were easy to meet.  It didn’t really matter that the requirements were easier though as you still needed big balances to keep the account fee free. You’ll need to basically tie up $25,000 for 180 days to trigger the bonus and keep the account fee free and avoid the early account termination fee, works out to be a return of 4.8%. Might be able to do better and just close the account after the bonus posts and pay the $25 early closing fee. I’ll be adding this to our list of the best checking account bonuses.

Hat tip to reader S C

Useful posts regarding bank bonuses:



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danny
danny

damn i blew my BB&T load a few years ago. brand new customers only 🙁

AKJohnny
AKJohnny

lets hope Truist bank resets the new customer requirement 🙂

HoKo
HoKo

How do they define new customer? I didn’t see any language regarding who is considered a new customer (i.e. never had an account with BB&T, haven’t had an account for 12 months or longer, etc.)

Ben
Ben

It’s got a 12-month restriction. Someone posted the terms on here

Ben
Ben

It’s actually not for new customers only, it’s got the 12-month restriction. https://www.doctorofcredit.com/al-dc-fl-ga-in-ky-md-nc-nj-oh-pa-sc-tn-tx-va-wv-bbt-600-checking-bonus/#comment-871825

HoKo
HoKo

Thanks ben!

Mr Blonde
Mr Blonde

From my experience they do not charge the ETF fee if your account is 0’d out and you send a secure message to close it. Makes this pretty sweet, but maybe it sours your relationship with them Idk

Brandon
Brandon

How quickly have BB&T’s bonuses paid out in the past?

Jenny
Jenny

75 days since opening in my last experience

Brad
Brad

DP for last year

Open: 3/10/19
Req Met: 3/19/19
Bonus Expected: 7/8/19
Bonus Post: 6/5/19

Eric
Eric

If you need to keep the money in for 75 days how did you meet the requirement 9 days after opening?

Ken
Ken

“Set up and receive direct deposits totaling $3,000 or more within 75 days of account opening”

Novacat05
Novacat05

Sloww, took 10 weeks after I satisfied terms for a bonus with them last year.

Chris
Chris

Can BB&T accounts be churned? If I received a bonus last year can I do this one?

Thanks

Ben
Ben

It appears that can be churned. Someone posted the terms and conditions in a comment here and it states the normal 12-month language

Mark
Mark

Can you downgrade to a low fee checking account after you get the bonus?

ERIC RICHARDSON
ERIC RICHARDSON

I would like to know this as well. I could do the DD but a $30/month fee for six months makes this not nearly as interesting…Id jump on it though if I could downgrade.

david
david

Typo saying you only need to keep the balance for 7 days. @William Charles

Harry
Harry

William Charles I only see the promotion is available to only new account holders, condition did not mention anything related to old account holders. I closed my BBT checking account on 01/02/2020, will I be qualified for the bonus if I open account now?

IS250
IS250

If anyone has the offer, does the fine print say when the bonus will be posted once requirements are met?

Adam
Adam

“BB&T will review the account between 75-90 days of account opening. The $600 bonus will be deposited into your new Elite Gold account within four weeks of the account eligibility review.”

IS250
IS250

Thanks.

Mel

Does anyone know is ACH payment counts as direct deposit?

Sam Y.
Sam Y.
flv
flv

it should say “maintain the minimum balance of $35,000 for 75 days”

Post mentions 7 days 🙂

Eric
Eric

That’s a huge difference. Before I saw your comment I was excited about possibly earning 89% APY on the deal.

Ken
Ken

duplicate…

Eric
Eric

I don’t follow your comment. I only posted that comment once…

Ken
Ken

I posted the duplicate and there’s no way to delete comments.

IS250
IS250

For those asking about churning – past DP’s have shown 1 year since closing out your last account. YMMV.

bax
bax

Any grace period bringing the balance to 25k to waive tge monthly fee?

Ben
Ben

A newer comment than yours mentioned they did a chat with the representative and they were told 30 days of fee-free.

Zorn
Zorn

Do they waive fees for X number of months if you don’t meet the balance requirements? If they waive 3 months of fees it might be worth doing.

Eric
Eric

Why would that be helpful if you need to keep the money in for 75 days for the bonus anyway?

Ken
Ken

Just do DD instead.

“Set up and receive direct deposits totaling $3,000 or more within 75 days of account opening”

Eric
Eric

Not everyone has a legit DD. Even if a “fake” DD worked in the past it can stop working at any time.

Ken
Ken

That’s why you do more than one ACH and cross your fingers if it’s the only available option for you. It’s why I have so many bank accounts in hopes that one will work, and one has always worked.

Eric
Eric

Yes, that is a good move IF DD is the only option for a bonus. Since there is another option here I (and probably others) would prefer to do the sure way.

Ken
Ken

I’d prefer to earn interest on that $35k elsewhere instead of parking it. That’s $73 in lost interest by parking it instead of just doing ACHs that are known to work. Of course, this would only be viable if they do grace months till they begin charging the monthly fee. It’s your money and risk tolerance though, so do what’s best for you.

Eric
Eric

How are you only losing $73 in interest? That means you would put the money in only a 1% account. Is that correct or did you miscalculate it?

I agree it is tempting to try for the DD offer. The issue is by the time you are sure it works for people it would be too late to deposit the $35K. Now if you don’t have access to $35K cash (which I’m guessing most people don’t) trying the DD route makes a lot of sense.

Ken
Ken

The $73 is per month in a 2.5% account. Sorry, should’ve clarified.

I’ve never had my basket of account ACHs not count, so I’m willing to take that risk that it will work this time too. WF worked to trigger the bonus last year for me so that’s a great start.

Eric
Eric

What account do you use that is 2.5%?

I actually just opened a WF account recently so I could try that if I decide to go that route.

Ken
Ken

Northern Bank, but they closed off the 2.5% account for new applicants.

JP
JP

I’m leaning towards churning the bonus. There is household limit but seems like that’s one per offer code. I don’t think it means lifetime restriction of one per household. Will have to see if anyone has dp from prior bonuses.

JennyJ
JennyJ

The direct link to offer makes no mention of $600 bonus. I was wondering whether it worked for everyone.

Eric
Eric

You’re correct. What proof do we have (besides the letter in this post not addressed to any of us) to show BB&B if the $600 doesn’t post?

Xcapiby
Xcapiby

Did you enter the promo code BADGG?

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