Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â All branches are in AL
- Direct deposit required: Yes, two direct deposits
- Additional requirements:Â 5 debit card transactions and online banking
- Hard/soft pull:Â Unknown
- ChexSystems:Â Unknown
- Credit card funding: Up to $500
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â One
- Expiration date:Â None
Contents
The Offer
- Bank Independent is a bonus of $200 bonus when they open a new checking account and complete the following requirements:
- Have at least two recurring ACH direct deposits posted to your new personal or business checking account within 60 days of account opening
- Maintain the account in good standing for 60 days from account opening
The Fine Print
- One per customer or household.
- To earn the $200 bonus, you have at least two recurring ACH direct deposits posted to your new personal or business checking account within 60 days of account opening.
- To receive the bonus, code should be given to relationship banker at account opening or entered into appropriate field if opened online.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not.
Our Verdict
Better than the previous $150 business bonus that was offered. It looks like account opening works out of state, but unsure if the bonus will post. Also says you need to enter a code but doesn’t provide one?
Hat tip to Smurfit
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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