Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $600
- Availability: AR, IL, KS, MO, OK, TN, TX
- Direct deposit required: Yes
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: March 31, 2025
Contents
The Offer
- Simmons Bank is offering a $600 bonus when you open a new checking account and complete the following requirements:
- Use promo code CTN
- enroll in Online Banking and access the Account via the Simmons Bank Mobile app or on our website at www.simmonsbank.com in the first statement cycles and again within ninety (90) days after the Account Opening Date.
- maintain the Account as open and in good standing (as determined by Simmons Bank) from the date the Account is assigned an account number (“Account Opening Date”) until the Bonus is awarded
- Fourth receive one (1) or more qualifying direct deposits in your Account during the statement cycle.1
- Fifth, meet all requirements for one of the following Bonus tiers during one (1) (or more) of the first four (4) statement cycles after the Account Opening Date. A maximum of three (3) Bonuses may be earned within the first four (4) statement cycles after the Account Opening Date.
- Tier 1 – Earn $200 for each statement cycle
- Maintain an average daily balance of $5,000 or more during the statement cycle.
- Tier 2 – Earn $100 for each statement cycle
- Maintain an average daily balance of $2,500 or more during the statement cycle.
- Tier 3 – Earn $50 for each statement cycle
- Maintain an average daily balance of $1,000 or more during the statement cycle.
- Tier 1 – Earn $200 for each statement cycle
The Fine Print
- Eligible Customers who open a new Simmons Bank Classic Checking, Coin Checking, or Simply Checking account (an “Account”) online or at an eligible branch between October 1, 2024 and March 31, 2025, and complete qualifying activities will receive up to three (3) cash bonuses (each a “Bonus”) (not more than one (1) per statement cycle), of up to a total of $600 credited to the Account.
- “Eligible Customers” (1) are at least eighteen (18) years old; (2) must furnish or have a valid Form W-9 on file with Simmons Bank and may not be subject to backup withholding; (3) may not have an existing Simmons Bank consumer checking account and may not have had an open Simmons Bank consumer checking account in the twelve (12) months prior to Account opening; and (4) must have received a specified promo code (by mail, email, phone or otherwise) and use the promo code at Account opening.
The Account must be opened at an eligible branch or online using the specified promo code. View a list of eligible branches or open the Account online at http://www.simmonsbank.com/cash-offer-ctn. - All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Simply checking has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find any mention of one in the fee schedule.
Our Verdict
Not nearly as good as the $900 bonus that was previously offered unfortunately.
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?
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- Bank Bonus Posting Times
Only $300
Received 2 of 3 $200 bonus deposits so far.
3/20 – deposit 6500 Ally push
4/14 – real DD $25
4/20 – $200 bonus
4/29 – real DD $25
5/19 – $200 bonus
Got on here to see if anybody knows if the DD requirement has a minimum amount? I had it pretty high to get to the 5k average daily balance as quick as I could, but now would like to reduce it. Description above just says:
“receive one (1) or more qualifying direct deposits in your Account during the statement cycle”
I don’t know if that means you just need one, and as long as all the other requirements are met, that’s all you need – or – if you need one per month. And IF you need one per month, then I don’t know if there’s a minimum?
Been working for me. Two of the three $200 deposits have posted. Much better online banking experience than I was anticipating, and pretty good customer service messaging. Wasn’t expecting much from what I think is a regional bank, but pleasantly surprised.
I’d like to share my unbelievable, crazy experience with this bank.
Frist I tried to apply online and found it needed my chex unfreezing. So I went to the branch at Gunter, TX 75058 to see if I could avoid being inquired on Chex. And it turned out Chex unfreezing was necessary.
And when I mentioned the promotion offer, the banker told me it was only for some certain group of people. (I’m not a native speaker so I didn’t quite understand what kind of group she said, it seemed like a club or company name) She also confirmed with her manager and told me she couldn’t apply the code to my account. But the promotion page didn’t mention that specific eligibility requirement at all, but the banker told me the promotion page was wrong….(really?) So I called twice Simmons bank customer service for verification, the first representative was very indifferent and refused to explained the promotion detail and jut let me listen to the branch banker. The later representative was willing to communicate with the Gunter branch to see the “true” requirements of this promotion offer. After a long waiting time, the manager told me on phone that she gave me an “exception” and applied the code to my account.
After some time, I called and chatted with the customer agents to see if the code was applied. Unexpectedly come representatives said they didn’t have the access to check if my account had applied a code, and the only one who could check it was the branch where I opened my account. And some online agents just let me wait and wait…
After waiting 20 days, I fed up with all these fooling and left an message that I would complain to the CFPB. Finally I got a response the next day notifying that the code had been applied to my account.
I can’t believe I had to go through that. This is the most ragtag bank I‘ve ever seen.
chase biz pay (with Payroll in addendum) works as dd
Applied on 2025-03-21 (Friday). It went to pending.
It’s 2025-03-31, and I still haven’t heard of anything yet.
Finally approved after they forgot/missed the application until 2025-04-03 (pass the expiration). asked and confirm i’m still good for the promo. Let’s see.
I followed the link to offer, and opened my account today. But, I did not recall there was a step to input the promo code CTN . Did I miss something?
3/11/25 Deposit $5,000
3/12/25 $50 Real DD
3/19/25 RELATIONSHIPRWDS CASH BACK $100
Not sure why I only received $100
I think it needed to be 5001. That’s what I did and got the first 200 in full. I seen another person that did the same as you and got the 100. Next month you will get the 200 since you will be over 5000.
I did 5001, but still got $100 for the 1st month
Average daily balance for the statement cycle needs to be $5000K plus. Sounds like you waited too long to get the money in there and your average daily balance was below the threshold. Gotta be careful with banks that have those requirements.
unfortunately, the only problem was that it starts from day 1. I had $5002 on day 2 but it average out to be $4700. So, you needed similar to $5.5k or $6k for the first few days before lowering it.
oh well.
Simmons is a pain to work with. They’ve shorted me by $100 on one month’s bonus, in violation of their own terms. I’ve contested via secure messaging and with a regional manager both to no avail. Not complaining about $500 in bonuses already received, but still be careful dealing with them.
1/6/25 Pushed 5001 via Fidelity
1/17/25 Bi-weeky 25.00 Real DD-On-going
2/4/25 200 Bonus
2/19/25 200 Bonus
3/19/25 200 Bonus
Texas Resident
hello, I didn’t save the promotion page and the link is expired now. According to your dp, making a total of at least $5k direct deposit, and keeping the daily balance above or equal to $5k for three consecutive cycles, can get a $200 bonus from each cycle?
or only a dd of any amount for every cyele, and keep the daily balance above $5k for three consecutive cycles?