[AZ, CO, IL, MO, IL, NE, OK, KS, TX] UMB Bank $150 Checking Bonus (+ $200 For Person Referring You)

Offer at a glance

Maximum bonus amount: $150
Availability: Branches are in Arizona, Colorado, Missouri, Illinois, Nebraska, Oklahoma, Texas and Kansas [All branch locations here]. Assume it’s a similar area restriction for this referral bonus
Direct deposit required: Yes, at least $250+
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $4, avoidable
Early account termination fee: $30, 90 days
Household limit: None listed
Expiration date: None listed

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

UMB Bank is letting some members refer new members and earn $200 for each member they refer that meets the requiremnets. The person being referred also receives a bonus of $150 when they open a new checking account and complete the following requirements:
- Open a UMB Select Checking, UMB Value Checking, or UMB Convenience Checking account through the Referral Center
- Enroll in UMB Online Banking, set up bill-pay, and make three (3) or more online bill payments; AND
- Receive one (1) direct deposit of at least $250 into the account; AND
- Complete six (6) or more UMB Visa® debit card transactions (excludes ATM withdrawals).

The Fine Print

I would recommend reading the full fine print here
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Convenience checking has a $4 monthly fee. This is waived if you do any of the following:

$500 average collected balance in this account
An automatic transfer of $50 or more from this account to a UMB checking, savings, or money market account or UMB loan obligation is made during each monthly service charge cycle
Online Banking transfer of $50 or more to a UMB checking, savings or money market account during each monthly service charge cycle
Online Banking transfer of $50 or more to pay a UMB loan obligation during each monthly service charge cycle

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee in the fee schedule. According to this comment there is a $30 fee if closed within 90 days

Our Verdict

The fine print regarding actually referring somebody is a bit confusing in my opinion. Still a bonus worth doing if you live in the area, especially if you’re able to refer a significant other as then it’s basically a $350 bonus. I will be adding this to our list of the best checking account bonuses.

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