Published on October 11th, 2016 | by William Charles100
[Expired] [AZ, IA, IL, WI, CO, NM] Bank & Trust $500 Checking & Savings Promotion
This offer has expired, you can view more checking bonuses here.
Offer at a glance
- Maximum bonus amount: $500
- Availability: AZ, IA, IL, WI, CO, NM only
- Direct deposit required: Yes, three required no minimum specified
- Additional requirements: Yes, see below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: Waivable
- Early account termination fee: 90 days or bonus forfeit and $25 fee.
- Expiration date: December 31st, 2016
See below for direct link in eligiblity
- Open a new account with Bank & Trust and receive a bonus of up to $500, bonus is broken down as follows:
- Register for eStatements by March 31, 2017 to receive a $65.00 bonus
- Have a minimum of 45 debit card purchases post to your new checking account within 90 calendar days to receive a $135.00 bonus [Read: How to meet debit card transaction requirements]
- Have a minimum of three (3) direct deposits post to your new checking account within 90 calendar days of account opening to receive a $150.00 bonus
- Open a qualifying savings account within the promotional bonus period and maintain a $5000 average balance for 90 calendar days from the open date of the savings account to receive a $150.00 bonus
This deal seems to be available across a lot of different state specific ‘bank & trust’ brands. Here are the direct links:
- Arizona Bank & Trust (AZ)
- First Community Bank (IA, IL)
- Dubuque Bank & Trust (IA)
- Illinois Bank & Trust (IL)
- Wisconsin Bank & Trust (WI)
- Centennial Bank & Trust (CO)
- New Mexico Bank & Trust (NM)
The Fine Print
- Bonuses only apply when opening a new checking account during the promotional bonus period.
- The promotional bonus period is 10/1/2016-12/31/2016.
- If the account is closed by the customer within 90 calendar days after opening we will deduct bonuses received at closing. Closing the account will negate any unearned bonuses.
- A $25 account closing fee may also apply.
- Each bonus item is eligible for a maximum of one payment.
- All bonus dollars will be paid to the newly opened checking account.
- If multiple checking accounts are opened during the promotional bonus period under the same primary owner name, the bonuses will be paid to the account that was opened first.
- An IRS 1099 form may be issued.
- Register for eStatements by March 31, 2017 to receive a $65.00 bonus. The bonus will be paid within five (5) business days after you enroll in eStatements. Existing customers currently enrolled in eStatements will not qualify for the eStatement bonus.
- Have a minimum of 45 debit card purchases post to your new checking account within 90 calendar days to receive a $135.00 bonus. The bonus will be paid within five (5) business days after your 45th debit transaction posts.
- Have a minimum of three (3) direct deposits post to your new checking account within 90 calendar days of account opening to receive a $150.00 bonus. The bonus will be paid within five (5) business days after your third direct deposit posts.
- If multiple checking accounts are opened during the promotional bonus period under the same primary owner name during the promotional bonus period the direct deposit and debit card transaction requirements can occur on any of the new checking accounts.
- Open a qualifying savings account within the promotional bonus period and maintain a $5000 average balance for 90 calendar days from the open date of the savings account to receive a $150.00 bonus. Qualifying savings accounts under the same primary owner name, where available, include Regular Statement Savings, Passbook Savings, or High Yield Savings. The bonus will be paid to the checking account within five (5) business days after the savings account has been opened for 90 calendar days.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
You need to keep the accounts open for at least 90 days otherwise you’ll forfeit the bonus. There is also a $25 early account termination fee if you close within 90 days according to the fee schedule. The easiest checking account to keep fee free is the free checking account with eStatements, you just need to enroll in eStatements (required for $65 bonus anyway) to avoid the $2.5 fee.
They don’t publish the interest rates on the savings accounts but regular is fee free with $100 balance and passbok is fee free with $500 savings, high yield is free with $10,000 in savings (more than required for the bonus).
You need to provide your details for a banker to get back to you, but should be able to open in branch pretty easily. Because of the huge size of this bonus I think it’s worth the hassle of the bonus requirements, thankfully keeping the account fee free isn’t such an issue. We’ve added this to our list of the best checking and savings bonuses. They are also offering a $200 money market bonus, but that is only available to existing cardholders.
Please share your datapoints about this bonus 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
- 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