Deal has ended, view more bank account bonuses by clicking here.
No end date listed
Update 4/12/23: Extended to 6/30/23
Update 2/25/23: Deal is back and valid until 3/31/23. Hat tip to reader Vanson
Offer at a glance
- Maximum bonus amount: $300
- Availability: CA, IL, MO
- Direct deposit required: Yes, $250+
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $15, avoidable
- Early account termination fee: $25, 180 days
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- First Bank is offering a bonus of $100 when you open a new First Performance checking account and complete the following requirements:
- Use promo code GETCHECK
- 90 calendar days after account opening, the account must have the First Performance Checking account status of a “Qualifying Account”, meaning that during the most recent Qualification Period, the account had 15 or more debit card purchases and a single Direct Deposit of $250 or more post to the account.
- Terms are a bit unclear so to make clearer: To qualify for the bonus, at least $250 in direct deposits and 15 debit swipes must be made in the last full statement period at the 90th calendar-day anniversary
The Fine Print
- 100 account opening cash bonus will be credited to the First Performance Checking account within 30 days of posting initial direct deposit.
- Bonus will be reported as interest credited to the Checking account.
- Bonus $100 offer expires 45 days after the interest rate effective date shown above.
- Limit one First Performance Checking per person.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is a $15 monthly fee. This is waived if you have a direct deposit of $250+ and 15 debit card transactions. Need to opt into eStatements as well.
Early Account Termination Fee
There is a $25 fee when account closed within 180 days of account opening.
Our Verdict
Seems difficult to keep fee free for a bonus of only $100, so probably not worth doing for most people. Because of that I won’t add this to the best bank bonus page. The upside to this account is that if you meet the account requirements you’ll earn 3% APY on balances up to $25,000.
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
