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
- 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.
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
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.
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
Was on hold for 2+ hours to activate my debit card (had to reset my temporary PIN). Asked rep to confirm GETCHECK promo. Rep said $250 direct deposit each month. Not sure if this is only related to my account or all First bank accounts, but the rep said my cycle starts from the 3rd of the month to 3 business days before the end of the month. So for March, my cycle is March 3 – 29. The 15 debit card transactions are per cycle too but can be any amount. Rep said they have seen members checkout at grocery stores 1 item at a time. Hope that helps.
Tried to close account via chat but they responded with:
“”To close the account, you can visit any First Bank location, mail a notarized letter to your branch requesting the account to be closed or call the number below and a representative will be happy to assist you. Video verification may be required when calling to close the account”
Video verification? Anyone else close their account?
UPDATE: Was able to close the account over the phone without video verification!
Transferred in $250 from both Elements checking and Fidelity Cash Management on 11/22/22 and 12/1/22, respectively, and did the 15 debit purchases (Cash App reloads), all within the first 90 days. No bonus yet, but still doing the reloads to keep the account fee-free. Anyone else get their bonus yet if opened around mid-November?
P1 & P2 opened 11/18 & 11/26. $250 ACH push from Fidelity for each account. No bonus.
Saw a DP of someone opening an account on 12/7 and used real DD and received bonus on 3/6.
Applied on 2/27 and approved on 3/3. Had to upload driver’s license, paystub, and SSN card. Then had to verify 2 micro deposits to be approved.
Applied online this weekend and immediately approved.
3 in 3 months
8 in 6 months
11 in 12 months
Applied online 2,25,23. Declined per email message today.
Same here, applied online 2/25/23 and app was declined via email today.
Do you get the option to add the promo code after they say if you’re approved or denied?
I see the promo code section on the first page next to “First Performance Checking – Limit One Per Person” there is a link for “Add Promo Code”. Not sure if you can add the promo code after applying, you might need to call in to have them manually add the promo code to your account.
I missed the spot for adding the promo code so I emailed them and they said first I have to verify microdeposits and then they can add the code. When I emailed after the microdeposits they confirmed by return email that they added the code.
Why does the title still say $300? Isn’t this a $100 bonus?
Edit: nvm here are terms
*Requirements for the $300 Bonus: 1) Open a First Performance Checking account online with the promo code GETCHECK (see image above of where to enter the promo code); 2) Bonus offer is available on a new checking relationship (meaning the person opening the account online has not been a primary owner of a First Bank checking or Money Market account in the 12 months prior to the account opening date); 3) The account must have a minimum opening deposit of $100; 4) 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. Bonus offer is available through March 31, 2023. If all of the requirements have been met, and the account is open, the $300 Bonus will be credited to the account within 30 calendar days after the 90-calendar day anniversary of the account. Bonus will be reported as interest to the IRS. First Bank reserves the right to determine eligibility for offer, and offer may be changed or discontinued at any time without notice at First Bank’s sole discretion. This Bonus offer is limited to one per person, and it cannot be combined with any other offer.
Landing page for the offer has an updated end date of 3/31/23.
William Charles Chuck
I think the monthly fee is waived with 5 debit card purchase.
“Avoid paying the $15.00 monthly maintenance fee when you have 5 or more debit card purchases during a monthly Qualification Period*.”
I never saw where to enter the promo code. Kept pressing continue and checking each page but never saw it.
It’s at the Product Selection screen, I think 2nd screen after you click on opening account from the main page.