[Expired] [CA, IL, MO] First Bank $300 Checking Bonus

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

The Offer

Direct link to 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