Posted by William Charles on December 1, 2018
Bank Account Bonuses

Published on December 1st, 2018 | by William Charles


[Cedar Rapids, IA only] BankersTrust $250 Business Checking Bonus

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Cedar Rapids, IA only
  • Direct deposit required: No
  • Additional requirements: Deposit $250
  • Hard/soft pull: Unknown 
  • ChexSystems: Unknown
  • Credit card funding: Yes, up to $10,000 (not sure if possible in branch)
  • Monthly fees: None?
  • Early account termination fee: $250, 12 months
  • Household limit: One
  • Expiration date: December 31st, 2018 March 31st, 2019

The Offer

Direct link to offer

  • BankersTrust is offering a bonus of $250 when you open a new checking account at either of the Cedar Rapids branches and complete the following requirements:
    • Open a primary (see definition in fine print) BreakFree Checking or primary Direct Checking Plus account in person at a branch.
    • Deposit at least $200 within the first 30 days of opening

The Fine Print

  • To be eligible for the bonus, you must open a primary BreakFree Checking or primary Direct Checking Plus account in person at a branch.
  • Annual Percentage Yield (APY) on Break Free Checking is 0.50% for balances less than $5,000.00 and 0.10% for balances $5,000.00 and over, effective June 15, 2018, and subject to change without notice.
  • No minimum balance required. Fees may reduce earnings.
  • A primary checking means the account in which you routinely deposit the majority of your income or benefits from any source and against which you routinely authorize payment of the majority of your expenses each calendar month.
  • To obtain the bonus, a deposit of at least $200 within the first 30 days of opening is required.
  • You will receive a $250 bonus credited to your account within 30 days of account opening, provided you have met the $200 deposit requirement.
  • Limit one bonus per household.
  • Accountholders must not have had a checking account with Bankers Trust in the last six months.
  • Early closing fee of $250 will be charged if your account is closed within 12 months of opening.
  • Employees of Bankers Trust and/or its affiliates are not eligible for bonus.
  • Offer available for a limited time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

I assume the BankFree account has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find a fee schedule, so I’m unsure if any early account termination fee is charged or not.

Our Verdict

Seems like a reasonable deal if you live near the branch. Deal becomes a lot better if you can somehow do that credit card funding, but I doubt it will be possible in branch and if it is it very well could code as cash advance. If anybody has any experiences, then please share them in the comments below.

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