Offer at a glance
- Maximum bonus amount: $275
- Availability: In branch at Collierville, TN only
- Direct deposit required: Yes, full pay needed for full bonus
- Additional requirements: 15 debit card transactions + be referred
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: Unknown
- Early account termination fee: Unknown
- Expiration date: November 30th, 2016
The Offer
- Open a new checking account at the new First South Financial branch in Collierville and receive a sign up bonus of $200 when you:
- Open account with at least $50
- Make at least 15 debit card purchases within the first 60 days of account opening [Read: How To Meet Minimum Debit & Credit Transaction Requirements]
- You can also get an additional $50 for receiving a direct deposit of the full amount of your net pay or benefits
- You’ll get another $25 if you are referred by an existing customer, feel free to share your referrals in the comments
- Also they are offering a 10% APY CD, limit of $1,000
The Fine Print
- $200 bonus will be paid 30 days after the account qualifies
- Account must be opened at our Collierville banking center
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Normally there is a $10 membership fee to join, this is being waived. I can’t seem to work out if there are any monthly fees on the standard checking account, looks like there is but a low monthly minimum is required. Also don’t know about any early account termination fees.
Our Verdict
This is a great bonus if you live near the branch and it’s a soft pull, you can get $200 off it without a direct deposit and there is also the nice 10% APY CD ($100 in interest, although you might be able to get $50 in interest by using another high interest checking account). If anybody decides to complete this offer, please share your experiences and data points 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
