[Expired][Targeted] Commerce Bank $300 Checking Bonus – Direct Deposit Optional [MO, KS, IL, OK & CO]

This deal has expired, view more Commerce Bank deals by clicking here.

Update 10/7/18: Offer has been extended through October 25th. Updated the link below. (HT reader fastlanesimmons). Keep in mind this time it doesn’t show a promo code and says you need to use the one from the mailer you received, so likely targeted.

Warning: People with a lot of ChexSystems inquiries have previously been approved and then had their accounts closed at a later date. Read previous posts for more data points. This deal is public whereas older deals have been targeted so it’s possible things have changed

Offer at a glance

• Maximum bonus amount: $300
• Availability: Missouri, Kansas, Illinois, Oklahoma and Colorado
• Direct deposit required: Optional
• Additional requirements: Direct deposit or 10 debit purchases
• Hard/soft pull: Soft pull
• ChexSystems: Yes, sensitive
• Credit card funding: None
• Monthly fees: $20, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: September 15th, 2018 October 25, 2018

The Offer

Direct link to offer

• Commerce Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
  • Use promo code DIGITAL300 (? – new link doesn’t show any promo code, here’s the old link for comparison)
  • Do one of the following:
    • Have at least two direct deposits of any any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $300 or more within 90 days of account opening
    • Use your debit card to make 10 purchases within 90 days of account opening
  • You must have a minimum balance of $100 on December 14th, 2018

The Fine Print

• There are 2 options to qualify for the $300 incentive: 1) have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $300 or more, each electronically deposited into your new CommerceRelationship Checking account from an employer or outside agency within 90 days of account opening. We reserve the right to verify documentation that the direct deposits qualify. 2) Use your debit card to make 10 purchases from your new CommerceRelationship Checking account within 90 days of account opening.
• Additional requirements to qualify for the incentive: 1) Your CommerceRelationship Checking account must be opened by September 15, 2018; 2) The account must have a minimum balance of $100 on December 14, 2018; 3) You must provide the promo code from this offer at the time of account opening. 4) You must be a new customer: one who has not owned a Commerce Bank deposit account in the 90 days prior to account opening.
• We will determine whether all requirements for the incentive have been met as of December 14, 2018, and any incentive earned will be paid January 2, 2019, by crediting your CommerceRelationship Checking account. Maximum total incentive $300.
• The incentive will be reported as interest to the IRS. Commerce Bank reserves the right to determine eligibility for offer, and offer may be revoked, restricted, or changed at any time at Commerce Bank’s sole discretion.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The $20 monthly fee on this account is waived if  you have:

• $5,000 average daily balance in this account OR
• $15,000 in combined deposit balances

Early Account Termination Fee

According to this comment no early termination fee is charged. Keep in mind the account needs to be kept open until December 14th and have a balance of at least $100 at that stage.

Our Verdict

Previous offers didn’t have a public promo code, in addition this has been advertised on Facebook so it should definitely be publicly available. This is obviously a great bonus, nice and big with no direct deposit required. Keeping the account fee free is a bit of a pain as it does required a $5,000 average daily balance but if you can float the funds then it is worth doing. Just keep in mind that they might be ChexSystems sensitive (and close accounts after a few days). This will be getting added to our list of the best checking bonuses.

Big thanks to reader, adp5x7 who let us know. Learn how to find bonuses and contribute to the site here.

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