Update 1/12/23: Bonus has been increased to $250 on both accounts + bonus points. Spend requirement is now $200 instead of $100. Valid until 2/15/23 now.
Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â Must be a resident of DE, MD, NJ, PA
- Direct deposit required:Â No
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Unknown
- Credit card funding:Â Â Can fund at least $500 with a credit card
- Monthly fees:Â Yes, $10 or $25 monthly fee (avoidable)
- Early account termination fee:Â $25, 1 year
- Household limit:Â One
- Expiration date:Â December 31, 2020
Contents
The Offer
- Firstrust Bank is offering a bonus of $250 + 5,000 points when you open a FirstPaySM account or $250 + 10,000 points FirstPaySM Premier Eagles Checking and complete the following requirements:
- Make a purchase of $200 or more
The Fine Print
- Bonus points will be paid to all new FirstPaySM and FirstPaySM Premier Eagles Checking accounts opened from 10/16/2020 to 12/31/2020. FirstPaySM Eagles checking customers will receive 15,000 bonus points. FirstPaySM Premier Eagles checking will receive 20,000 bonus points.
- Limit 1 per household.
- Bonus points may be redeemed for advertised gift card value. I.e. every 5,000 bonus points can be redeemed for $50 gift card.
- New customers will be eligible after first Visa® purchase of $100 or more is made within 60 days of new account opening. Bonus will be paid within 60 days of purchase.
- Points can be redeemed through scorecardrewards.com. Points will be eligible to be redeemed for gift cards 60 days after new account opening. Card must be registered to redeem.
- Offer can be withdrawn at any time without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
FirstPay Checking Account
To avoid monthly maintenance fee ($10), account is required to have one of the following each month: $500 minimum daily balance, monthly direct deposit, 10 debit card purchases or 5 online bill payments.
FirstPay Premier Checking
To avoid monthly maintenance fee ($25), account is required to have one of the following maintain $5,000 combined balance in deposits accounts or have $50,000 in consumer loans and lines of credit balances.
Early Account Termination Fee
There is an early account termination fee of $25 if closed within a year.
Our Verdict
We’ve previously seen a $276 checking bonus, that required a direct deposit but was easier to keep fee free (same requirements as the current $150 bonus). This offer might be worth considering for those that don’t like to worry about meeting the direct deposit requirement, otherwise it could make sense to wait for a bigger offer to return. We will add this to our best bank account bonus page.
Hat tip to Novacat05
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
Post history:
- Update 7/15/22: Deal is back to $150/$200 and valid until 03/31/2023.
- Update 5/12/21: Deal has been reduced to $50/$100.
- Update 1/31/21: Deal has been extended until May 31, 2021. Hat tip to reader Vlad
Jesus christ I dint realize DOC would fuck my formatting this bad, apologies but I have no idea how to fix it. So I signed up when they were only offering the bonus points. Walmart MO triggered the bonus which posted the next day. Points are redeemed through a 3rd party service called scorecard rewards. I was not able to sign up for this service until my points posted, so if your getting errors you might just have to wait until you have some points. Heres the cost of some of the items we all might be interested in. Apologies for formatting, im not sure if DOC Supports excel tables. Item Cost CPP $25 ACH Cash Back 3600 0.69 $50 ACH Cash Back 6500 0.77 $75 ACH Cash Back 9500 0.79 $100 ACH Cash Back 12400 0.81 $25 Stockpile GC 3000 0.83 Most $50 GC’s 5500 0.91 Most $100 GC’s 10800 0.93 There is also a “$50 Live event code” reward for only 800 points, almost certainly a pricing error. The website kinda sucks and Im not sure how much markup they charge, so YMMV on what your able to get out of that. Terms also state redemptions are limited to 1 code per purchase. The code is redeemed on another 3rd party website.
Thanks, I think I will take the extra $25 ACH and be done with it.
Of course I signed up mere days before the cash offer went live. Heres to hoping they will match
Update: CSR was not able to match new bonus
I could open an account. I got a congratulations email from the bank. But when I click a link in the email to setup online banking account, it shows up an error.
When I go directly to the bank website and tried to set up online bank account, it also shows up an error.
So I could open a bank account, but I cannot set up online account.
I met the same error. I called them and the rep helped me set it up manually. He contacted the technical team and then asked me whether he can use my information to manually set it up. The whole process was about 15 mins, during which he asked me for some personal information and my answers to short quiz questions like the Chex system. Finally, the online access was set up.
I called and they told me that I need to visit a local branch to complete setting up online account….
Can it be cumulative purchases totaling $200 or like 10 of $20 purchases?
Or does it need to be a single purchase of $200 or more?
I’m guessing loading $200 on Cash App would not qualify for the spend requirement?
People tried cashapp and venmo last year and it did not trigger the bonus. Seems like a walmart money order would be the easiest/cheapest route.
can anyone comment on this bank’s chex sensitivity? Only DP I could find was a reddit comment from 3+ years ago
Not Chex Sensitive. I was denied an account at another bank last month for Chex, and I was approved immediately here at 20+/24. Having trouble logging in after approval and my Citi DC was used for funding successfully though
Household limit: One
one at a time or one per address?
Opened while they offered an additional $100 cash SUB on top of the 20k points.
Easily spent $100 using the debit card and got the 20k points that I used to redeem for $150 in Amazon and the leftover 30k went towards some other thing since $50 GCs are like 5500 points, and the earn rate is an abysmal 1 points/4$ spent (effectively 0.25%).
Got the $100 cash SUB about 1.5 months after account open.
Looks like it is $200/250 in gift cards now. Based on John and Dizzy’s reports not sure it is worth the effort though