The Offer
- First Horizon Bank is offering a bonus of up to $3,000 when you meet with a private client relationship manager and open a new private client reserve checking account and complete the following requirements:
- Within 45 calendar days, deposit a total of $100,000 or more in qualifying new money into any combination of:
- Private Client Reserve Checking
- Private Client Money Market Savings
- Starting the day after the 45-day funding window ends, keep your combined end-of-day ledger balance at or above your tier every day for 90 consecutive days.
- Within 90 days of account opening, enroll in direct deposit and receive at least two qualifying direct deposits during the same 90-day maintenance window.
- Within 45 calendar days, deposit a total of $100,000 or more in qualifying new money into any combination of:
- Tiers are as follows:
- Deposit & maintain $100,000 and earn a $1,000 bonus
- Deposit & maintain $250,000 and earn a $2,000 bonus
- Deposit & maintain $500,000 and earn a $3,000 bonus
The Fine Print
Private Clients must have a combination of $1,000,000 in income and investable assets and either $100,000 in consumer deposit balances with First Horizon or $500,000 with First Horizon Advisors^. Offer ends September 30, 2026.
- Receive $1,000 when you deposit $100k – $249,999k or more in new money deposits or
- $2,000 when you deposit $250k – $499,999k or more in new money deposits or
- $3,000 when you deposit $500k or more in new money deposits
How to earn:
- Open a new Private Client Reserve Checking with a Private Client Relationship Manager (online account opening not available).
- Within 45 days, deposit $100,000+ in new money into Private Client Reserve Checking and/or Private Client Money Market Savings. Cash bonus tier is set by total qualifying new money on day 45.
- Maintain a combined end-of-day ledger balance at or above your tier for 90 consecutive days, starting the day after the funding window ends. If balances drop below $100,000 on any day, no cash bonus; if you maintain a lower tier, you receive the lower-tier cash bonus.
- Enroll in direct deposit within 90 days and receive at least two qualifying ACH direct deposits to the checking account during the 90-day maintenance period. Qualifying direct deposits are ACH credits from your employer, payroll provider, or government/benefit provider.
- Cash bonus will be paid to your Private Client Reserve Checking within 10 business days after the maintenance period; account must be open and in good standing.
Promotional Jumbo CD:
- Promotional Jumbo CD: Clients may open a Promotional Jumbo CD before or during this offer without affecting eligibility. Opening any other personal consumer deposit account before qualifying checking will make you ineligible.
- Balances in any CD, including the Promotional Jumbo CD, do not count toward qualifying new money or the 90-day balance requirement.
- Holding or opening a Promotional Jumbo CD will not, by itself, make you ineligible under the “no personal deposit account in the last 18 months” rule and will not be treated as combining offers.
Eligibility and other terms:
- New clients only: no personal deposit account at First Horizon in the last 18 months (see Jumbo CD exception above).
- New money must come from a financial institution other than First Horizon Bank or any affiliate; transfers from existing First Horizon accounts do not qualify.
- Only Private Client Reserve Checking and Private Client Money Market Savings count toward this cash bonus. Business, fiduciary, CD (including Promotional Jumbo CD), IRA, and brokerage accounts are excluded from cash bonus offer.
- The primary owner on checking and savings must be the same person; only the primary owner is eligible. Limit one cash bonus per client and per household.
- Cash bonus reported as interest on IRS Form 1099 INT. Offer is non-transferable, subject to bank approval, and may be modified or ended at any time. Other terms are in the Bank Depositor Agreement.
Our Verdict
Looks like you need $1,000,000 in income and investable assets to even be eligible. Additionally only balances in the checking/money market account count for the $100,000/$250,000/$500,000 deposit that is required. Normal money market account from First Horizon earns 0.15% so unless this private client version is significantly better this isn’t remotely worth considering. First Horizon does have two bonuses that are worth considering:
- [LA, NY, SC, TX, TN, AR, MS, AL, GA, FL, NC & VA] First Horizon Bank $450 Checking + $250 Bonus
- $800 business checking bonus (currently expired)
Hat tip to reader Discover it Student
