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Offer at a glance
- Maximum bonus amount: $250
- Availability: all branches are in IL & FL [Branch locator] Update: Looks like you can open online as well
- Direct deposit required: $500 in one of the first two statement cycles
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $1,500
- Monthly fees: None
- Early account termination fee: Bonus forfeit if closed within six months
- Household limit: One
- Expiration date: July 31st, 2019
Contents
The Offer
- First American Bank is offering a bonus of $250 when you open a new everyday rewards checking account and complete the following requirements:
- Receive at least $500 in direct deposits during one of the first two statement periods
The Fine Print
- Open a new checking account between May 1 and July 31, 2019 and meet the transaction requirement.
- Account must have at least $500 in direct deposits from a paycheck, pension, or government benefit during one of the first two statement periods to receive a $250 cash bonus.
- The bonus will be paid to the account on the statement date for the statement period in which the direct deposit first appears.
- $100 minimum to open.
- One per household.
- Available to new checking account customers only.
- Not available for existing checking account customers or customers whose checking account was closed in the past 6 months.
- Limited to individual, joint, and trust accounts only.
- Legal entity and public funds accounts are not eligible.
- Bonus amount will be reported to the IRS as interest paid to you on IRS Form 1099-INT.
- If your account is closed within the first 6 months of opening, the bonus amount paid to the account will be debited from the account balance.
- See Schedule of Fees for Consumer Accounts for other account fees that may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
Account needs to be kept open for six months otherwise the bonus will be debited
Our Verdict
Need to know if it’s a hard or soft pull to open an account, if it’s a soft pull then I think this bonus is worth doing. As you need to open in branch you should be able to ask if it’s a hard or soft pull before opening. If anybody goes for it then please share your experiences in the comments below.
Hat tip to alphadogiii
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
This is back, sort of. In branch only now.
https://www.firstambank.com/en-US/Personal/Spend/Checking-Accounts/Relationship-Advantage-Program
Closed via SM. Took about a couple of hours to get a reply.
Expect a “courtesy call” from the online accts dept. after about month 3. They kept calling every week or so because I didn’t call them back, as they said it was not urgent. Had they came up on my caller ID as First American Bank I probably would have answered weeks ago.
They just wanted to know if i was able to access the account online, if everything was setup, and if I had any questions. Expect another call at 12th month, she said.
Opened the account yesterday after calling and confirming that the $250 bonus is still good until 7/31 (as long as you apply before it ends tomorrow).
Account was opened today by email and without a phone call as others have stated they received, and immediately after I verified the test deposits for the initial deposit (maybe others got the call when using a credit card to fund?).
Online access setup without a problem using the account number, SSN and DOB.
So far so good and now we’ll wait and see if in fact they do honor the bonus.
Forgot to add that I applied online from California so there are no state restrictions (and confirmed this when I called yesterday).
UPDATE: Bonus posted yesterday, made “real” DD on 9/1 after fake DD using Cash App on 8/1 didn’t work.
I’m from out of state. after applying the screen says “account opened”. but just like another person’s experience, I received a phone call an hour later asking if I had 10 minutes to answer some questions. she then proceeded to ask about the reason behind each of the inquiries in the past 8 months – I felt like I was being interrogated. she then said she had to ask her boss, and after a couple of minutes told me I had been approved.
Is there a new offer? Or, you just legit wanted an account? $1500 MS still a thing?
I know it comes off as an interrogation, but big picture, I think they just want to confirm you knew about banks. If you lied or didn’t know about the inquiry history, I bet call over – denied.
5/17 opened
5/28 debit card received
tried various dd from Chase, EBSB, Discover Bank, CapOne360, PNC, Alliant. None of these worked.
7/10 $6XX real DD
7/16 $250 bonus
only real DD work
@arizonapv, can you advise if there was a promo code when you did your application online?
Thanks
There wasn’t a promo code when I did my application online. There was a button on the page that said “Apply Now.” I clicked it and then the application opened.
Looney Tunes
Thanks. Did you get automatic approval or did you wait to get a call from them as others have indicated?
I received a phone call just like everyone else. @Looney Tunes
Question for you @arizonapv.
How did the banks you tried that didn’t work for the direct deposit differ from the way your real direct deposit showed up at First American? What did the transactions look like and what was different between the real and the fake (if you could determine it)
Thanks
I am fairly certain only a real DD works. Here is how a real DD looks:
XXSOC SEC PPD SSA TREAS 310
Phony ones look like this:
Ext TrnsfrPPD JPMorgan Chase
TRANSFER WEB EAST BOSTON SAVI–LAST FIRST
P2P WEB DISCOVER BANK–FIRST LAST
CAPITALONEPPD CAPITAL ONE N.A.
P2P WEB PNCBK CK WEBXFR–FIRST . LAS (truncated)
ONLINE WD PPD Alliant CU.
Interesting. I’m trying Cash App that should show this Friday but can change to my real DD should that not produce the bonus immediately.
They are a small bank so wonder if they manually review each entry.
Worth a shot to find out if this method also doesn’t work for an added DP.
Yes I’d be very interested if it works. Could you post what it looks like when it hits First Amer?
Will do.
Here’s the way Cash App shows up:
Cash AppCCD Square Inc
Different than the way yours posted but won’t know until the end of the month if it works or not.
Going to change over my real DD just in case and since that won’t get deposited until after my first statement, I’ll know for sure if the Cash App works or not.
Cash App doesn’t have P2P or PPD, but it has CCD. One good thing is that you will know fairly quickly if it worked.
When I asked when does the bonus post, they told me it would be near the statement date for that month. In my case that would be the 29th of this month.
When you say “fairly quickly”, how fast are you talking about? Days after the deposit posts?
By fairly quickly, I meant that you see it on the next statement, which I thought was fairly quick. It’s not like you have to wait 3 months or anything. So I threw everything I could for the first statement to see if anything would trigger it.
Got it.
@arizonapv, I just noticed that there is a little asterisk next to the description entry for Cash App that looks like this:
*Cash AppCCD Square Inc
Do you have that next to all of your entries? That’s the only entry I have right now so can’t compare it and there is no other reference on the page to indicate its meaning.
None of mine had an asterisk next to the description. I wonder what it means.
Guess I’ll wait until the initial deposit shows up Monday to compare entries then contact them.
I do have a screenshot and I saved the original terms. They were:
(1) Mobile Deposit is subject to eligibility requirements. Deposit limits and other restrictions apply. Visit firstambank.com/mobilebanking for complete details.
(2) Available to all Mastercard® debit card users with the exception of Health Savings Account customers. Look for the Allpoint and Presto! logos to ensure your transaction will be surcharge-free.
(3) Open a new checking account between May 1 and July 31, 2019 and meet the transaction requirement. Account must have at least $500 in direct deposits from a paycheck, pension, or government benefit during one of the first two statement periods to receive a $250 cash bonus. The bonus will be paid to the account on the statement date for the statement period in which the direct deposit first appears.
$100 minimum to open. One per household. Available to new checking account customers only. Not available for existing checking account customers or customers whose checking account was closed in the past 6 months. Limited to individual, joint, and trust accounts only. Legal entity and public funds accounts are not eligible. Bonus amount will be reported to the IRS as interest paid to you on IRS Form 1099-INT. If your account is closed within the first 6 months of opening, the bonus amount paid to the account will be debited from the account balance. See Schedule of Fees for Consumer Accounts for other account fees that may apply.
5/20 – Opened in-branch with $100 Cash
5/31 – Employer DD $500
6/14 – Employer DD $500
6/17 – Bonus Posted “$250 CHECKING’
5/14 Applied for “Free Checking”
5/15 Approved, online access established
5/31 Real DD $500+
6/10 Statement close, no bonus
6/15 SM sent requesting bonus (Saturday)
6/17 SM Response (Monday): “Thank you for your message. A review of the account shows that the $250.00 bonus was credited to the account today, 6/17/19.”
Online banking now shows “Checking Promo Bonus” $250.00″, so at least they were quick to fix it. Pretty sure they reviewed my account, posted it, then replied, but maybe it would have posted on it’s own.
FYI @guest_759077
arizonapv 
IS250 
JuicyJosh 
Mimi 
Dan - Legal Bank Robber
You gotta chill with the 9 email notifications
Gadget But thank you for the update
Yes, I got a bunch of email notifications too. Not sure why that happened. At least with my new gravatar/email address I am getting the notices and tags. The email even comes with a link for me to click directly to the message. That’s rather nice! I’m glad it all worked out for you Gadget.
I only listed you one time. Weird. Maybe a WordPress bug because I tagged you in the past?
Yeah, my real DD will happen next month, so we should both be getting the bonus. None of the fake ones worked. For August, I plan to change my DD again but this time to Aspiration, but first I emailed & asked if I had the promo attached to my account. If they say no I don’t, then I’m not switching my DD to them.
Surprised how quick this one was.
5/14/19 – applied
6/7/19 – real DD
6/10/19 – 15 amazon reloads
6/13/19 – $250
Service fee of 4.95 was charged and refunded. Will look into downgrading to free checking account this week.
Gadget @guest_759077
Why the hell would you do 15 Amazon reloads on this one? Lay off the crack!
My account type requires it to be fee free. Excuse me while I go count this bonus that posted to my account.
Yeah, me too. I thought what he said was funny and wanted to say how nice it was for him that he got his bonus automatically while Gadget had to go after it by sending a message. ha!
Not sure what counting needs to be done? It’s on the screen…. the computer already did the counting.
I like to withdraw it in one dollar bills. I then proceed to make it rain in my bathtub and then wallow around in it like a pig in mud. $250 is the minimum I need to not feel the cold, hard tub.
On that note. Im too many beers in to continue this conversation. George Washington and 249 of his friends are calling my name.
You would likely need to special order that amount of $1 bills at a bank. It’s easier to get hundo’s from the bank teller, then go to The Centerfold Lounge, Doll House, or Pinky’s Gentlemen’s Club and ask for change. Just tell my sister I sent ya!
Sent secured mail last night. They responded today and changed account type to Free Checking with no issues. Now im in the cool kids club with
Gadget . 
E0 , were you able to change it up?
I passed reading comprehension in 8th grade. So, I signed up for the free account. (That’s payback for the big head comment!)
On a serious note, never seen a bank not allow a switch… just don’t do it before bonus payout.
Well, it was a lot less painful than Suntrust where you have to confirm all this bs and confirm they are sending a new card with new terms, etc. Blah blah blah. Just gimmie my bonus and dont charge me with your free account.
Ah yes, because the Suntrust debit card says what level of prestige you are at, but I don’t recall it being a big deal to switch. I know M&T just sends new snail-mailed account terms, the ones that nobody reads.
I find it interesting some of these banks send a ton of snail-mail, while others, all you get is the glued paper with the debit card and maybe a PIN tear-here pouch. Obviously it doesn’t take much to amuse me.