Posted by William Charles on May 4, 2018
Bank Account Bonuses

Published on May 4th, 2018 | by William Charles

13

[FL, IN, KY, OH & TN] Republic Bank $200 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: FL, IN, KY, OH & TN only
  • Direct deposit required: Yes, $100+
  • Additional requirements:
  • Hard/soft pull: Hard
  • ChexSystems: Unknown
  • Credit card funding: Up to $500 online, not sure if possible in branch
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: December 31st, 2018 December 31st, 2019

The Offer

Direct link to offer

  • Republic Bank is offering a bonus of $200 when you open a new checking account with the promo code LX1/LX2. Bonus is broken down as follows:
    • $100 for receiving a direct deposit of at least $100 before the end of the third full statement cycle
    • $100 for completing at least 50 point of sale debit card transactions

The Fine Print

  • Offer expires 12/31/2018.
  • Offer available for new accounts only (excludes account conversions).
  • All cash bonuses earned will be automatically deposited into the account on the first business day of the statement cycle following the statement on which the qualifying activity appeared and are reportable as interest on a 1099-INT.
  • $100 cash bonus earned for receipt of direct deposit (an ACH credit transaction, such as payroll or other automatic transfer into your account) of at least $100 to your checking account, provided that the direct deposit occurs between the day the account is opened and the end of the third full statement cycle.
  • $100 cash bonus earned if a total of 50 or more point-of-sale (POS) transactions are processed from the time the account is opened until the end of the third full statement cycle. This does not include transactions conducted through an ATM.
  • Not valid with any other offer.
  • Offer subject to change. Offer valid with flyer / promo codes only. Some restrictions apply.
  • Valid identification required.
  • Savings Accounts are not eligible.
  • The following checking account types cannot be opened online. To apply for one of these checking account types please visit your local Republic Bank banking center: Easy Interest (Florida), Advantage Checking (Florida, Northern Kentucky, Ohio, Tennessee), Simple Access (Kentucky, Northern Kentucky, Tennessee, Ohio, Indiana, Florida), Military Honors (Kentucky, Northern Kentucky, Tennessee, Ohio, Indiana, Florida).
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easy checking account has no monthly fees to worry about. I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Unfortunately the hard pull on this account kills the deal. Previously the best bonus they have offered is a $100 bonus offered to both parties. Either way we won’t be adding this to the best checking bonuses due to that hard pull.

Big thanks to reader, Matt & Kelly C who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Duke I.
Duke I.

Not available in South FL.

Unfortunately, the product or service you selected is not available in this zip code. Please check the zip code to be sure it was entered correctly.

Matt B
Matt B

Anyone know if this would be open to memory bank account holders? Republic bank owns memory bank.

Max
Max

good question.. since most people , including me, have a Memory Bank account now.. if you find out.. please share

Katie
Katie

Just got a phone call from Republic (required for application approval). Those of us who have a Memory bank account are definitely disqualified from this bonus.

MarcoPolo
MarcoPolo

I guess there are many separate banks called “Republic Bank”.
I have one where I live but they never have any promotions.

projectx
projectx

The hard pull is no good but the 50 debit transactions just to get the last $200 is what really made this a hard pass for me.

projectx
projectx

Edit: last $100

Peter
Peter

Yeah I got the mailer today and it was looking pretty good, then I saw that.

Andrew
Andrew

reload amazon balance 50 times with 50 cents. that is how I do all my debit purchases

Katie
Katie

Doesn’t “point of sale transactions” exclude online purchases like Amazon reloads? If I’m wrong about that, I’ll reconsider doing this one.

Andrew
Andrew

what does it mean hard pull? hard pull on chex system or hard pull on credit score?

C Doc Fan
C Doc Fan

Received hard pull from TransUnion.

They required Signature Card, Copy of License, and Proof of address* to be Emailed to them to open the account.

*Proof of address was required for me since address on License is different than my mailing address.

A lot of work for a $200 bonus. I guess they did a good job of making a competitive offer while not making it “too easy.” I wouldn’t have done this offer if they didn’t seem like a bank I genuinely want to try out. (external transfers, nearby branch, etc.) In fact, I probably would not have done it if I had thought more about the hard pull.

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