Offer at a glance
- Maximum bonus amount: $100 bonus for referrer & and referee
- Availability: FL, IN, KY, OH & TN only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Use referral coupon
- 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: None listed
The Offer
Direct link to offer (seems to be different versions, this one is for KY/IN/OH/TN – not sure where the FL version is)
- Republic Bank is offering a bonus of $100 for both parties when you refer a friend. Person referring you needs to complete the coupon and then give it to you, then person receiving the referral needs to open any personal or business checking account when you complete the following requirements:
- Receive a direct deposit
The Fine Print
- You will receive a deposit of $100 in your active Republic Bank checking account the first business day after your next statement cycle.
- The person you referred will have $100 deposited upon receipt of the first direct deposit into their new Republic Bank account on the first business day after the first statement cycle.
- Referring party must be an existing customer of Republic Bank and maintain an active personal or business checking account in good standing at the Bank.
- The person that is being referred must open a personal or business checking account and have not previously held an account with Republic Bank.
- To obtain the bonus, the new personal checking accounts opened must have a direct deposit (an ACH credit or other automatic transfer) of at least $50 by the end of third full statement cycle of new account; new business checking accounts must have any type of deposit of at least $50 by the third statement cycle of the new account.
- All cash bonuses will be deposited into account on the first business day of the statement cycle following the statement on which the qualifying activity appeared.
- The new account bonus cannot be used in conjunction with any other discounts or bonus offers.
- Minimum opening deposit for personal checking is $50; minimum opening deposit for business checking is $100.
- Savings accounts are not eligible.
- Offer subject to change without notice.
- Bonuses are reportable on 1099-INT.
- This program may be modified or canceled at any time without notice to either party. Accounts for which an employee is a signer (Business & Personal Accounts) are not eligible
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
Not worth considering due to the hard pull if you ask me. Better to stick with a credit card sign up bonus instead as you don’t have to pay any taxes on those and it’s easy to get more than $100/$200 in value. Because of that this won’t be added to the best checking bonuses.
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