Seems to still be available, but in branch only. More information here.
Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $500
- Availability: FL, PA, NJ
- Direct deposit required: Yes, $750+
- Additional requirements:
- Hard/soft pull: Soft pull
- ChexSystems: No
- Credit card funding: Up to $1,000
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: December 31, 2025
Contents
The Offer
- First Bank (Myfirstbank) is offering a $500 bonus when you open a new Basic or Relationship Checking Account and a Direct Deposit of $750 or more
The Fine Print
- To qualify for the $500.00 cash bonus, you must open a new Basic or First Bank Relationship Checking Account, make the required initial deposit of new-to-First Bank funds, and set up and receive one qualifying direct deposit of at least $750.00 within 60 days of account opening.
- Relationship Checking is a personal account with a minimum balance requirement of $1,000.00 to open the account.
- There is a service fee of $15.00 per month if the daily balance falls below $1,000.00.
- Funds transferred or withdrawn from an existing First Bank account and redeposited in the new checking account are not considered new-to-bank funds.
- A qualifying direct deposit for this offer is defined as a recurring direct deposit of a paycheck, pension, Social Security, or other regular monthly income which is electronically deposited by an employer or an outside agency.
- Your account must remain in good standing for 90 days after opening, at which time you will receive your $500.00 cash bonus deposited into your new checking account, paid by the last day of the month after the 90-day period.
- Account in good standing for this offer means that the account had a positive balance at all times during that period.
- Limit of one $500.00 cash bonus offer per Tax ID number.
- The value of the bonus is considered taxable income and will be reported on the appropriate IRS form.
- Please consult your tax advisor regarding your specific situation.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Basic checking has no monthly fee
Early Account Termination Fee
Our Verdict
Share your experiences in the comments below.
Hat tip to reader Bockrr
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- 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?
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