Posted by William Charles on September 9, 2018
Bank Account Bonuses

Published on September 9th, 2018 | by William Charles


[FL, VA, NC and SC] Capital Bank $200 Checking Bonus

Capital Bank is the new name given to First Tennessee for those who live in FL, VA, NC and SC. For the data points (soft/hard pull/direct deposit etc) we have just listed the First Tennessee pages as they should be the same.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: FL, VA, NC and SC
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: Use promo code and open with at least $300
  • Hard/soft pull: Soft
  • ChexSystems: Yes, mixed dp on being sensitive
  • Credit card funding: Up to $300
  • Monthly fees: $7, avoidable
  • Early account termination fee: Account must be kept open for six months, or bonus forfeit
  • Household limit: One
  • Expiration date: October 31st, 2018 December 31st, 2018 February 28th, 2019

The Offer

Direct link to offer

  • Capital Bank (previously known as First Tennessee) are offering a bonus of $200 when you open a new checking account and complete the following requirements:
    • Use promo code DGCB20
    • Have an opening deposit of at least $300
    • Receive at least one direct deposit to your account within 60 days of account opening

The Fine Print

  • Offer expires October 31, 2018.
  • This offer is only available to residents of FL, VA, NC and SC. To receive your bonus, you must open the checking account online starting at this page and ensure the code DGCB20 appears in the online application where “Offer/Promo code” is requested, or open your account and present a copy of the offer at a Capital Bank branch.
  • You must have an opening deposit of at least $300, and at least one direct deposit must post to your account within 60 days of account opening.
  • Opening deposit cannot be transferred from existing Capital Bank accounts.
  • If you meet the stated requirements of this promotional offer, the $200 bonus will be credited to your account within 6 weeks of the first direct deposit and will be reported as income on Form 1099-INT.
  • Limit one bonus per household.
  • Cannot be combined with other checking offers.
  • This offer is for new checking households only.
  • Households who have a current consumer checking account or who have closed a consumer checking account in the past 12 months at either First Tennessee or Capital Bank are not eligible.
  • Customer agrees to maintain account in good standing for a minimum of six months. Account openings are subject to bank approval and may be declined based on certain factors.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Express Checking, $7 Monthly Fee

This is rebated if you have at least one direct deposit during the month.

Early Account Termination Fee

The fine print states that the account must be kept open and in good standing for 6 months. We can assume that they will take the bonus back if you don’t fulfill this requirement.

Our Verdict

Standard offer for First Tennessee has been $150 + $50 for a money market account. We have seen bigger offers of up to $300 but those are usually targeted and aren’t available in as many states. Really up to you if you want to try and wait for a better offer or just grab this one. This one is better than the $150 + $50 offer as no money market account is required. Personally I’d probably just grab this offer if you’ve already done the better offers in your state, if you haven’t do those first and hope a bigger offer comes along in the mean time.

Big thanks to reader, Gadget who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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Dan - Legal Bank Robber
Dan - Legal Bank Robber

Chex Sensitive 50+ in 9 months.

What does “Chex Sensitive 50+ in 9 months” mean?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Chex systems is a reporting agency and it tracks how many bank inquires you have. Chex sensitive means they won’t let you open an account with them.

Wait.. Have you opened 50+ accounts in 9 months?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Not all of them were opened some are multiple inquiries or denials. But yes I have opened right around 40-50 for bank bonus purposes. PJ

Wow! That’s dedication. Good for you Dan - Legal Bank Robber

Dan - Legal Bank Robber
Dan - Legal Bank Robber

I’m over $6500 in 9 months from this, it’s easy only a few have been in branch. My DD is easy to change Dosent require a paper check to be issued for first billing period or anything.

I am at $2900 last four months plus $1200 for player two. Do you mind posting which ones you hit up?

Which state do you have residency in that qualifies you for so many?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

NY but have not many in Ohio due to being in college

edit: I already answered it

Does anyone know if there is any minimum requirement for the direct deposit? I wonder if after making the $300 opening deposit, I can just maintain $1 balance in the account and transfer in $1 every month to qualify as a direct deposit.

Since it doesn’t specify the amount you should be okay. First Tennessee did not have a minimum DD. You just have to make sure you use a method that works as DD.

Do you know what banks counts as DD for this bank? Thanks!

I’m a Florida resident, but currently overseas for the next few months…

Does anyone who’s opened one of these First Tennessee aka Capital Bank know if they require a signature card to be physically mailed in?


I opened one from FL last year. No mention of SC that I can recall.

I just opened the account. It was approved the same day. I did not have to mail in a signature card. From Florida BTW

Also FL resident, I applied while on vacation outside the US and was declined. They said they automatically decline all applications from non-US IP addresses, but to reapply when back in US.

I just applied. Application is submitted – pending review. How long does it usually take?

Mine was approved the same day. i was surprised actually

It’s not really a new name given to First Tennessee in these states. First Tennessee acquired Capital Bank in Nov 2017. Capital Bank began operating in 2010 and quickly acquired TIB Bank that year. I am familiar with it because I remember my grandfather buying stock in TIB when I was teenager. TIB was originally The Islamorada Bank in the Florida Keys where my grandfather owned a vacation home. The bank headquarters was moved to Naples and they lost their a$$es in the real estate bubble.

Anyone know how strict they are on the “one per household”? is the requirement based on addresses?

How do we know that $300 is the maximum amount that can be funded by credit card? I read the offer and do not see that mentioned anywhere

If you input more than $300 and try to continue it defaults back to $300 before letting you continue

I japplied recently. $300 is the maximum they will allow for credit card funding. I tried doing a higher amount but the application only allowed $300 max.

I tried putting in a value greater than $300.00 and it tells me $300.00 is the max.

I called the main number and the branch and was told this is NOT for Capitol
Bank only for First Tennesee branches.

declined lame

but they sent me my Chexsystems score, which it’s my first time to ever see this. It says my Chexsystems score is 615. Is this very bad?

I’ve opened maybe 50 checking / savings accounts over the past 5 years.

I just got an email saying to ask the company that does their verifications. No score, also denied.

Weird, I have 23 new bank accounts this year alone and was approved. Got lucky I guess. Funded with $300 from a debit card, living in FL but the nearest branch is 1+ hr drive.

Approved. 15 new bank accounts in 2018 so far and 14 new accounts in 2017.

I wonder if we need to keep the $300 in there for any certain period of time , or if it’s possible to withdraw it immediately? I don’t see anything against it in the terms.

So what banks have you guys used to successfully make the direct deposit? Doesn’t seem to be any data on what works. I have Ally, Discover, Chase and TD Bank

I looked up what has worked for First Tennessee in the past and saw Discover and Chase has both worked so I’m trying those.

I’m attempting with CO 360

Pushed $500 from Chase and $500 from Ally in an attempt to hit DD requirements – I was hit with a monthly fee but it was reversed (likely because the account was still new). It doesn’t look like Ally or Chase will satisfy the DD requirement. Going to try Serve and PayPal next.

Pushed money from Discover and was hit with a monthly fee as well but it was reversed.

I was hit with the $7 fee too without doing anything yet. I’m going to attempt with CO 360.

Also got a $7 fee right when the account was opened and it was immediately reversed. Any data points on what capital bank considers DD?

People have been using First Tennesse DD DPs as a litmus test but it appears bank (ACH) transfers aren’t cutting it. Capital Bank may only accept employer, social security, pension, etc. (but this hasn’t been confirmed yet).

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