This checking bonus has expired and is no longer available. Click here for a list of the best checking bonuses.
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â Seems to be in branch only. They have locations in GA [Branch locator]
- Direct deposit required:Â Yes, $500+ for six months for checking bonus
- Additional requirements:Â See below
- Hard/soft pull:Â Hard Pull/Report of soft pull
- ChexSystems: Unknown
- Credit card funding:Â Up to $10,000o
- Monthly fees:Â None
- Early account termination fee:Â Six months, bonus forfeit
- Household limit:Â None mentioned
- Expiration date:Â December 31st, 2017
The Offer
- Cornerstone Bank is offering up to $350 when you open a checking and money market account.
- Get $100 when you open a new cornerstone checking account and complete the following requirements:
- Deposit $500 or more at account opening
- Have your monthly direct deposit of at least $500 made to this account within 60 days of account opening. This must continue for a minimum of six months
- Sign up for online banking and execute three bill pay transactions each statement credit
- Get a $200 bonus when you open a new money market account (APY of 0.30%) and complete the following requirements:
- Deposit $10,000 at account opening
- Maintain a balance of at least $10,000 for six months
- Get $100 when you open a new cornerstone checking account and complete the following requirements:
The Fine Print
- $100/$250 Bonus Account Information: Checking offer is not available to existing Cornerstone checking customers and money market offer is not available to existing Cornerstone money market customers.
- Offer not available to those with fiduciary accounts, or those whose accounts have been closed within 180 days or closed with a negative balance.
- To receive the $100 checking bonus: 1) Open a new Cornerstone Checking account, which is subject to approval; AND 2) Deposit $500 or more in new money at account opening; AND 3) Have your monthly direct deposit made to this account within 60 days of account opening. Your direct deposit must be at least $500 and needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government and must continue for a minimum of six months; AND 4) you must sign up for online banking and execute three (3) bill pay transactions each statement cycle. After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 30 business days.
- To receive the $250 money market bonus: 1) Open a new Cornerstone Money Market account, which is subject to approval; AND 2) Deposit $10,000 or more in new money at account opening; AND 3) Maintain at least a $10,000 balance for six months from the date of deposit. The new money cannot be funds held by Cornerstone or its affiliates. After you have completed all the above money market requirements, we’ll deposit the bonus in your new account within 30
business days. The Annual Percentage Yield (APY), for the Cornerstone Money Market account effective as of 09/25/2017, is 0.30% for all balances. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account. - You can receive only one new checking and one new money market account opening related bonus each calendar year and only one bonus per account.
- Bonuses are considered interest and will be reported on IRS Form 1099-INT.
Avoiding Fees
The savings & checking accounts both have no monthly fees to worry about. You do forfeit the bonus if the accounts are closed within six months though.
Our Verdict
Last time they offered this it was $200 for the checking account and $100 for the savings account. The requirements for both bonuses this time are much harder than last time. If it is a hard pull then I don’t think this is worth considering at all. If it’s a soft pull I’d still avoid the checking bonus as they offered more in the past with fewer requirements (and who really wants to deal with direct deposits for six months for $100?) but the $200 savings bonus is worth considering I think. You’re basically getting a 4% APY on the $10,000 balance for six months with no requirements, better than most high interest savings accounts.
I won’t be adding this to our best savings account bonuses though due to the reports of it being a hard pull.
Update: Might still be worth it with the $10,000 in credit card funding.
Big thanks to reader, DSG who let us know. Learn how to find bonuses and contribute to the site here.
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Just applied online. I live in FL. While nothing prevented me from applying, the only state I could choose for my home address was GA. I went with it so lets see what happens. Requested CC funding of $10.5k on Citi DC. Im expecting a call from them but routing and partial account numbers supplied. Fingers crossed.
Well then. Here is my email received.
This Promotion has EXPIRED Online. For GA Residents ONLY
promotion expired for ga residents too online?
That was 100% of the email they sent me. No editing. haha. The promo looks alive and well online.
LoL…I am in GA and I am gonna try this. But i am first gonna apply for the Citi thank you premier..will update as it happens
I don’t live in Georgia, but nothing in the application process seemed to restrict me from applying. It allowed credit card funding of $10,000 for the money market account, so it seems like you can fund the full amount to meet the bonus requirement.
At the end of the process, it gives you a page with the last four digits of your account number and the full routing number.
The system-generated email states: Your application has been submitted for processing and should be complete within one to three business days. Once approved, you will receive an e-mail from [email protected].
I have never seen a bank that gives you an account number before approval though.
Thanks for the info TomT. Would you mind sharing what credit card you used to fund the acct? I need to prep ahead of time. 🙂
Thanks TomT.
Can you please provide data regarding whether this is a hard or soft pull.
What card did you use for CC funding?
how about credit card funding?
It seems that this offer is now Available Nationwide.
Online application: https://www.cornerstonebankga.com/4q-350
Cornerstone Bank is offering a $350 bonus when you open a new Cornerstone Bank Checking and Money Market Account by December 31, 2017.
Please provide data regarding whether this is a hard or soft pull, as well as credit card funding.
Talked to a nice lady in customer service. Not nationwide. She said it was a glitch.
FYI, I successfully opened the Cornerstone Money Market Account from out of state (Chicago). So it seems to actually be nationwide. I didn’t call in first to verify. I just applied online for the account. I received a call that my account was opened and that th bonus was attached.
EO, can you please post your DPs? What did you use for DD?
I opened the money market, so no DD is required. However, I just opened the account a few days ago, so even if I had opened the checking, I would not have any dp’s yet.
Also, I did arch initial funding so I can’t comment on cc funding.
EO, when you opened the money market can you please comment if
is it a Hard Pull or a soft pull?
ChexSystems?
Don’t know if they ran Chex Systems, but if they did, they are not inquiry system. And no hard pull.
What you have failed to mention, and I think is the most important here is that this is essentially a cash back debit card.
I should shut up now.