Offer at a glance
- Maximum bonus amount: $200
- Availability: East Prairie Branch only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5-$15 avoidable
- Early account termination fee: Bonus forfeit if closed within six months
- Expiration date: December 31st, 2016
Contents
The Offer
- Banterra are offering a bonus of $200 when you open a SmartChoice or InterestPlus checkng account at their East Prairie branch. You must also complete the following requirements:
- At least one qualifying Direct deposit must post to your account within 60 days of account opening
The Fine Print
- Bonus will be credited within six weeks of first direct deposit
- Limit of one bonus per household
- Cannot be combined with other checking offers
- Not available to existing customers or those who have closed their accounts within the last 90 days
- Account must be kept open and remain in good standing for a minimum of six months, otherwise bonus will be deducted.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There isn’t any early account termination fee charged, but you do need to keep the account open for six months or you will forfeit the bonus.
SmartChoice $5 Monthly
This fee cannot be avoided and you’ll be charged another $1 a month if you have paper statements.
InterestPlus $15 Monthly
This account has a monthly fee of $15, this can be waived if you do either of the following:
- $5,000 minimum daily balance in this account
- $20,000 combined average balance in this account, identified checking, savings & money markets, or minimum balance in certificate of deposit (CD) and/or IRAs. The CD minimum balance equals the current balance at the beginning of each statement period.
Our Verdict
I’d probably just eat the $5 monthly fee for six months than worrying about keeping the InterestPlus account fee free, that leaves you with $170 minus taxes. Probably worth it if you live close to the branch but not worth driving well out of your way for. I’m sure you can ask if they do a hard/soft pull when you go in branch as well. I suspect if they do allow credit card funding it will code as a cash advance in branch.
We have a complete list of the best bonuses for other banks you can view here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
