Posted by William Charles on February 12, 2020
Bank Account Bonuses

Published on February 12th, 2020 | by William Charles

19

[IL, IN, KY, MO] Banterra Bank $250 Checking Bonus

Offer at a glance

  • Maximum bonus amount:
  • Availability: IL, IN, KY, MO
  • Direct deposit required: Yes, $250+
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown 
  • Credit card funding: Unknown
  • Monthly fees: $10, avoidable
  • Early account termination fee: Bonus forfeit, six months
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Banterra Bank is offering a bonus of $250 when you open a new Saluki interest checking account and complete the following requirements:
    • Receive at least one direct deposit of $250+ within 60 days of account opening

The Fine Print

  • $250 Cash Bonus With Saluki Interest Checking: To receive $250 bonus, one direct deposit must post to your account within 60 days of account opening; direct deposit 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 be $250 or higher.
  • Bonus will be credited to your account within your statement cycle following your first direct deposit and will be reported as income on Form 1099-INT.
  • Limit one bonus per customer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

To avoid monthly fee of $10, one of the following is required each statement period: 1) $2,500 minimum daily balance or 2) $5,000 combined average balance in checking, savings, money markets or CDs. 3) A monthly direct deposit of at least $200 or higher is deposited to this account.

Early Account Termination Fee

Bonus forfeit if closed within six months

Our Verdict

Need to know if it’s a hard or soft pull, but worth doing if it’s a soft pull. Will add it to our best checking bonus post if it is a soft pull.

Hat tip to reader @mothman69

Useful posts regarding bank bonuses:



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e0
e0

Tried to apply online but all I found was a form. “Thank you for your interest in opening an account. A representative will follow up with you to complete the process.”

I’m in-state.

john m
john m

Hopefully your in their footprint.

JS
JS

Any dp regarding how to meet the direct deposit requirement?

Mr Fl0rp
Mr Fl0rp

I’m watching this one. If no ETF I’ll hump it and bring in P2 if possible

Mark
Mark

Fine print says “Account Closing: If your checking account is closed within six months after opening, the bonus amount you received for that account will be deducted at closing.”

No idea if this is enforced.

Staradmiral
Staradmiral

FIne print says 6 months so that answers ETF

john m
john m

Not in St.Louis. Outside of their footprint.

Mark
Mark

The only branch in MO is in the St. Louis area. I live 5 miles from the branch and I got a response from them that I’m not in their footprint. The StL location is only for loans apparently. Not a normal banking location. So, MO should be removed from the state list.

Tony
Tony

Just got off the phone with CSR. You can’t actually apply online, the bank will collect your contact information and instruct you to come to the closest branch to open an account. People in St Louis are eligible for the account based on the conversation I had.

john m
john m

Nope.

Brian Grincius
Brian Grincius

Based on the Saluki name, going to assume this is related to region around S Ill University in Carbondale. Going to doubt I can get in Louisville, but damn sure going to apply when I get back from Jamaica

michael
michael

cant really open online, have to provide basic info and says a rep will contact further. not getting my hopes up for approval for this one. im in state IL but not in the southern illinois area so doubtful on approval..

Charles Mann
Charles Mann

Thanks for the update.

AB
AB

If anyone has any luck opening online please share on here.

luptior
luptior

“Account Closing: If your checking account is closed within six months after opening, the bonus amount you received for that account will be deducted at closing.”

Found on their website.

David P.
David P.

It looks like there only 2 branches in MO near Cape Giradeau. I guess St. Louis is not part of the service area. Too bad!

google maps
google maps
mothman69
mothman69

Opened in-branch this afternoon…took maybe 15 minutes total. I plan on trying Alliant as my DD the first month. I’ll know it worked if I don’t get hit with the monthly fee. If I do get hit with the fee, I’ll try either Discover or Chase the second month…unless anyone else is opening an account soon and would like to test one of those two banks. I have quite a few different accounts I can try the second month.

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