Deal has expired, view more checking bonuses by clicking here.
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: 4/30/20
Contents
The 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
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- Introduction To ChexSystems
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- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
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View Comments (26)
Terms say bonus expires 4/30/20.
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.
Bad news everyone, they are apparently Chex/EWS sensitive (not sure which). I received a call from a regional manager and they told me my account had been flagged for review due to my banking history, and that they had never seen anyone with so many different accounts before. They stated they want to protect their best interests and told me that I can either provide proof that I have closed my 20+ other bank accounts or that they will close my account. I said to just close my account. So I'll chalk Banterra up as a loss. No big deal...on to the next one.
Funny. I didn't know there was a law capping the number of accounts one could have. I guess the caps only apply to banks' assets who fraudulently open dozens of fake accounts in peoples' names unbeknownst to them. Bank- here's an offer! You-hello I know how to make sure you make good on your offer Bank- its not THAT kind of offer! Not for you!
What kind of proof did they want?
I didn't ask since I currently have a bunch of open accounts with other banks.
That's ridiculous. It is smart to move on than wasting time on this bank.
$250 DD from Alliant posted yesterday. The description only says "ALLIANT CU. ONLINE WD" and there is no category label. I'm pretty confident that this will trigger since Alliant works as a DD source for nearly all banks with a few exceptions.
Here's a map of their branches: https://www.google.com/maps/search/banterra+bank/@36.9367731,-89.6623612,7.75z
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!
“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.
If anyone has any luck opening online please share on here.
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..
Thanks for the update.
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
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.
Nope.
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.