Published on December 8th, 2018 | by William Charles0
[IL & MO] FCB Banks – $100 Money Market Bonus (Requires $55,000 Deposit – Earns 2.28-2.57%)
Offer at a glance
- Interest Rate: 2.28-2.57%
- Minimum Balance: $55,000
- Maximum Balance: None
- Bonus: $100
- Availability: IL & MO
- Direct deposit required: No, only for higher APY
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: FDIC
- FCB Bank is offering a bonus of $100 when you open a new HomeTown Money Market account. Opening this account requires a deposit of $55,000. The APY you receive ranges from 2.28 – 2.57% depending on your total balance and whether you receive direct deposit into that account or not. Interest rates listed here.
The Fine Print
- Bonus will be paid within 90 days of signing up for eStatements
- Bonus will be reported as interest
- Limit oyne bonus payment offer per customer in the last 24 months
- If multiple accounts are opened with the same owners, only one account will be eligible for the bonus
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees
Early Account Termination Fee
Not sure how long account needs to be kept open
If we assume a balance of $55,000 exactly you will earn 2.28% without a direct deposit and 2.37% with, that’s slightly below what you could earn with the top high yield savings rate currently. It’s hard to do a direct comparison after account for the $100 bonus because it’s not clear how long the account needs to be kept open for. If you have more funds that you’re willing to deposit then the rate also increases. For most people I’d say this bonus simply isn’t worth the trouble involved. Because of that I won’t be adding this to our list of the best savings account bonuses.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times