Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $500
- Availability: In branch only. Chicago, Omaha, Kansas City, Denver, and Dallas
- Direct deposit required:No
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: None
- Monthly fees: No
- Early account termination fee: None
- Household limit: No
- Expiration date: 8/31/24
Contents
The Offer
- FNBO Bank is offering a bonus of $200 or $500. Requirements are as follows:
- Open your account at a branch and mention promo code BIZCHECKING.
- Fund your account within 31 days of opening your account a qualifying deposit of $10,000 or more.
- Maintain your balance for 93 days from account opening.
- Deposit $10,000 – $19,999.99 and Earn $200
- Deposit $20,000 and above and Earn $500
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule.
Our Verdict
Unfortunately it’s in branch only. You need to maintain funds for 93 days, for the $500 bonus that works out to be ~10% annualized return. The $200 bonus works out to be ~8% annualized return. Looks like deposits need to be cash?
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
I was searching banks I have in my town and just saw this one too, was coming here to see if I was posted. Did you try it?
It isn’t worth the 45 min drive for me with high Chex and sole prop. They do pull Chex according to a DP here:
https://www.doctorofcredit.com/banks-credit-unions-dodont-pull-chexsystems/#comment-1402226
But that might be different for a business account.
Trash offer
In defining qualifying deposits, the fine print says “Transfers from a bank or brokerage account do not constitute as a deposit(s).”
Without transfers from another business account, this will be very hard bonus to earn.
How would you even earn it without that? Cashiers check or cash?
A cashiers check would be a transfer from a bank. Cash, maybe not, but then there’s paperwork for cash deposits greater than $10k. Few businesses rely on that much cash.
It also says that providing the code to the banker may disqualify you.
“The customer is responsible for providing the received promo code “BIZCHECKING” not (case sensitive) to a banker at time of account opening. Failure to do so may result in not receiving the bonus offer.” 🤣
So, I wonder if the deposit verbiage is also a mistake and they just forgot to specify that xfers from an FNBO bank/brokerage acct don’t qualify.
Footnote 4: “New money not currently or previously held in any account at FNBO or FNBO Direct.”
They track the serial numbers of all the electronic dollars you ACH in.
I think FNBO meant “(not case sensitive)” instead of “not (case sensitive)”. You might be right about the bank/brokerage account verbiage but I wouldn’t want to find out the hard way!
Yes, I’m sure that they mean “not case sensitive”. I guess just bring a check/money order.
Terrible amateurish website, can’t actually find the branches near your location.
It’s in the footer of basically every page, in the header on some, and on the offer page itself. https://www.fnbo.com/branch-locations/branch-atm-locator
It worked fine for me, so maybe there aren’t branches near you or cookies/vpn/browser are blocking something.