Update: This is a bank & trust bonus, more information here.
Deal has expired, view more bank account bonuses by clicking here.
This is actually a Bank & Trust bonus, more information here.
Offer at a glance
- Maximum bonus amount: $350
- Availability: KS only
- Direct deposit required: Yes, $500+
- Additional requirements: eStatements and $7,500 balance on 60th day
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None with eStatements
- Early account termination fee: Bonus forfeit and $25 fee if closed within 90 days
- Household limit: None listed
- Expiration date:
September 3rd, 2019October 31st, 2019
Contents
The Offer
- Bank of Blue Valley is offering a bonus of $350 when you open a new consumer checking account. Bonus is broken down is as follows (requirements need to be completed within 60 days of account opening)
- $30 bonus for enrolling in eStatements
- $70 bonus for receiving a direct deposit of $500 or more
- $250 bonus if the account has a balance of at least $7,500 60 calendar days after account opening (if this falls on a weekend or holiday balance on the following business day will be used)
The Fine Print
- $350 bonus offer is not available to existing Bank of Blue Valley consumer checking customers or those who have been paid a new account opening bonus since January 1, 2018.
- Bonuses only apply when opening a new consumer checking account at Bank of Blue Valley or mjbtrc.com during the promotional bonus period.
- The promotional bonus period is 7/15/2019-9/3/2019.
- If the account is closed by the customer or bank within 90 business days after opening, we may deduct bonuses earned and received at closing and a $25 account closing fee may be assessed. Closing the account will negate any unearned bonuses.
- All bonus dollars will be paid to the newly opened checking account.
- If multiple checking accounts are opened during the promotional bonus period under the same primary owner name, the bonuses will be paid to the account that was opened first. Limit one bonus per new consumer account relationship.
- A $30 bonus will be given for enrolling in eStatements within 60 calendar days of account opening and a $70 bonus will be given if one (1) direct deposit of $500 or more post to the account within the first 60 calendar days of account opening. Direct Deposit examples include payroll, pension, Social Security or other government benefits
- . A $250 bonus will be paid if the account has at least $7,500 balance 60 calendar days after account opening. If 60th calendar day falls on a weekend or holiday, balance on the following business day will be used to qualify for the promotion.
- Bonuses will be paid within 90 business days after the promotional period has ended.
- An IRS 1099 form may be issued.
- Keep minimum average daily balance of $7,500 to avoid $12 monthly maintenance fee.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account as long as you opt in for eStatements
Early Account Termination Fee
If the account is closed within 90 business days the bonus is forfeit and a $25 fee is charged
Our Verdict
Looks like you just need the $7,500 in there on the 60th day, so should be able to transfer the funds in just before then to trigger the full bonus. If it’s a soft pull to open then this is definitely worth doing and we will add to the best bank account bonuses.
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
