Deal has now ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $100
- Availability: KY only
- Direct deposit required: No
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $4, avoidable
- Early account termination fee: $25, 90 days
- Household limit: None listed
- Expiration date: October 14, 2020
Contents
The Offer
- Kentucky Bank is offering a bonus of $100 when you open a new smart checking account
The Fine Print
- Offer only valid when opening one of our Smart eAccounts online.
- You must open your new account by 10/14/2020.
- After opening your Kentucky Bank checking account, we will deposit the bonus in your new account within 90 business days.
- Only valid for new Kentucky Bank checking customers.
- Limited time offer—may be discontinued without notice.
- The offer is not available to those whose accounts have been closed within 90 days of opening or closed with a negative balance. $25 minimum deposit required to open account.
- Bonus may be taxable as interest income and reported on IRS Form 1099-INT. Consult a tax advisor.
- 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 a $4 monthly fee. You can reduce it by the following amounts:
- Direct deposit refund – ($2.00)
- eStatement refund – ($2.00)
- Military refund (active & veteran) – ($4.00)
- Student refund (under age 23) – ($2.00)
Early Account Termination Fee
There is a $25 fee if closed within 90 days
Our Verdict
No requirements for the bonus, but a bit annoying to keep the account fully fee free. Although with just eStatements it’s only $2 a month so not that bad depending on how long the account needs to be opened/how long it takes for the bonus to post. Worth doing if it’s a soft pull.
Hat tip to reader Jordan
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
View Comments (23)
Extended to March 31, 2021: https://www.kybank.com/get100/
@will
In-state application:
Applied: 9/18/2020 - Denied immediately
~2 checking accounts opened in last 3 weeks, none previously this year.
Hello Davis,
Thank you for applying at Kentucky Bank! Upon review of your application, we are sorry to inform you that your application has not been approved based upon bank guidelines. You may call us at 800-467-1939, send us an email at Originate@kybank.com or stop by any of our branches for further queries on your application.
Sincerely,
The Kentucky Bank Team
30 Chex inquiries in the last year
A friend (OOS) told me they snail-mailed a Chex denial letter... it will reference your Qualifile (Chex) score. I am going to wait for some positive DP's before entering my info.
In-state app. pending since 9/5. No email or phone call from the bank.
Got account approval email today. Chex 10+/12months.
App is pending in-state with 20+ new accounts in the last year.
Denied
Application is pending. Curious to see if they accept me, I've opened a bunch of accounts lately.
I can actually see the local branch from my living room, so I'm in their footprint lol
Approval Email on 9/11, no info about account details, no login info. Very poopy first impression
Same here. Nothing after verifying the funding account. So far I received 3 emails which are app. received,app. approved and validate your account.
9/24 Still nothing from this bank. Even some of the smaller banks I app'd credit cards to communicate better than this.
About a week ago I called in and was told that I had to go to branch to get my account no. and debit card. So far no bonus yet.
App went pending OOS. $25 early account termination fee if closed within 90 days. No CC funding. @will
Any updates? Keeping a close eye on this one.
@guest_1049448 and @guest_1049273, nothing yet. Will post once I hear back.
@guest_1049448, @guest_1049273 - got the email yesterday. Rejected
Ahhh that sucks. Ok, well thanks for the DP
@guest_1049288 We will follow your journey with great interest
I must be missing it? Where does it say only in Kentucky?
Be the DP you want to see. This bank only has branches in Kentucky, so it is assumed they will only accept people that live there. I’d go for it, but I’ve started getting Chex declines from too many inquiries, and don’t want to waste one.
I have opened a ton of accounts lately as well. Just got my first ever Chex decline yesterday. Unfortunately, it happened to be the best bonus of them all. Oh well.
Great to see a local option including Kentucky. Will try to look out for more myself. Thanks Doc