$100 bonus is no longer mentioned, looks like the deal is now deal. You can view the best current checking bonuses by going here.
Update 05/03/18: We’re reposting as there are no longer any requirements to earn the 1.6% APY rate. Just keep in mind other accounts are now offering up to 2% APY with no requirements and 5% APY with requirements.
Offer at a glance
- APY: 1.6% APY
- Availability: Nationwide
- Additional requirements: 3 ACH deposits of $200+
- Hard/soft pull: Soft
- Credit card funding: Up to $500
- ChexSystems: Yes
- Monthly fees: None
- Early account termination fee: None
- Expiration date: 12/31/2018
- Signup for a MemoryBank EarnMore account and get $100 bonus with promo code: TA2018
To be eligible for the bonus, you must have 3 ACH deposits of $200+ each by the end of the third statement cycle.
1.60% APY Requirements
As of 05/02/18 there are no longer any requirements needed to earn this rate.
To be eligible for the bonus APY rate, you need to do the following three qualifying activities: Receive at least 1 electronic deposit such as payroll, transfers from other financial institutions, or even Popmoney each month Use your debit card for at least 5 in-person or online purchases each month Get your statements online
The Fine Print
- New monthly statement cycles begin on the 15th of each month.
- Electronic deposit is defined as an ACH credit transaction.
- Offer expires 12/31/2018.
- Limit one TaxAct promo per customer.
- Offer valid upon opening an EarnMore Checking Account.
- $100 cash bonus earned for receipt of a minimum of 3 ACH credits of at least $200 each into the new EarnMore Checking Account. Qualifying ACH credits must occur between the day the EarnMore Checking Account is opened and by the end of the third statement cycle.
- Cash bonus will be deposited into the EarnMore Checking Account on the first business day of the statement cycle following the statement on which the qualifying activity appeared and is reportable as interest on a 1099-INT.
- Not valid with any other offer.
- Offer valid with promo codes only.
- $50 minimum opening deposit.
We wrote about the MemoryBank offer last year when it was just a high APY rate (back then this was a high rate); now they’ve added the $100 bonus for TaxAct customers. I assume anyone can add the promo code and get the offer attached.
$100 signup bonus for a checking account is on the low side, but readers point out that for an easy bonus like this + $500 in card funding it’s not a bad offer to do, and it’s available nationwide. We’ll add this to our List of Best Bank Bonuses.
Would be even better for someone who wants the 1.6% APY checking rate on balances up to $250,000. That said, there are monthly requirements to get this rate, as mentioned, and 1.6% isn’t even the best rate around anymore which makes the deal as a whole much less enticing. Check our List of Best Savings Accounts for up to date information on best interest rates available.
Hat tip to reader CJ