[MO & KS] North American Savings Bank (NASB) $300 Checking Bonus

Offer at a glance

• Maximum bonus amount: $300
• Availability: MO & KS?
• Direct deposit required: Yes, no minimum
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $8, avoidable
• Early account termination fee: $30, 90 days
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• North American Savings Bank is offering a $300 bonus when you open a new checking account and complete the following requirements:
  • Open a new Prosper checking account with a total deposit of $1,500 or more in new money
  • Set up ongoing direct deposits and deposit a total of $3,000 or more into this account within the first 90 days of account opening to qualify

The Fine Print

• $300 offer is valid for a new Prosper Checking account.
• It is not available to existing NASB personal checking customers (including trustees and signers on joint accounts) or those who have closed a NASB personal checking account within the past 12 months or had accounts closed with a negative balance within the last three years. This offer is limited to one per customer and account (including trustees and signers on joint accounts).
• This offer can be changed or canceled without notice and cannot be combined with any other offer. To receive the $300 Bonus: 1) Open a new NASB Prosper Checking account with a total deposit of $3,000 or more in new money. The minimum deposit required to open Prosper Checking is $1,500, but the minimum balance to earn a bonus is $3,000.
• An $8.00 monthly service fee will be applied to your account every month your balance drops below the minimum $1,500.
• 2) Account(s) subject to approval. The interest rate and annual percentage yield may change after opening the account. 3) Set up ongoing direct deposits and deposit a total of $3,000 or more into this account within the first 90 days of account opening to qualify.
• Your direct deposits must be electronic deposits of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government.
• Deposits processed as a debit card credit or via Account to Account or Peer to Peer (e.g., Zelle ®, Venmo) transfers do not qualify. Micro-deposits (small deposits, typically less than $1, that are sent to your account to verify it is the correct account) do not qualify as a direct deposit for the bonus.
• 4) At the completion of 90 days from account opening, after you have completed the above requirements, if your account is open and in good standing and has a balance greater than zero, NASB WILL DEPOSIT THE $300 BONUS IN YOUR NEW ACCOUNT WITHIN 90 BUSINESS DAYS. THE $300 BONUS OFFER IS CONSIDERED INTEREST AND WILL BE REPORTED ON IRS FORM 1099-INT (OR FORM 1042-S, IF APPLICABLE).
• The enrolled account must not be closed or restricted during payout to receive this bonus. We may close your account without prior notice if your balance is zero. If you close the account within 90 days of opening, a $30 Account Closure Fee will be applied to your account. The bonus offer is effective as of 9/27/2024.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

An $8.00 monthly service fee will be applied to your account every month your balance drops below the minimum $1,500

Early Account Termination Fee

If you close the account within 90 days of opening, a $30 Account Closure Fee will be applied to your account.

Our Verdict

Terms are a little confusing, says you need to deposit $3,000 at opening and then deposit $3,000 within 90 days. Not sure if the initial deposit counts or not.

Hat tip to Lefty

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