[MO only] First Federal Bank of Kansas City $200 Checking & $50 Savings Bonus

Update: This is for Hallmark employees only, YMMV if that is enforced or not

Offer at a glance

Maximum bonus amount: $250
Availability: MO only
Direct deposit required: Yes, recurring deposit. No minimum mentioned
Additional requirements: See below
Hard/soft pull: Unknown, soft pull according to rep
ChexSystems: Unknown
Credit card funding: Up to $1,000 with a Visa/Mastercard or Discover
Monthly fees: None
Early account termination fee: None
Household limit: None
Expiration date: Unknown

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

First Federal Bank of Kansas City is offering a bonus of $200 when you open a new checking account and complete the following requirements:
- Use promo code Hallmark
- Deposit $25 at opening and within 45 days establish a recurring direct deposit
- Qualify for Kasasa rewards four out of the first six qualification cycles. This requires:
  - Use your debit card at least 12 times per monthly cycle
  - Log in to Mobile or Online banking at least once per monthly cycle
  - Receive e-Statements
You can also get a $50 bonus when you open a companion Kasasa saver account and complete the following requirements:
- Use promo code Hallmark
- Deposit $25 at opening and within 45 days establish a recurring direct deposit

The Fine Print

To receive $200 bonus payment you must open a Kasasa® Cash or Kasasa® CashBack Checking account online or at any of our eleven (11) First Federal Bank of Kansas City Banking Center locations. Deposit $25 to open and within 45 days of opening establish a recurring direct deposit of your payroll, pension or government direct deposit. Open companion Kasasa® Saver and deposit $25 and within 45 days of opening establish a recurring direct deposit of your payroll, pension or government direct deposit or monthly recurring automatic transfer from another financial institution or First Federal Bank account and receive an additional $50 bonus.
You must also qualify for Kasasa® rewards four (4) out of the first six (6) qualification cycles to be eligible to receive bonus payment(s).
You must mention that you are an employee, family member or referral from a Hallmark employee to receive bonus incentive and not have a current account with First Federal Bank of Kansas City and not have had an account with First Federal Bank of Kansas City closed with a negative balance.
All new accounts are verified through ChexSystems. Your account must be open and in good standing at the time you receive the bonus.
Your bonus dollars will be deposited to your account(s) in the seventh (7th) qualification cycle after account opening and you have met all the qualification requirements for checking and savings.. Limit one bonus checking and one bonus savings account payment per household.
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 didn’t find any mention of an early account termination fee in the fee schedule.

Our Verdict

A lot of requirements for this bonus, it wouldn’t be too bad if you didn’t need to meet the qualification requirements for four qualification cycles but you do. The 2.5% APY account for doing so isn’t particularly attractive either (best savings rates can be found here). It’s worth doing the savings bonus at the same time as there shouldn’t be any extra chexsystems inquiry and there are no additional requirements for that bonus as far as I can see. If anybody goes for this bonus then please share your experiences in the comments below.

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