Offer at a glance
- Maximum bonus amount: $300
- Availability: MO only, maybe MO, KS, AR, NE, OK, or IA
- Direct deposit required: Yes, $500+
- 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: None listed
Contents
The Offer
- First Federal Bank of Kansas City is offering a $300 bonus when you open a new checking account and complete the following requirements:
- Open a First Free Checking Account
- Enroll in online banking
- Receive at least one direct deposit
- Use your debit card at least 10 times within 60 days
The Fine Print
-
*You will receive a bonus of $300.00 if the following conditions are met within 60 calendar days of account opening. (limited to one $300.00 bonus per individual receiving the offer)
- A new First Free Promo checking account must be opened during the promotional period. The minimum opening deposit is $25.00. (For other important terms of our Deposit Accounts, please refer to the Terms & Conditions of Your Account and Limits and Fees disclosures provided at account opening.) • This offer is for new consumer checking account customers only. Existing consumer customers with loans, savings or business accounts are eligible. You are not eligible for this offer if you are a current First Federal Bank consumer checking account primary or joint owner, or if you closed a First Federal Bank consumer checking account after January 1, 2025, or had accounts closed with a negative balance within the last three years.
- You must enroll in online banking.
- You must receive at least one single direct deposit in the new account of $500.00 or more or multiple deposits totaling $500.00 or more. Your direct deposit needs to be an electronic deposit 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. • You must have at least ten (10) Debit Card transactions at point-of-sale terminals that post and settle.
- The new account must remain active for at least 60 days and remain in good standing.
-
After you have successfully completed all of the qualifying requirements, between 61- and 80-days following account opening, the $300.00 bonus will be credited to your checking account. The bonus amount will be reported as interest on an IRS Form 1099-INT or Form 1042-S if applicable.
- 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
Hat tip to reader Bockrr
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
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