Posted by William Charles on February 17, 2019
Bank Account Bonuses

Published on February 17th, 2019 | by William Charles

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[NM, In Branch] First National 1870 $100 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: In branch only, all branches are in New Mexico [Branch locator]
  • Direct deposit required: Yes, although it says ACH credit so not sure how strict
  • Additional requirements: 20 debit card transactions
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $6, avoidable
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: March 31st, 2019

The Offer

Direct link to offer

  • First National 1870 is offering a bonus of up to $100 for yourself and $50  for a school when you open a new Spend & Sign & Save (S&S&S) checking and savings account package at any Sunflower or First National 1870 location. Bonus is broken down as follows:
    • $50 when you complete 20 or more debit card purchases
    • $50 if an ACH credit (direct deposit) posts on or before 4/30/19

The Fine Print

  • The new S&S&S checking must be open and in good standing as of 5/6/19 to be eligible for the bonus payment.
  • To be in good standing, the account must have a positive balance at least one day between 4/5/19–5/6/19.
  • Customer will receive a 1099 INT for bonus payment.
  • All qualifying bonus payments will be paid 5/7/19 into the new S&S&S checking account.
  • Not valid with any other offer.
  • School must be a participant in ABC Program to receive payment.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The S&S&S account has a $6 monthly fee. This is reduced by $0.25 for every debit card transaction you make (24 to make it zero)

Early Account Termination Fee

I was unable to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Don’t think this is worth doing, very small bonus and has to be opened in branch. In addition it’s very difficult to keep the account fee free. With much better bonuses available I’d just give this one a miss.

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