Update 1/7/25: Extended to 12/31/2025.
Update 1/1/25: Extended to 1/6/2025
Update 9/10/24: There is an offer for the St Louis market only that is up to $800
Update 4/15/24: There is another link that doesn’t require a referral here.
Update 1/14/24: Extended until 12/31/2024
Update 2/25/23: Deal is back until 12/31/2023
Update 6/11/22: Looks like CO also works.
Update 3/8/22: There is a new link with a $100 savings bonus as well.
Offer at a glance
- Maximum bonus amount: $300 + $100
- Availability: OK, IL, KS & MO only, If you don’t live within 50 miles of a branch you won’t be eligible for the offer (it’ll let you sign up and then they will later close your account) [Branch locator]
- Direct deposit required: Yes, two direct deposits
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Can fund up to $1,000 with a credit card. Mastercard & Visa are accepted
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: One
- Expiration date: December 31, 2022
Contents
The Offer
- Central Bank is offering a referral bonus of $300. Requirements are as follows:
- Use promo code RAF300
- Enter person who referred you first and last name
- Deposit $50 or more at account opening
- Have at least two qualifying direct deposits within the first 90 days of account opening
The Fine Print
- To receive the $300 checking bonus open a new eligible personal checking account. Eligible accounts include MyChoice Checking, MaxMoney® Checking, Free Checking, World Checking, and Preferred Interest Checking.
- Deposit $50 or more at account opening; and have at least two or more direct deposits within 90 days of account opening.
- Acceptable types of Direct Deposits include Payroll, Pension or Government Benefit.
- Bonus is reported to the IRS as interest.
- No minimum balance required for bonus.
- Bonus will be deposited into the checking account within 15 business days after account 1) meets all requirements AND 2) has been open for 90 days.
- Available to new checking account customers only.
- One offer per household.
- We reserve the right to not open accounts for customers outside our market area.
- Offer not valid with any other offers.
- Promotion ends 12/31/2022.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee. Might as well keep the account open as there is no monthly fees to worry about (usually six months is long enough to avoid any potential early account termination fee).
Our Verdict
Not sure what the person referring gets. We’ve seen a bonus as high as $350 in the past, but that had targeted language. Feel free to share your referrals in the comments below. We will add this to our list of the best checking bonuses. No longer possible to do Jefferson and this one, unfortunately.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Anyone familiar with vetting a similar targeted offer? I’m local, actually attend games but am not a season ticket member. The offer details are vague and do not reference any season ticket holder requirements. It does however include verbiage that, in my opinion, gives them carte blanche bonus denial privileges.
“Customer must bring in mailer or use offer code to receive incentive. Offer may only be redeemed by the intended recipient and is nontransferable. Eligibility for this offer will be verified prior to providing the bonus.”
Although it states “or use offer code”, it’s unclear if I could be denied because I may not be “the intended recipient.” I don’t want to the risk a hit on Chex or my credit report, not to mention bothering HR to switch my real DD if I could be denied. Not too many data points outside real DD.
Sporting $300 offer
Sporting Season Ticket Members get up to $800 disclosure1 when you:
Open any eligible checking account.
Have two or more direct deposits within the first 90 days totaling:
$800-$9,999.99 to earn $300
$10,000 or more to earn $800
Have a minimum balance of $50 or more 90 days after account opening.
Use Promo Code: SPORTINGSEASON
To receive a bonus, you must: (1) open and maintain any personal checking account except Free Checking. (2) Deposit $50 or more at account opening, and (3) have at least two or more direct deposits within 90 days of account opening that total; $800 to $9,999.99 to earn the $300 bonus or $10,000 or more to earn the $800 bonus. Minimum balance of $50 required 90 days after account opening to receive bonus. Qualifying types of Direct Deposits include any direct deposit from Payroll, Pension or Government Benefit. Bonuses are reported to the IRS as interest. Bonuses will be deposited into the checking account within 15 business days after account(s) 1) meets all requirements AND 2) has been open for 90 days. Available to new checking account customers only. Offer is not available to those whose accounts have been closed with a negative balance within the last 2 years. You will receive only one new checking account opening related bonus every two years from the last date incentive was paid. Only one bonus per household. Customer must bring in mailer or use offer code to receive incentive. Offer may only be redeemed by the intended recipient and is nontransferable. Eligibility for this offer will be verified prior to providing the bonus. The new checking account must be open and in good standing on the date any earned bonus is paid. We reserve the right not to open accounts for customers outside our market area. Please contact us for further details. Promotion ends 12/31/2025.
How do I get Wise to send a transfer as an ACH payment? It sent my payments as RTP’s both times i’ve tried it. I add money to wise and then send money from my wise balance, and it doesnt give me any option to select the method it uses to send funds. Can’t find anyone addressing this.
Applied back on January 4th, and got denied due to CS however, at the time I had nothing listed on Chex. I pulled the report and the Central Bank inquiry was the only inquiry I had listed. I have nothing derogatory so the rest was blank. So I don’t really get it but I guess it’s not meant to be.
6/20 Account opened with $50
7/11 Ally push $300
7/19 Ally pull $300
8/5 Ally push $50
8/12 Ally pull $50
9/6 Ally push $25
9/25 $300 bonus posted
Received this offer today via snail mail at my POBox which is >50 mi from the nearest branch.
“Get started at centralbank.net/dream”
“Promo code: DREAM”
Anyone similarly situated get/try this?
”DREAM” has the same $300 bonus and requirements as the posted bonus link “RAF300”. I did not receive a mailer, but I can see both offers by changing the URL.
I’m seeing a $50 bonus to account holders that refer someone else on top of this
Does Central Bank send out 1099 for referrals? I made several referrals last year, but there is no 1099-int or 1099-misc in the online banking.
Looking for a referral code for MO. [email protected]
Sent you a referral
Care to share another via [email protected]?
Many thanks to those that shared.
Getting ready to close account after 4th statement, but did confirm in T&C dated 3-21-2023, pg 14 Account Closed within 90 days of opening fee of $25. So I’m good!
HHL of one enforced?