Offer at a glance
- Maximum bonus amount: $350-$1,000
- Availability: Nationwide, sole props not eligible
- Direct deposit required: None
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
Direct link to offers below, do not share your referrals in the comments below. They can be shared and found in this linked post.
- Rho is currently offering up to $1,000 in bonuses when you open a new account:
- (Nerdwallet or other sources) $350: when you deposit $10,000 and maintain that balance for 90 days
- Referral: $500 when you deposit $20,000 and maintain that balance for 90 days
- Referral: $1,000 when you deposit $100,000 and maintain that balance for 90 days
The Fine Print
- 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
Early Account Termination Fee
I wasn’t able to find a fee schedule or mention of an EATF
Our Verdict
Rates are listed here, but you need a minimum balance of $100,000 otherwise it looks like you aren’t eligible. If you put $10,000 into a 5% APY account you’d earn $125 over the same 90 day period, so the $350 bonus is significantly better.
I suspect getting approved will be difficult as these accounts seem to be designed for start ups/high growth accounts. Personally this is an easy pass for me, but others might want to give it a go. Share your experiences in the comments below.
Please do not share your referrals in the comments below, they can be shared in this linked post.
Hat tip to reader dealgamer
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
