Deal has ended, view more bank account bonuses by clicking here.
Update 10/4/21: Extended through December 31, 2021.
Update 7/13/21: Extended through September 30, 2021.
Update 4/14/21: Extended until June 30th, 2021. Some DP that the targeted language isn’t enforced on the $350 bonus.
Update 2/18/21: There is now a $350 bonus as well. Hat tip to jasonalanmorgan
Update 1/13/21: Deal is back, there is now a $250 option as well. In the past the targeted language hasn’t been enforced but YMMV. Hat tip to reader Joey
Offer at a glance
- Maximum bonus amount: $150/$250
- Availability: OK & 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] In addition the offer contains targeted language
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Deposit $50 at account opening
- 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 31st, 2020March 31, 2021
Contents
The Offer
Direct link to offer: $150 bonus | $250 bonus | $350 bonus
- Central Bank is offering bonus of $150 when you open an eligible checking account and complete the following requirements:
- Use promo code CM150Q2
- Deposit $50 at account opening
- Have at least two direct deposits within 90 days of account opening
- Central Bank is offering bonus of $250 when you open an eligible checking account and complete the following requirements:
- Use promo code CM250Q2
- Deposit $50 at account opening
- Have at least two direct deposits within 90 days of account opening
- Central Bank is offering bonus of $350 when you open an eligible checking account and complete the following requirements:
- Use promo code CA350Q2
- Deposit $50 at account opening
- Have at least two direct deposits within 90 days of account opening
The Fine Print
- To receive the $150 checking bonus open a new eligible personal checking account.
- Eligible accounts include MyChoice Checking, MaxMoney Checking, Free Checking, Preferred Interest Checking, and World Checking.
- Deposit $50 or more at account opening; and have at least two or more direct deposits within 90 days of account opening.
- Qualifying types of Direct Deposits include Payroll, Pension or Government Benefit. Bonus is reported to the IRS as interest.
- Bonus will be deposited into the checking account within 15 business days after account 1) meet all requirements AND 2) has been open for 90 days.
- Available to new checking account customers only. Customer must bring in mailer or use offer code to receive incentive.
- Offer may only be redeemed by the intended recipient and are nontransferable.
- Eligibility for this offer will be verified prior to providing the bonus.
- One offer per household. We reserve the right to not open accounts for customers outside our market area.
- Not all offers are available at all affiliates of Central Bancompany.
- Please contact us for further details.
- Promotion ends 12/31/2020.
This card is issued by The Central Trust Bank pursuant to a license by Mastercard International Incorporated.
+Mobile carrier data and text rates may apply. - 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
Shame it’s targeted, otherwise we would have added this to our list of the best checking account bonuses. As far as I know the targeted language is enforced unfortunately.
Hat tip to DDG
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
Post history:
- Update 5/15/20: Possible that the targeted language is not being enforced. Hat tip to Mali.
I opened on 12/20 and did astra transfer of $250 two times on 1/12 and 2/9 for $350 bonus. But not received as of today. I sent a secured message but not hopeful. Maybe they don’t count astra as DD.
William Charles $300 referral offer valid until 12/31/2022: https://www.centralbank.net/raf300/
The referrer gets $50. Might also want to update the title to include Illinois.
DP: You are not able to churn this bank. “New checking account customers” means one time only. I tried using legit DDs, but secure message stated I’m ineligible “You are not eligible as you’ve had an account with us previously.”
They also enforce the household limit.
Thanks for the DP. Unfortunate, but saves me the trouble of trying to churn.
Just a DP: I thought I should have received the bonus by now and I hadn’t so I called central bank. They said my account wasn’t eligible because I only had done $200 in direct deposits and the requirement was $500, even thought that was not stated anywhere on the requirements. When I pointed this out they said they would get the bonus credited to my account.
DP: Opened 7/13/21 technically OOS but in foot print
funded $1,000 with a chase card
Blasted transfers between $220 – 350 from:
Commerce bank
Ally bank
Wells Fargo
Betterment Checking
all credited as ACH so no idea what triggered the bonus
New account promotion received 10/19/21
Sent an email asking them about the open account bonus then they conveniently just close my account without any consent. Purely garbage….
7/13/21 Opened Account OOS online. Funded with BOA Cash Rewards MasterCard. Coded as Online Shopping for 3% cash back
7/21/21 Two Employer Direct Deposits Completed
10/19/21 New Account Promotion $350
Thanks for the DP Jim Jones In which state are you located in?
Illinois
Promo codes have changed from Q3 to Q4 (e.g., CA350Q3 to CA350Q4).
“One offer per household.”
Is it the same “offer” if it has a different promo code?
Wondering if I should give up on this one? OOS but based on other DPs thought I might try. Applied over the weekend and app went pending. Got an email yesterday asking to upload license, done. Got another email today requesting a call back. I’m assuming they are going to ask why bank there living in PA ha. Don’t wanna call and ruin it for other OOS…
@ted did you ever call back and if so how did it go?
I did call back. Started out good they just asked a couple run of the mill questions so I thought I was good. However the last question they asked was why did I wanna bank there since I live in PA. Tried to bs it about liking their products and what not but she said no go. Oh well on to the next.
My Data Point for $350 bonus:
4/16 Opened MyChoice Checking with $1000 charged to Priceline Rewards Visa (Barclays) as purchase
5/14 $251 employer direct deposit
5/28 $251 employer direct deposit
6/15 $251 employer direct deposit
6/30 $251 employer direct deposit
7/15 $251 employer direct deposit
7/19 $350 bonus received
There are a few branches near me. I was not targeted.