Update: There is a better offer for $250, more details here.
Reposting this since it’s been more than a year since we last posted this deal.
Offer at a glance
- Maximum bonus amount: $150
- Availability:Â TN, FL, NC, SC, VA Only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Use promotional code “MGR150”
- Hard/soft pull: Soft
- Credit card funding: Up to $300
- Monthly fees: $5-$9, waive able
- Early account termination fee: Six months, otherwise bonus is clawed back
- Expiration date: March 31st, 2016Â
September 30th, 2015ÂMay 31st, 2015ÂJanuary 31st, 2015
The Offer
- Receive a $150 bonus when you open a consumer checking account with First Tennessee bank, use the promotional code “MGR150” and receive a direct deposit
The Fine Print
- Minimum account opening is $300
- Direct deposit must be received within 60 days of account opening
- Bonus will be deposited within 6 weeks after meeting the direct deposit requirement
- Limit of one bonus per household
- Only available to new checking customers or those who haven’t held a Checking account with First Tennessee within the last 12 months
- Account must be kept open for a minimum of six months
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Express Checking $5 Monthly
This is waived as long as you have at least one direct deposit in the month.
Our Verdict
There is a higher bonus of $200 that this bank is offering with similar terms. This lower sign up bonus of $150 might be better for two reasons:
- You can open online, rather than in branch
- You can get this bonus on the Express checking account which doesn’t require $5,000 to be kept fee free
Because of the above I’d be more likely to recommend this deal than the other one. The only downside is there aren’t a lot of data points on what does or doesn’t count as a direct deposit. If I lived within the promo area, I’d be giving this bonus a go but unfortunately I don’t. We’ve added it to our list of state specific checking promos.
If you don’t live within one of the participating states, look at our list of the best new checking account sign up bonuses.
Direct link to offer | Screenshot of offer
Hat tip to our other writer, Chuck.
