Offer at a glance
- Maximum bonus amount: $1,000
- Availability: In branch only, full list of locations here.
- Direct deposit required: None
- Additional requirements: $50,000 balance for 3 statement cycles
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None listed
Contents
The Offer
- First South Financial is offering a $1,000 business checking bonus when you complete the following requirements:
- Open a NEW Business checking account and deposit $50,000
- Maintain at least $50,000 daily balance for the first 3 full statement cycles
- Conduct 20 qualifying transactions within the first 3 full statement cycles
The Fine Print
- Limited time offer valid for new business checking accounts, offer is subject to change or withdrawal at any time without notice.
- Qualifying transactions include deposits, checks cleared, ACH deposits or payments, and signature or PIN-based purchases made with a debit card.
- A minimum daily balance of $50,000 must also be maintained for the first three statement cycles.
- The $1,000 bonus will be credited to your account within 10 business days after the three-statement cycle qualification period provided all qualifying conditions have been met.
- Offer not valid for existing FSF business checking accounts.
- New business memberships and accounts are subject to approval, not all applicants will qualify.
- Offers are subject to change or withdrawal without notice, please see us for complete details.
- Federally insured by NCUA.
- 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 doesn’t have any 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 any early account termination fee
Our Verdict
Not a bad deal if you have the spare money. If you put the $50,000 into a 5% APY earning account for three months you’d earn $625 so this is better but not by a massive margin.
Hat tip to reader ShawntheShawn
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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 Calculate And Share Your ChexSystems Datapoints
- 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
