Update 2/24/19: Deal is actually available at all Reliant Bank branches.
Update 2/23/19: Apparently available at all Nashville area branches. Also confirmed to be a soft pull
Update 2/17/19: Also available in Chattanooga.
Offer at a glance
- Maximum bonus amount: $200
- Availability: In branch only, all branches are in TN [Branch locator]
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Yes, see below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: One
- Expiration date: None listed
- Reliant Bank is offering a bonus of $200 when you open a new free checking account and complete the following requirements:
- Have an opening deposit of at least $500
- Receive a qualifying direct deposit first full statement cycle
- Have 10 settled debit card transactions on the first full statement cycle
- Maintain a positive account balance for 90 days
The Fine Print
- This offer is limited to one per household and is not available to existing Reliant Bank checking customers.
- To receive bonus, you must open your account at a Reliant Bank branch and present a copy of this offer certificate.
- To qualify for the bonus, you must have an opening deposit of at least $500 (dollars must be new money, i.e. funds not previously on deposit at Reliant in the last six months), at least one qualifying direct deposit1 posted to your account, and 10 settled debit card transactions (not including ATM transactions) on the first full statement cycle.
- You must also maintain a positive account balance for 90 days.
- If you meet the stated requirements of this promotional offer, the bonus will be deposited to your account on the first business day after the account has been open for 90 days and will be reported as income on Form 1099-INT.
- This offer is subject to change without notice and may be withdrawn at any time.
- Accounts are subject to approval.
- A qualifying direct deposit is an electronic credit to your account of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency.
- Transfers from one account to another or deposits made at a banking location or ATM do not qualify as a direct deposit.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if any early account termination fee is charged or not
Obviously very region specific so most readers won’t be eligible, but given it’s a soft pull it might be worth doing even though there are a lot of requirements to receive the bonus. If anybody does go for it then please share your experiences as you never know when it will come in handy.
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