This offer has expired, you can view the best checking promos here.
Offer at a glance
- Maximum bonus amount: $150
- Availability: Tennessee, North Carolina, Virginia, Georgia, Alabama, Mississippi, Arkansas and Kentucky only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: Up to $300
- Monthly fees: $5-$9, waive able
- Early account termination fee: Account must be kept open for six months, otherwise bonus forfeit
- Expiration date: December 31st, 2016
Contents
The Offer
- Receive a sign up bonus of $150 when you open a new checking account with First Tennessee and complete the following:
- Open account with the promotional code DB2016 (or present a copy of the printed promotion at a branch)
- Have an opening deposit of at least $300
- Receive at least one direct deposit within 60 days of account opening
The Fine Print
- Offer expires 12/31/2016.
- This offer is only available to residents of Tennessee, North Carolina, Virginia, Georgia, Alabama, Mississippi, Arkansas and Kentucky.
- To receive your bonus, you must open the checking account online (starting at ftb.com/metime) and ensure the code DB2016 appears in the online application where “Offer/Promo code” is requested, or open your account and present a copy of the offer at a financial center.
- You must have an opening deposit of at least $300, and at least one direct deposit must post to your account within 60 days of account opening. Opening deposit cannot be transferred from existing First Tennessee accounts.
- If you meet the stated requirements of this promotional offer, the $150 bonus will be credited to your account within 6 weeks of the first direct deposit and will be reported as income on Form 1099-INT.
- Limit one bonus per household.
- This offer is for new checking households only, or for households who have not had an open First Tennessee checking account in the previous 12 months.
- Customer agrees to maintain account in good standing for a minimum of six months.
Avoiding Fees
There are four accounts that can be opened for this bonus: Express Checking, Premier Checking, Classic Checking, Select Checking.
Express Checking $7 Monthly Fee
This is waived as long as you have at least one direct deposit in the month.
Premier Checking Account $12 Monthly Fee
This is waived if you have a minimum of $5,000 in combined monthly balances (checking, savings, bank IRAs or CDs).
Classic Checking $8 Monthly Fee
Cannot be waived
Select Checking $9 Monthly Fee
This is waived if you have at least one direct deposit and 15 customer-initiated debit transactions.
Early Account Termination Fee
Fine print states that the account must be kept open and in good standing for six months, I assume they take the bonus back if you don’t fulfill this requirement.
Our Verdict
First Tennessee have had bigger offers in the past, but they haven’t been open to as many states as this recently and the bigger offers have been targeted as well. It’s a bit of a line call on whether you should grab this offer or wait for a higher bonus of $250/$300. If you’ve already completed the other bonuses found on our checking promotion page then maybe give this one a go. Otherwise do those first and hope for a better offer from First Tennessee while you wait.
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 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
FYI, it looks like their fee schedule has changed since you wrote this post. I just opened an account, and the fee schedule is as follows:
Premier = $12/month (waived for $5K combined balance)
Select = $9/month (waived for 1 DD and 15 customer-initiated debit transactions per cycle)
Express = $7/month (waived for 1 DD per cycle)
Classic = $8/month (un-waivable)
I’m in Georgia if that might make a difference.
Thanks, updated post.
Applied in branch in Nashville two weeks ago and received the bonus today. Two days after meeting the direct deposit requirement. Easy promotion.
Anyone needs referral so both of us can get extra $50 Visa reward bonus?
Referral link:
https://www.referlive.com/firsttennessee/newcustform/3A16C43D12C8/10/0890058F3X5EZZJ/3394608/ET
PS. Make sure you register for the referral and open for the account using the same email address.
TIA.
ACH push from Discover Checking triggered the DD requirement for me in July of 2015.
Thanks added
On top of the $150 bonus, I was able to get another $50 after signing up for the account.
I used DoC’s link first to open the account, then entered my information here:
http://bit.ly/2b3BKI0
I received the $150 first, and then a few weeks later the $50 visa card arrived in the mail.
Additional reqs:
1) Open with at least $100, AND
2) Complete TWO direct deposit transactions of AT LEAST $100 EACH within 60 days
Can anybody else confirm that signing up for referral works fine?
I received a confirmation page and referral email after going through the referral page linked in Sarah’s comment just now, so it looks like it still works.