[TX only] Bank of Texas In Branch $150 Checking Promotion – Direct Deposit Not Required

Offer at a glance

• Maximum bonus amount: $150
• Availability: Must apply in branch, all locations in Texas [Branch locations]
• Direct deposit required: Optional
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown, but likely to be a cash advance anyway as it’s in branch only
• Monthly fees: $5.95 avoidable
• Early account termination fee: Six months, bonus forfeit
• Household limit: One, cannot have an open account in household
• Expiration date: December 30th, 2017

The Offer

Direct link to offer

• Receive $150 when you open a new Bank of Texas checking account and do one of the following within 60 days of account opening:
  • Set up a direct deposit ($250 minimum)
  • Make 10 debit card transactions (at least $10 per transaction)

The Fine Print

• $150 offer is valid for personal checking accounts opened at a banking center on 5/1/17 through 12/30/17.
• Offer is not available for account opened online, on account conversions, is not applicable to Student or Employee Checking accounts, and is limited to households that do not currently maintain a personal checking account with Bank of Texas.
• Accounts are subject to our standard eligibility and documentation requirements.
• $50 minimum opening deposit balance required.
• Bonus will not be considered part of the minimum opening deposit.
• Bonus cash is considered interest and is reportable on IRS Form 1099-INT. Limit one (1) per household. The $150 will be deposited ten (10) days after the conditions noted below have been met, if the account is open, active and in good standing.
• Requirements: Checking account must remain open for a minimum of six (6) months or the $150 will be debited from account during closing transaction.
• One of the following must be completed within sixty (60) days of account opening date:
• Set up a $250 recurring direct deposit such as Social Security, Pension or Payroll. Each recurring direct deposit must be a minimum of $250.
• Complete 10 eligible Debit Card transactions of at least $10.00 per transaction. ATM transactions are not eligible.
• We reserve the right to disqualify Debit Card transactions in circumstances where we reasonably believe they were not made in good faith.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest account to keep fee free is the access checking account ($5.95 monthly fee), this is waived if you do the following:

• Enroll in online statements.
• Use self-service options to complete deposits and withdrawals (ATM, Mobile, Online).

There is also an early account termination fee of $150 if the account is closed within 6 months.

Our Verdict

They previously offered a $100 bonus so this is $50 better. It’s nice that no direct deposit is required, but I doubt that ten $10 debit card transactions are going to fly with that fine print that they need to be made in good faith – that makes the bonus somewhat more difficult (but still pretty easy). We will be adding this to our best checking sign up promotion page. Please share your experiences in the comments.

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
• Banks That Allow/Don’t Allow Out Of State Checking Applications