Offer at a glance
- Maximum bonus amount:Â $500
- Availability:Â TX only
- Direct deposit required:Â Yes, $500+ for first three statement cycles
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems: Unknown
- Credit card funding:Â Up to $1,000
- Monthly fees:Â None
- Early account termination fee:Â $100
- Household limit:Â One
- Expiration date:Â None listed
Contents
The Offer
- Legacy Bank & Trust is offering a bonus of $500 when you open a new checking account and complete the following requirements:
- Have a direct deposit of at least $500 post and clear within each statement cycle occurring in the first 90 calendar days of opening your account
The Fine Print
- $25 minimum opening account deposits.
- You will be paid $500.00 as a bonus on the first banking day following the end of the statement cycle during which the account qualifications are met. To be eligible for this bonus, you must have a direct deposit of at least $500 post and clear within each statement cycle occurring in the first 90 calendar days of opening your account.
- Your direct deposit must be an electronic deposit of your paycheck, pension, or government benefit (such as Social Security) from your employer or the government.
- Person to person payments (such as Zelle) are not considered a direct deposit.
- Offer not available for existing Legacy Bank & Trust checking customers, or those whose account have been closed within 90 days or closed with a negative balance within the last 3 years.
- Only one account allowed per household.
- Limit of one checking account opening bonus every two years from enrollment date and only one bonus per account.
- Must remain in this account type for 12 months from date opened.
- Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes.
- Early closeout fee of $100 will apply if account is closed within 365 days of opening.
- This fee replaces the closeout fee otherwise described in the fee schedule
- . Offer availability subject to change.
- 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 has no monthly fees to worry about.
Early Account Termination Fee
Early closeout fee of $100 will apply if account is closed within 365 days of opening
Our Verdict
Very big bonus with small requirements, definitely worth doing. I can see this being pulled early so if interested sign up sooner rather than later.
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