Posted by William Charles on March 28, 2019
Bank Account Bonuses

Published on March 28th, 2019 | by William Charles

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[TX only] LegacyTexas $150 Checking Promotion

Update 5/19/19: Extended until July 8th, 2019

Update 3/28/19: Bonus is back and valid until April 30th, 2019. Unlike the $200 bonus this does not contain language stating ‘available to current LegacyTexas clients only’. Hat tip to reader Allen.

05/19/18: Bonus is back and valid until July 15th, 2018. Thanks to reader Chatan.

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: Must be a resident of texas
  • Direct deposit required: Yes, $300+
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: No
  • Early account termination fee: None
  • Expiration date: July 15th, 2016 September 30th, 2016 March 31st, 2017 December 31st, 2017 July 8th, 2019

The Offer

Direct link to offer

  • Open a new LegacyTexas maximum checking account and receive a bonus of $150 when you:
    • Have qualifying direct deposits of at least $300 into the account within 90 days of account opening

legacytexas

The Fine Print

  • $150 cash bonus offer valid with a new LegacyTexas Maximum Checking account opened between May 15, 2018 and July 15, 2018.
  • Limited to one per account.
  • Offer not available to existing LegacyTexas personal checking account clients, joint account signers or those who have closed a LegacyTexas personal checking account within 12 months of opening a new account as part of this offer.
  • LegacyTexas reserves the right to amend or cancel any part of this offer.
  • To receive cash bonus, you must set up a recurring direct deposit of $300 or more that posts to your new account at least monthly AND your first direct deposit must post within 60 days of opening.
  • If qualifications are met, cash bonus will be credited to your account 90 days after opening.
  • Account must be open and in good standing to receive cash bonus.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees or minimums on this account, according to this comment there is also no early account termination fee. Keep in mind you need to receive a monthly direct deposit or use online bill pay to make one bill payment per month otherwise your account can be downgraded.

Our Verdict

Pretty good bonus, we just need some data points on what counts as a direct deposit. If you can easily change your employer payroll I’d recommend this bonus. If you have any experience, share it in the comments. As always, in the mean time check out our recommended bank bonuses. I doubt it’s worth waiting  $250 bonus to come back because recent bigger bonuses have all contained the available to current LegacyTexas clients only language.

Useful posts regarding bank bonuses:



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Florian
Florian

I just opened one. Can only be funded by checking/savings account. Verification can be done instantly by providing credential. Funding amount is min of $100. Any datapoints on what counts as DD ?

Jared G
Jared G
262
262

Just applied.

Note that for some arcane reason, they need you to print, sign, and mail (or bring to a branch) some forms that most banks have you sign-off online.

PeaceandPost
PeaceandPost

yep got this as well after opening account. also expect a call from a banker with some “onboarding processes” he basically just reiterates the forms you need to send in, oh the joy of small banks.

Shawn
Shawn

They allowed me to email them.

262
262

I should also note that there is a fee schedule PDF that they require you to open when you apply. I didn’t see an early termination fee.

Brad
Brad

Crap… I totally didn’t see the part about having to be within Collin, Dallas, Denton, Parker, Tarrant, and Wise county….

Yet they didn’t prevent me from opening the account… Wonder if I should keep going and hold out for a chance at the bonus or give up….

Lisa J
Lisa J

Did you get the bonus?

Shaun
Shaun

This has been extended until 9/30/16, by the way.

PeaceandPost
PeaceandPost

anyone’s bonus post yet? opened accounts for wife and I around 7/1 and nothing yet. seems like original terms say 120 days from account opening but now the terms say 60 days from account opening so curious if they will follow their new terms or not.

Shaun Elrod
Shaun Elrod

I opened my account on 6/23 and haven’t seen anything yet.

Shaun
Shaun

$150 bonus posted today, 9/29. I must have gotten in before the county restriction because I’m down in Austin.

Opened 6/23, transferred $50 from Santander and $50 from Ally every month. I know that’s not a good DP since I don’t know which triggered the DD requirement.

payyoutuesday
payyoutuesday

Similar timing and result from a payroll DD.

Flo
Flo

I just received the bonus as well. Are you planning to close the account

Nick
Nick

Seems to be expired now, and I haven’t been able to find that it has been extended again.

Curmudgeon
Curmudgeon

Looks like bonus extended. HMB claiming until 12/31/17, but I can’t find any details about end date on the bank link. However, if you click on open an account the bonus code of MAX1 auto populates, so it’s working currently.

Mike B.
Mike B.

Direct deposit doesn’t seem to be a requirement on the current offer. According to the language, you can set up direct deposit *or* make just one bill payment within 45 days. Here is the relevant clause from point #1 of their disclosure: “To receive cash bonus, you must set up a recurring direct deposit or make at least one payment through Bill Pay within 45 days of opening. If qualifications are met, cash bonus will be credited after 60 days. Account must be open and in good standing to receive cash bonus.”

Point #3 of the disclosure also says “Texas residents only” so it does seem to be statewide.

Jay
Jay

Heads up on ChexSystems–the following text is included on the bottom of their secure email:

“*All accounts are verified through ChexSystems.*”

Although this isn’t a guarantee that it would be a hard inquiry, and I can’t confirm it yet (haven’t yet requested a new report/disclosure), the language does make a hard inquiry sound likely. Just fyi

Jay
Jay

Just got my latest CS report.

Can confirm that LegacyTexas put a hard inquiry on it.

THinDC
THinDC

Quick DP:

Account opened 7/26 with $100

Small bill pays 7/31, 8/22, 9/14. No bonus credited.

SM’ed and was told the funds are on the way. So confirmation that DD is NOT required if you use their clunky bill pay.

payyoutuesday
payyoutuesday

When you go to the offer itself, it says that the offer is good through 11/30/2017, not 12/31/17.

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