Deal has ended, view more bank account bonuses by clicking here.
Update 1/14/23: No end date listed
Offer at a glance
- Maximum bonus amount: $500
- Availability: TX only
- Direct deposit required: Yes, $2,500+ per month for three months
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $25, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: January 13, 2023
Contents
The Offer
- Texas Capital Bank is offering a $500 bonus when you open a Premier checking account and complete the following requirements:
- Fund your account within 30 days with at least $25,000
- Maintain an average monthly balance of at least $25,000 for 90 days
- Set up deposits totaling $2,500 per month, for the first 3 consecutive months.
The Fine Print
- Eligibility: To be eligible for the offer, your Texas Capital Bank Premier checking account must be open without being changed to a product with lower requirements and in good standing at the time of fulfillment.
- Limit one cash bonus offer per customer, including all individual and joint accounts.
- Customers (Primary or Secondary) who have a current or past Texas Capital Bank deposit account within the past 6 months from account opening date are not eligible for this offer.
- Qualifying electronic direct deposits or transfers include, but are not limited to salary, pension, Social Security, or other regular monthly income deposited through the Automated Clearing House (ACH) network to this account by your employer or an outside agency, totaling $2500 per month for 3 consecutive months, starting from the 1st calendar month after month of account opening.
- The cash bonus to your Texas Capital Bank eligible checking account will be reported on the applicable IRS form.
- Texas Capital Bank employees are not eligible for this offer.
- All promotional offers, products and services offered by Texas Capital Bank are subject to updates, modifications and/or termination by Texas Capital Bank.
- 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 a $25 monthly fee, this is waived if you have a deposit of $25,000+.
Early Account Termination Fee
Our Verdict
You’d earn $250 in interest if you put the $25,000 into an account earning 4% APY for three months, so this is actually a smaller bonus than it looks. Still worth doing for some people if you have the spare funds and have done the bigger/better bonuses available. We also don’t know if there is a soft/hard pull or if it’s a ChexSystems sensitive.
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
just received 1099 and they filed 10 bucks instead of $500.. did anyone receive the same?
They have a current offer for up to $700 running until August 1.
$10,000 tier for $500 bonus looks really good. I don’t see a way to open online though; not sure how much scrutiny they’d give to someone who doesn’t have an actual bona-fide business.
Terms here: https://www.texascapitalbank.com/sites/default/files/documents/Disclosures/TCB-Small-Business-Banking-Promotional-Offer-Terms.pdf
Going to call the Plano branch next week and see if I can do it over the phone or have to go in.
This deal is back – now $600.
https://www.texascapitalbank.com/small-business-banking
Looks like they pulled the offer.
How do you interpret the requirement “Maintain an average monthly balance of at least $25,000 for 90 days.”
Do you think this metric starts 1) when you open the account, 2) once you first deposit $25,000 or 3) starting the first calendar month after opening (like the direct deposit timing.)
I think the metric starts from when you deposit the funds. However, the 90 days average monthly balance is confusing.
With that in mind the best play is to fund around the 30th with the first DD starting in February. That way you meet all of the requirements, and the bonus should post to the account around 5/1.
Based on the information provided, we cannot open a Texas Capital Bank account for you at this time.
Ref Code – RC300
1. I answered NO to all questions on how I was going to use the account. Originally, I answered Yes to ACH transfers.
2. I provided a valid Cell number. Originally, I used my VOIP number.
I’m not sure which item fixed the problem, but my guess is they needed an actual cell number versus the VOIP number I originally submitted.
If you answered YES to any of their questions or didn’t provide a cell number, you might try again. Good Luck 🙂
If I do fund transfer from another bank, does it count as Direct Deposit?
Well, they own Bask Bank paying 4.03 % as of today. No strings. I have this acct and no problems. $25k for a deposit to TX Capital? and 3 $2500.00 DD? No.. We do not know what they consider a DD either.
Doesn’t seem to be a hard pull since I didn’t get ten credit monitoring emails like I usually do. No credit card funding, doesn’t even ask you to fund during the opening process.
Just leaving $25K in a 4% account for 3 months nets $250, so bonus not as good as it might seem.
$25K for 3 months for a $500 bonus is an 8% return – double the rate a of a 4% account. So, it’s not as bad as one might think.
That and there is $2500dd reqt
2.5k per month so throw that into the calculation, 27,500 for month 1 (x 4.35%)=$300