Update 10/24/20: Bonus has been increased to $200. Hat tip to reader J Money
Update: New link found works for branches in VA, WV, OH. Thanks to reader Gadget.
Offer at a glance
- Maximum bonus amount: $100
- Availability: VA WV OH in branch only. [Branch locator]
- Direct deposit required: Yes, $200+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: One
- Expiration date: None listed
- City National Bank is offering a bonus of $200 when you open a new city checking account with direct deposit of $200 or more
The Fine Print
- Bonus: Limited time offer. To earn the $200 direct deposit bonus, you must establish a qualified recurring direct deposit of $200 or more into the account.
- The bonus will be deposited into the new account 91 days after account opening.
- Limitations: The bonus cannot be used as the opening deposit.
- Offer not available to existing checking account customers, those with fiduciary accounts or those whose account has been closed.
- Limit 1 bonus per household.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
They offer a simply free checking account with no monthly fees to worry about. There is an early account termination fee of $25 if you close the account within 180 days.
I generally don’t recommend $100 bonuses that must be opened in branch, but might be worth it for some if they live near a branch. Purely because it’s usually a lot of work for a $100 bonus that is also taxed. Because of this I won’t be adding it to our best bank bonus page.
Big thanks to reader, KK who let us know. Learn how to find bonuses and contribute to the site here.
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