[Expired][VA, MD only] First Bank $300 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 5/24/23: Bonus now $300.

Update 3/2/21: Bonus has been increased to $200, but now requires a direct deposit.

Update 5/14/20: Deal doesn’t require direct deposit any longer. Hat tip to reader MERJ

Update 8/18/19: Deal is available again

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: VA only, when you go to open an account online it lets you input any zip code. On the following page it’ll say you’re ineligible if you use a state other than VA. If anybody gets other states to work, let us know. Might need to live within 100-150 miles from a branch (but you won’t be auto denied online if this is the case) More info here. MD worked as well, within 50 miles of a branch.
  • Direct deposit required: No
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $1,000
  • Monthly fees: $7, avoidable
  • Early account termination fee: Unknown
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • Receive a bonus of $300 when you open a new First Bank checking account and receive a direct deposit

 

The Fine Print

  • Offer available to new First Bank checking account customers (those without current First Bank checking accounts) who open a new First Checking account online.
  • To receive $100, you must open a new First Checking account in our Online Application Center and sign up for a recurring $250 minimum direct deposit into this account.
  • This limited-time offer may end at any time.
  • Your reward will be deposited in your new First Bank checking account once the account has been open for 90 days, the first qualifying direct deposit has been received, and the account is in good standing.
  • Subject to approval.
  • Limit one per household.
  • The $100 will be reported on Form 1099-INT for tax purposes.

Avoiding Fees

Monthly Fees

You can waive the $7 monthly fee with any of the following:

  • Average monthly balance of $500+
  • Direct deposit of $1,000+

Early Account Termination Fee

There is a fee if the account is closed within 60 days (account needs to be kept open for at least 90 days anyway).

Our Verdict

Previously they offered a bonus of up to $200, it was the same as this current bonus but they also had an option for $200 that required a different account that was much more difficult to keep fee free. The credit card funding is nice but it looks like they often close accounts after they have been opened due to not living close enough to a branch so keep that in mind. I’ll be adding this to the best checking bonuses.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

View Comments (65)

  • Doesn’t work for Charlottesville area either. (center of the state, yet does work for Ruckersville, Waynesboro, 15 minutes to the north & west) weirdly irritating.

    does appear to still require an auto deposit.

  • DP:

    12/21: Account Opened
    12/22: Funded with $100
    12/29: $400 Real DD
    Jan/Feb/March: $1000 DD to avoid service fee
    3/19: $300 Bonus Paid Out

  • I opened this account in Nov and my first (and only) DD posted in Dec for $1000. Any DPs on how long it takes for the bonus to be deposited? Re-reading the terms (recurring direct deposit) I am wondering if I need to have a DD every month until I get the bonus.

  • I live 83 miles from a branch and was turned down. I asked them what they considered their service area and the person stated <25 miles from a branch. Given their locations, In skeptical that anywhere in Maryland is within their service area.

    • Hagerstown & Frederick are roughly 50 miles to the Winchester branch. That’s all I would guess would possibly work even that’s a stretch.

  • Just a thank you to DOC. I live about 3 miles from a branch and was easily able to get this promotion. Would never have known about it without this blog. Thank you :)

  • This bonus is NOT churnable, at least I wasn't able to (despite the terms just saying New Customer means someone without a current account).

    I had an account and did the $200 bonus at the beginning of 2022 then closed the account in June 2022. I opened a new account this morning through the website and received an approval. I then got an email about 2 hours later from someone at the bank stating that I'm NOT eligible since I had a previous account. Bummer.

  • Appears that you now need to enter a zip code that's very close to a physical location. This bank has locations near I-81 in Virginia, plus a location in Richmond. Doubtful it'll work for any Maryland zip codes.

  • I'm 5 miles from the nearest branch, didn't work for me. If I enter a zip code 2 miles away, it works. Bizarre!