[AZ, CO, IL, MO, NE, OK, KS, TX] UMB Bank $300 Checking

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Offer at a glance

  • Maximum bonus amount: Up to $300
  • Availability: Branches are in Arizona, Colorado, Missouri, Illinois, Nebraska, Oklahoma, Texas and Kansas [All branch locations here].
  • Direct deposit required: Yes, at least $500+
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees:
  • Early account termination fee: $30, 90 days
  • Household limit: None
  • Expiration date: May 22, 2021

The Offer

Direct link to offer

  • UMB Bank is offering a bonus of up to $300. Bonuses are as follows:
    • Open a UMB Convenience Checking and get a $100 bonus when you have qualifying direct deposits totaling $500 or more
    • Open a UMB Value Checking and get a $200 bonus when you have qualifying direct deposits totaling $1,000 or more
    • Open a UMB Select Checking and get a $300 bonus when you have qualifying direct deposits totaling $2,000 or more

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Convenience Checking ($100 Bonus)

This account has a $4 monthly fee. This is waived if you do any of the following:

  • $500 average collected balance in this account
  • An automatic transfer of $50 or more from this account to a UMB checking, savings, or money market account or UMB loan obligation is made during each monthly service charge cycle
  • Online Banking transfer of $50 or more to a UMB checking, savings or money market account during each monthly service charge cycle
  • Online Banking transfer of $50 or more to pay a UMB loan obligation during each monthly service charge cycle

Value Checking ($200 Bonus)

This account has a $8 monthly fee. This is waived if you do any of the following:

  • $1,500 average collected balance in this account
  • $3,000 in combined deposit balances
  • A single direct deposit of $250 or more
  • Student, under the age of 25

Select Checking ($300 Bonus)

This account has a $20 monthly fee. This is waived if you do any of the following:

  • $5,000 average collected balance in this account
  • $15,000 in combined deposit balances
  • $25,000 in combined deposit and loan balances
  • $30,000 in combined trust balances
  • $30,000 in combined brokerage balances

Early Account Termination Fee

There is a $30 fee if closed within 90 days

Our Verdict

We previously saw a Value checking account bonus that was for $300, that was better than this offer as that account is easier to keep fee free. I personally wouldn’t do this bonus as people have had so many issues with UMB Bank in the past, I’d recommend reading the comments of this post to understand why.

Hat tip to Theodore A

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