Offer at a glance
- Maximum bonus amount: $600
- Availability: AZ, TX, IA, IL, WI, CO, NM, MT, CA, MN, KS, MO
- Direct deposit required: Yes, four direct deposits of $1,000+
- Additional requirements: eStatements
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $2,000. No American Express
- Monthly fees: None
- Early account termination fee: $25 + bonus forfeit, 90 days
- Household limit: None listed
- Expiration date: August 31, 2021
The Offer
For direct link to offer, see links under ‘eligibility’
- Bank & Trust is offering a bonus of up to $600 when you open a Platinum or Signature series account and complete the following requirements:
- To receive a $200 bonus, four minimum direct deposits of $1000 or more must be posted to your new checking account within 120 calendar days of account opening.
- A $200 bonus will be paid if the account has at least a $20,000 balance 90 calendar days after account opening. If 90th calendar day falls on a weekend or holiday, balance on the following business day will be used to qualify for the promotion.
- A $200 bonus will be paid if the account has at least a $20,000 balance on 1/14/2022
- Same deal is available in states for $300, but requires a $10,000 balance instead of $20,000
Eligibility
- Arizona Bank & Trust (AZ). ($600 bonus)
- First Bank & Trust (TX) ($300)
- Dubuque Bank & Trust (IA) ($600 bonus)
- Illinois Bank & Trust (IL) ($600 bonus)
- Wisconsin Bank & Trust (WI) ($600 bonus)
- Citywide Banks (CO) ($600 bonus)
- New Mexico Bank & Trust (NM) ($300 bonus)
- Rocky Mountain Bank (MT) ($600 bonus)
- Premier Valley Bank (CA) ($600 bonus)
- Minnesota Bank & Trust (MN) (600 bonus)
- Bank of Blue Valley (KS & MO) ($600 bonus)
The Fine Print
- $600 bonus offer is not available to existing Arizona Bank & Trust consumer checking customers or those who have been paid a new account opening bonus since January 1, 2018.
- Bonuses only apply when opening a new consumer Platinum Checking or Signature Series Checking account at Arizona Bank & Trust or ArizBank.com during the promotional bonus period.
- The promotional bonus period is 6/8/2021-8/31/2021.
- If the account is closed by the customer or bank within 90 business days after opening, we may deduct bonuses earned and received at closing and a $25 account closing fee may be assessed.
- Closing the account will negate any unearned bonuses.
- All bonus dollars will be paid to the newly opened checking account.
- If multiple checking accounts are opened during the promotional bonus period under the same primary owner name, the bonuses will be paid to the account that was opened first.
- Limit one bonus per new consumer account relationship.
- To receive a $200 bonus, four minimum direct deposits of $1000 or more must be posted to your new checking account within 120 calendar days of account opening.
- Direct Deposit examples include payroll, pension, Social Security or other government benefits.
- A $200 bonus will be paid if the account has at least a $20,000 balance 90 calendar days after account opening.
- If 90th calendar day falls on a weekend or holiday, balance on the following business day will be used to qualify for the promotion.
- A $200 bonus will be paid if the account has at least a $20,000 balance on 1/14/2022. Bonuses will be paid by April 14, 2022.
- An IRS 1099 form may be issued. Only Platinum Checking and Signature Series Checking accounts are eligible for this promotion.
- No other checking accounts are eligible for the promotion.
Avoiding Fees
- Platinum checking has a $12 monthly fee, this is waived with a $7,500 average daily balance
- Signature series has a $9 monthly fee, this is waived with a $50,000 Average Daily Balance or $100,000 in total relationship balance
Our Verdict
Your best bet would be to open this close to the deadline as then you’d need the funds in the account for the shortest period of time. At minimum you’d need them in there for four and half months (really five months to be sure). Works out to be an annualized return of over 7.2% for the full $600 (really it’s more like 4.8% as you can get $200 of the bonus without the funds deposited). Good return for those looking to tie up some funds. They have had other bonuses in the past as well which might be a better option but they come around infrequently so will add this new bonus to the best bank bonus page.
Hat tip to reader XenaWP
