[Expired] Fifth Third Bank $200 Checking Bonus [FL, GA, IL, IN, KY, MI, MO, NC, OH, PA, TN, WV]

This offer has now expired, but there is a new better bonus for $200.

• Maximum bonus amount: $200 
• Availability: Only in the following states: FL, GA, IL, IN, KY, MI, MO, NC, OH, PA, TN, WV (may be only for those within a 50-mile radius of a branch). Must open in-branch, not online; fine print indicates that over the phone is an option as well at 1-866-671-5353. Must present coupon for either option.
• Direct deposit required: Yes, no minimum mentioned; in the past, it’s needed to be $100 minimum. Click here to see what’s been working for the direct deposit requirement.
• Additional requirements: Three bill-payments
• Hard/soft pull: Soft
• Credit card funding: None
• Monthly fees: $11-$25, waivable
• Early account termination fee: None listed (there has been some mention of a nine-month requirement in the past so it may be worth verifying)
• Expiration Date: January 16, 2015

The Offer

Direct link to offer

• Receive a sign-up bonus of $200 when you open a checking account with Fifth Third bank and completing the following:
  • Set up a direct deposit ($100 minimum in the past)
  • Pay three bills online using Fifth Thirds online bill payment service

Enter you email address to receive the coupon – it comes within minutes.

The Fine Print

• Expires January 16, 2016
• Requirements must be fulfilled within 90-days of account opening
• Must present coupon code at a banking center or during the phone call to receive bonus
• Offer not available to existing checking customers or to those with a Fifth Third checking account that has been closed within the last 12 months
• Offer not available to new Fifth Third checking customers in Northeast Ohio
• Bonus offer available to new consumer checking customers, excluding Fifth Third Basic Checking, Fifth Third Private Bank products, and Business checking accounts
• Limit of one new account-related gift incentive per calendar year
• Bonus will be deposited within 6 weeks of meeting requirements
• One bonus offer per account per household
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest option for most is to choose the Essential Checking account which has an $11 monthly fee. The fee can be waived by maintaining an average monthly balance of $1,500 or more across your savings and checking accounts.

The fine print indicates that the Military Banking and Student Banking accounts should also work for this bonus.

• If you are in the military, choose the Military Banking option and you’ll have an additional option for getting the monthly fee waived by receiving $500 in direct deposits each month.
• If you are a high school or college student age 16+, choose the Student Banking option for no monthly fee at all.

Our Verdict

Pretty good bonus overall; the direct deposit requirement has been easy to fulfill in the past, and the bill payments shouldn’t be a hurdle for anyone. There is $1,500 getting tied up here (unless you are a student), but that should be worth it for the $200 bonus.

Assuming the phone option works as indicated, this offer can be used by even those who aren’t especially close to a branch.

HT: reader Vijay