[Expired] [AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV] BB&T $600 Checking Bonus

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Offer at a glance

• Maximum bonus amount: $600
• Availability: AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV
• Direct deposit required: Optional
• Additional requirements:
• Hard/soft pull: Soft pull It seems like they are very persistent about overdraft protection so make sure you don’t opt in for that
• ChexSystems: Yes
• Credit card funding: Up to $250 (says debit card only, but credit cards will work)
• Monthly fees: $30
• Early account termination fee: $25, 180 days
• Household limit: One
• Expiration date: February 26th, 2020

The Offer

Direct link to offer

• BB&T is offering a bonus of $600 when you open a new BB&T Elite Gold checking account and use the promo code BADGG and complete one of the following requirements:
  • Deposit $35,000 within 30 days of account opening and maintain the minimum balance of $35,000 for 75 days OR
  • Set up and receive direct deposits totaling $3,000 or more within 75 days of account opening

The Fine Print

• Offer is available for new BB&T clients who open a BB&T retail checking account.
• “BB&T will review the account between 75-90 days of account opening. The $600 bonus will be deposited into your new Elite Gold account within four weeks of the account eligibility review.”
• Normal minimum opening balance requirements apply.
• Offer is limited to one incentive per household and does not apply to second or multiple personal accounts.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This bonus requires the Elite gold checking account. You can avoid the monthly fee on this account if you meet any of the following requirements:

• $25,000 combined deposit balance in checking, savings, CDs, IRAs, Money Rate Savings, Investor’s Deposit Account, or investments through BB&T Investment Services, Inc.
• $25,000 combined outstanding balance in retail loans and lines of credit3
• $150,000 BB&T personal mortgage loan balance

In PA & NJ the requirement is only $15,000 in combined deposit balances. Monthly fee is also only $15 in NJ.

Early Account Termination Fee

All accounts come with a $25 early account closure fee if you close them within 180 days of account opening. In addition accounts must be open at the time of bonus posting

Our Verdict

Technically I think these are supposed to be targeted, but in the past they have worked for everybody. Last time we saw an elite checking offer the bonus was $400, but requirements were easy to meet.  It didn’t really matter that the requirements were easier though as you still needed big balances to keep the account fee free. You’ll need to basically tie up $25,000 for 180 days to trigger the bonus and keep the account fee free and avoid the early account termination fee, works out to be a return of 4.8%. Might be able to do better and just close the account after the bonus posts and pay the $25 early closing fee. I’ll be adding this to our list of the best checking account bonuses.

Hat tip to reader S C

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• 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
• Bank Bonus Posting Times