[AR, IL, KS, MO, OK, TN, TX, Must Be Under 18] Simmons Bank $100 Youth Savings Bonus

Offer at a glance

• Maximum bonus amount: $100
• Availability: AR, IL, KS, MO, OK, TN, TX. Must be under 18
• Direct deposit required: None
• Additional requirements: Have a checking account or open one within 60 days of birthday
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Simmons Bank offers the Youth Savings Account. When the primary owner turns 18 if they have an account balance of at least $100 they will receive a $100 bonus as long as have open a positive balance checking account or opening a checking account within 60 days of their birthday (the Youth Savings Account converts to a Simply Savings account)

The Fine Print

• The Save10 Youth Savings account will convert to a Simply Savings account when the primary owner turns 18. To obtain the conversion bonus at age 18, the customer must have an open, positive balance checking account or the customer must open a checking product within 60 days of their 18th birthday (conversion date) and have a positive balance of greater than $100 in their Save10 Youth Savings Account at date of conversion. Accounts will pay the conversion bonus 180 days post-conversion
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The Youth Savings account has no monthly fee to worry about. Simply Checking has no monthly fee and neither does the Simply Savings account.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is an early account termination fee or not.

Our Verdict

Might be worth opening right before you or your kids turn 18 for an easy $100 if it’s a soft pull. If anybody goes for it then please share your experiences in the comments below.

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