[AZ, IA, In Branch] Bankers Trust $250 Checking Bonus

Update 6/19/24: Early account termination fee now much bigger:

Early closing fee of $250 will be charged if your Bonus Account is closed within 12 months of opening

Update 1/13/23: Deal is back, no end date listed. Hat tip to Gadget.

Update 5/27/23: Deal is back and valid until July 12, 2023.

Offer at a glance

• Maximum bonus amount: $100
• Availability: Must be a resident of Iowa or Arizona and open in branch
• Direct deposit required: Yes, see below
• Additional requirements: Yes, see below
• Hard/soft pull: Unknown 
• ChexSystems: Unknown 
• Credit card funding: Yes, up to $10,000, unsure if possible in branch
• Monthly fees: Up To $10.99, avoidable
• Early account termination fee: $50, 12 months
• Expiration date: December 31, 2022

The Offer

Direct link to offer

• Open a new BreakFree Checking Plus or Direct Checking Plus account and receive a bonus of $250 when you do the following within 60 days of account opening:
  • 25 debit card transactions
  • 2 direct deposits of at least $200 each

The Fine Print

• To be eligible for the bonus, you must open a BreakFree Checking Plus or Direct Checking Plus account (“Bonus Account”) in person at a branch with a minimum opening deposit of $25. To qualify for the bonus, the following transactions must post and settle through the Bonus Account within 60 days from the date of its opening:1) 25 debit transactions. A “debit transaction” for the purpose of this section means a debit to your Bonus Account that originated from an ACH, Bankers Trust bill payment, drafting checks, or use of your debit card as a method of payment or purchase. A “debit transaction” does not include debits to your Bonus Account that originated from ATM withdrawals or other debits to your Bonus Account; and,2) 2 direct deposits (ACH credits) or Express Deposits (aka mobile deposits) of at least $200 each. A “deposit” for the purposes of this section does not include ATM deposits, deposits made in person, account-to-account transfers, or other deposits to your Bonus Account.
• In addition, bonus eligibility will be verified 60 days after the Bonus Account’s opening. Bonus will only be credited if the account is currently in an open status with a positive balance. Should you have met all eligibility requirements and are not subject to the limitations and exclusions contained herein, the bonus will be credited to the Bonus Account within 75 days of its opening.
• Limit one bonus per household.
• Offer not available to existing Bankers Trust checking customers or those that have had a checking account with Bankers Trust within six months of Bonus Account opening.
• Employees of Bankers Trust and/or its affiliates are not eligible for bonus. Bonus Account must be opened by December 31, 2022.

Avoiding Fees

BreakFree checking account requires 12 debit card purchases to keep fee free and direct checking requires a direct deposit of $500+ to keep fee free.

Early Account Termination Fee

Early closing fee of $250 will be charged if your Bonus Account is closed within 12 months of opening

Our Verdict

Bonus is a bit annoying as the accounts are somewhat difficult to keep fee free. If you can still do the $10,000 in credit card funding then obviously it’s still a fantastic deal.

Hat tip to reader Gadget