Offer at a glance
- Maximum bonus amount: $200
- Availability: Doesn’t seem to be any way to open online, so must be in branch only. All branches are in CO [Branch locator]
- Direct deposit required: Yes, $500+
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Six months, bonus forfeit
- Household limit: None
- Expiration date: August 31st, 2017
The Offer
- Advantage Bank is offering a bonus of $200 when you open a new Advantage checking account and complete the following requirements:
- Make an initial deposit of at least $100
- Set up a single or multiple direct deposits totaling $500 or more within the first 40 business days of account opening
- Enroll in online banking and make 10 posted debit card transactions within the first 40 business days of account opening
The Fine Print
- In order to qualify for the $200 bonus, you must make an initial deposit of $100 or more into an Advantage Checking account and set up single or multiple direct deposits totaling $500 or more within the first 40 business days of account opening.
- The direct deposit must be new to Advantage Bank and be payroll, pension, Social Security or other government benefits.
- You must enroll in Online Banking and make 10 posted debit card transactions within the first 40 business days of account opening.
- If all requirements are met within the first 40 business days of account opening and the account is in good standing, the $200 bonus will be deposited into your new checking account between 40 and 60 business days of account opening.
- The $200 is considered interest and is subject to IRS for tax reporting.
- The $200 will be deducted if the account is closed within 6 months of opening. T
- he offer is not available to existing customers or Advantage Bank employees.
- To qualify, you cannot have closed prior Advantage Bank account within the past 90 calendar days or previously closed an account with a negative balance.
- Limit one bonus per customer.
- This offer is valid through August 31, 2017.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Account must be kept open for six months otherwise you forfeit the bonus. Advantage checking has no monthly fees to worry about.
Our Verdict
Quite a few requirements for the bonus and it’s in branch only but at least there is no monthly fee to worry about. Worth doing if it turns out to be a soft pull. As always if anybody decides to sign up then please share your experiences in the comments below. Won’t add it to our best bonus list until we know more.
Big thanks to reader, William who let us know. Learn how to find bonuses and contribute to the site here.
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
direct link doe snot work and no bonus on the website
Note the “Offer expires Aug. 31, 2017” part!
I live in CO and would be willing to give this a shot. Can’t do it until next week though, so if any other Co residents try it, let us know about ChexSystems and hard vs soft pull.