[Expired] [Targeted] Commerce Bank $300 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 8/24/24: Deal is back until 10/8/24.

Update 7/27/24: Deal is back until September 30, 2024. 

Note: The terms state this is for only the direct recipient of this offer. It is being advertised on Facebook & Instagram but I wouldn’t recommend applying unless you actually see the advertisement yourself.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide?
• Direct deposit required: None
• Additional requirements: Direct deposit or 10 debit purchases
• Hard/soft pull: Soft pull
• ChexSystems: Yes, sensitive
• Credit card funding: None
• Monthly fees: $20, avoidable
• Early account termination fee: None
• Household limit: One
• Expiration date: February 27, 2024

The Offer

Direct link to offer

• Commerce Bank is offering a $300 checking bonus when you open a new checking account:
  • New checking customers: Use promo code  Jul24ChkDD.
  • Open a new Commerce Free Checking account by February 27, 2024.
  • Make 10 debit card purchases within 60 days of account opening.
  • Have at least $300 in your account at the end of nightly processing, 60 days after account opening.

The Fine Print

• This offer is not intended for the general public. Limited-time offer. Offer and promo code are not transferable and is only valid for recipients of mailed offer. This offer cannot be combined with any other checking offers or promotions. Only one offer per household. Name and address on new account must match the mail piece to be eligible for the bonus.
• To qualify for the $300 bonus: a) You must provide the promo code above at the time of account opening; b) Your new Commerce Free Checking account must be opened by February 27, 2024 and funded within 30 days; c) You must complete at least 10 purchases using your associated debit card within 60 days of account opening. ATM withdrawals, pending transactions and withdrawals at a branch using your debit card are not qualifying transactions; d) Account must have a balance of at least $300 after all transactions, fees and charges have been applied at the end of nightly processing, 60 days after account opening; and e) You must be a new checking customer, meaning one who has not owned a Commerce Bank checking account in the 12 months prior to account opening. We will determine whether all requirements for the bonus have been met, 60 days after account opening. If you have completed all the above requirements and your account remains open, your bonus will be paid approximately 90 days after account opening, by crediting your Commerce Free Checking account. Maximum total bonus $300. The bonus will be reported as interest to the IRS. Commerce Bank reserves the right to determine eligibility for offer using Commerce Bank’s records. Offer may be revoked, restricted, or changed at any time at Commerce Bank’s sole discretion. Annual percentage yield 0.00%. Fees could reduce earnings on the account.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Free checking account obviously has no fees to worry about ($200 bonus). Commerce Relationship ($500 bonus) has a $20 monthly fee. This is waived if you do any of the following: $5,000 average daily balance in this account OR $15,000 in combined deposit balances (checking, savings, money market, CD, and retail IRAs)

Early Account Termination Fee

According to this comment no early termination fee is charged.

Our Verdict

Looks to be a good bonus but unfortunately very restrictive and also very chex systems sensitive. Because of all that we won’t add this to our best bank bonus page.

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