[Expired][Targeted] Commerce Bank $300 Checking Bonus – Direct Deposit Optional [MO, KS, IL, OK & CO]

This deal has expired, view more Commerce Bank deals by clicking here.

Update 10/7/18: Offer has been extended through October 25th. Updated the link below. (HT reader fastlanesimmons). Keep in mind this time it doesn’t show a promo code and says you need to use the one from the mailer you received, so likely targeted.

Warning: People with a lot of ChexSystems inquiries have previously been approved and then had their accounts closed at a later date. Read previous posts for more data points. This deal is public whereas older deals have been targeted so it’s possible things have changed

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Missouri, Kansas, Illinois, Oklahoma and Colorado
  • Direct deposit required: Optional
  • 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: None listed
  • Expiration date: September 15th, 2018 October 25, 2018

The Offer

Direct link to offer

  • Commerce Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
    • Use promo code DIGITAL300 (? – new link doesn’t show any promo code, here’s the old link for comparison)
    • Do one of the following:
      • Have at least two direct deposits of any any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $300 or more within 90 days of account opening
      • Use your debit card to make 10 purchases within 90 days of account opening
    • You must have a minimum balance of $100 on December 14th, 2018

The Fine Print

  • There are 2 options to qualify for the $300 incentive: 1) have at least two direct deposits of any combination of a paycheck, pension payment, Social Security payment, or other government benefits payment of $300 or more, each electronically deposited into your new CommerceRelationship Checking account from an employer or outside agency within 90 days of account opening. We reserve the right to verify documentation that the direct deposits qualify. 2) Use your debit card to make 10 purchases from your new CommerceRelationship Checking account within 90 days of account opening.
  • Additional requirements to qualify for the incentive: 1) Your CommerceRelationship Checking account must be opened by September 15, 2018; 2) The account must have a minimum balance of $100 on December 14, 2018; 3) You must provide the promo code from this offer at the time of account opening. 4) You must be a new customer: one who has not owned a Commerce Bank deposit account in the 90 days prior to account opening.
  • We will determine whether all requirements for the incentive have been met as of December 14, 2018, and any incentive earned will be paid January 2, 2019, by crediting your CommerceRelationship Checking account. Maximum total incentive $300.
  • The incentive will be reported as interest to the IRS. Commerce Bank reserves the right to determine eligibility for offer, and offer may be revoked, restricted, or changed at any time at Commerce Bank’s sole discretion.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The $20 monthly fee on this account is waived if  you have:

  • $5,000 average daily balance in this account OR
  • $15,000 in combined deposit balances

Early Account Termination Fee

According to this comment no early termination fee is charged. Keep in mind the account needs to be kept open until December 14th and have a balance of at least $100 at that stage.

Our Verdict

Previous offers didn’t have a public promo code, in addition this has been advertised on Facebook so it should definitely be publicly available. This is obviously a great bonus, nice and big with no direct deposit required. Keeping the account fee free is a bit of a pain as it does required a $5,000 average daily balance but if you can float the funds then it is worth doing. Just keep in mind that they might be ChexSystems sensitive (and close accounts after a few days). This will be getting added to our list of the best checking bonuses.

Big thanks to reader, adp5x7 who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:
    William Charles
  • On October 7, 2018, 12:30

View Comments (93)

  • I recently got a mailer in Colorado for a similar offer - targeted code "Vacay619". $300 bonus for 10 debit card transactions within 60 days. Applied and approved instantly, but account was shut down after 4 days (3 business days) due to ChexSystems. :(

  • "We regret to hear that you would like to close your account.

    In order to close your account, you may come by any Commerce location, bring your account to a zero balance (if your account stays at a zero balance for one complete statement cycle with no debits or credits posting to the account it will automatically be deleted from our system) or send us a notarized letter of instruction to close your account."

    SCREW COMMERCE

  • has anyone closed hteir account after bonus now? was it very easy over secure message and/or phone? they haven't replied to a secure message i sent aobut something else for over a week now so i assume calling is best? do they give some bs about having to go in branch to close, or is it not a problem over the phone?

  • No info on Commerce yet on the "Complete List of Ways to Close Bank Accounts" page. Anyone had an experience closing one of these accounts and know what works (e.g. phone, secure message, e-mail, post, branch)? Hoping for some guidance, but I'll report back in a few days about my experience one way or another. BTW, my bonus posted 1/2. :)

    • please report back. commerce has been a huge pain for me and they even tried denying me the bonus and not paying out. i had to argue over the phone and email to plead my case and now they agreed they will be paying me today.

      i cant wait to close this one. i hope to hear you were able to do it smoothly over the phone. please let us know

        • Just called in and they refused to close it. Claimed I have to leave it with $0 for 30 days and it’ll close automatically

          • good lord..and i bet they're gonna screw you with a $20 charge fee then its negative. this is a nightmare

          • That’s what I told them. I’ll probably call again.....can’t stand this bank! Already screwed me out of $20 even though I had the money in the account

          • I still haven't gotten around to closing - had a lot of other personal issues to take care of. If that's what they say, I would tend to believe it. I have gotten dinged for their monthly fee a couple of times and neither time did I have enough in the account for them to charge the entire fee, so they just brought my balance to zero, but collected the remaining portion of the fee retroactively the next time I deposited funds. In other words, it seems they won't overdraw your account to charge the monthly fee, and if you have a $0 balance, it won't get charged unless and until you make a deposit. That has been my experience. I expect to finally get around to closing very soon and will follow up afterward.

  • unbelievable. my bonus should have posted january 2, i met all requirements. i called yesterday and commerce just emailed today saying th aren't paying me the bonus because they are saying it was a mailed targeted offer and i wasnt targeted...

    i applied online back in september and there was no targeted indiciation, i recall this was public...

    do i have any way to fight this?

    • it was a public offer, advertised on FB, etc. (https://www.commercebank.com/digital300)

      my bonus did not post 1/2, so i sent messages thru online system with no reply and eventually called 1/8. phone rep filed a form on my behalf and said to check back friday 1/11. commerce is a local bank for me and i actually did receive several mailers for this same offer. i will be calling up and raising hell, and probably eventually filing a CFPB complaint (i've never done one before, maybe it'll work).

      i hate commerce and was hoping on closing the account 1/2 after bonus. now i gotta deal with this shit.

  • Just got off the phone with them and they said they were looking into why it hasn’t been paid.

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