[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:
    William Charles
  • On August 24, 2024, 10:00
Tags: direct deposit not requirednationwide bank bonusesno credit card fundingsoft pull

View Comments (48)

  • Can anyone help me. I did the $1000 mailer in July for $10k+ DD but it had to be specifically in September. I called a branch and someone there said there wouldnt have been an issue starting it whenever. Basically had the $12k DD (real DD) in August but now they're saying because I didnt do it in Sept that they most likely wont give it to me in October 31st (payout date).

    I even tried escalating it. Can I do anything about this? I'm super frustrated. Can the Consumer Fed Bureau do anything about it? @2 @6

    • Banks are all about rules. Sometimes they will let something slide, or we "trick" the system to get a preferred result, but not for everything. All you can do is to ask them to reconsider, if you fulfilled the spirit of the promo.

      If you have a "name" for that "someone" who advised you, you might stand a chance.

      You can submit a CFPB complaint if you want, with as much information that you can remember. The bank might change their mind, or they may not.

      Lesson #1... reps are NOTORIOUS at every bank for not knowing about the promotions and often shoot from the hip with their partial understanding of the terms.

      Sometimes you just take the loss and learn the lesson. It happens. The onus is on you to meet the terms. @guest_1938507

  • Opened new account using $700 personalized mailer. I was not given the option to fund with a CC. I had an account with them years ago and they still had information on my main bank so I funded that way.

  • Got a new flyer. Still has language that only the name/address on the flyer qualifies for the $300 bonus.

    commercebank.com/FreeCheckingBonus
    Promo code AUG24Free
    Open by 10/8/24, add funds within 30 days.
    10 debits by 12/10/24
    Must have at least $300 in account by 12/10
    Bonus paid on 1/9/25
    Limit one per household

  • Wife always gets targeted and has to walk in.1 mile away. Don't mind the exercise but c'mon.

  • The $300 bonus with no direct deposit sounds great, but looks like that’s not the current offer?

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