[FL, MS, NC, SC, TN, TX, VA only] First Tennessee $150 Visa Gift Card Business Checking or Savings Promotion

Offer at a glance

• Maximum bonus amount: $150
• Availability: Must open in-branch; Florida, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia have branches
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: N/A since you must open in-branch
• Monthly fees: $0–$7.50, waiveable
• Early account termination fee: Account must be kept open for six months, or bonus forfeit
• Expiration date: December 31, 2016

The Offer

• Receive a $150 Visa gift card when you open a new BizEssentials Basic Checking account with First Tennessee and complete the following:
  • Present a copy of the offer certificate upon opening the account in-branch, with promo code CKSMBS
  • Have a minimum opening deposit of $500
• OR, receive a $150 Visa gift card when you open a BizEssentials Savings account with First Tennessee and complete the following:
  • Present a copy of the offer certificate upon opening the account in-branch, with promo code SMBSSV
  • Have a minimum opening deposit of $2,500

The Fine Print

You don’t get a straight cash bonus, which is a negative, but the requirements for this are relatively easy for the BizEssentials Savings account. There’s no fine print stating that you need to keep $2,500 in the account for 6 months, so you can theoretically open the account with $2,500, wait a little while, and transfer most of your funds out. The BizEssential Checking requires you to tie up $5,000 for 6 months to avoid fees and is not worth it.

Technically, there is no explicit state limitation indicated on this offer, but you need to open the account in-branch, which limits its availability. For example, the only First Tennessee branch in Texas is Houston, making this uneconomical for most Texans.