Offer at a glance
- Maximum bonus amount:$250
- Availability:Â IA only and restricted to the following Counties: Benton, Buchanan, Cedar, Delaware, Iowa, Johnson, Jones and Linn
- Direct deposit required:Â Yes, no minimum
- Additional requirements:Â None
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees:Â None
- Early account termination fee:Â $15, six months.
- Household limit:Â One
- Expiration date:Â None
Contents
The Offer
- FSB Bank is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Receive a direct deposit within 30 days of account opening
The Fine Print
- *To qualify for the $250 bonus, a primary checking account with direct deposit is required.
- The bonus will be deposited into your checking account within 30 calendar days of the first payroll direct deposit posting to the account.
- Limit one $250 bonus per household.
- Subject to account approval and 1099 reporting.
- May not be combined with other offers.
- See product information for additional requirements specific to each account type.
- A minimum $50 deposit is required. Excludes Benefit Banking Plus.
- Must be 18 or older.
- The program may be suspended or reactivated with 30 days’ notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
High 5 rewards checking account has no monthly fees to worry about.
Early Account Termination Fee
Premature Account Closure of $15 if closed within 6 months after opening
Our Verdict
Seems like a relatively easy bonus but we know nothing about this bank. If anybody goes for it then please share your experiences in the comments below.
Hat tip to ShawntheShawn
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
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- 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?
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- 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
Has anyone received the bonus for this offer? I’m sitting at 30+ days since first direct deposit.
Yes, only one week after transfer from Fidelity.
3/29 Application submitted, received call from banker within 2 hours asking for additional address verification (address on driver’s license is not current and out of footprint)
4/2 Account opened
4/4 Funded $500 via Wells Fargo Active Cash Visa, coded as purchase
4/12 Transfer from Fidelity $307
4/19 $250 bonus posted
Appears I had some trouble getting the bonus with this bank.
3/26 – Account opened $500 CC deposit
4/12 – $15 Allotment DD (employer)
4/26 – $15 Allotment DD (employer)
5/10 – $15 Allotment DD (employer)
5/15 – Called requesting update on bonus as 30+ days since initial DD.
*Banker stated they are looking for full paycheck, lifelong customers and for them to have this as a primary and main checking account. Advised banker none of this was in the terms and conditions on minimum DD and monthly balance req. Banker stated they would talk to supervisor and or banker who opened my account.
Banker called back hours later stating when I opened my account the banker who spoke with me advised they wanted me to open this account under the assumption that I would have this as a primary checking account for full direct deposits and use it to pay bills out of. Once again I advised the banker none of this was in your terms and conditions. I pushed back and advised if they will not honor the promo I will have to file a complaint with CFPB at which he laughed at and advised he would direct this issue to the marketing team.
5/16 – Received a call from the banker who opened my account and advised the promo would post tonight.
5/16 – NEXT LEVEL BANKING REWARD 250.00
I live in one of the counties, and this looked tempting, so I tried to open an account online. But I had to give up. This little bank’s server software is very fussy about your browser. At first I used Firefox on a Mac, and the server did not show me the bonus offer at all – it steered me to some other page. I then tried Chrome on a Mac, and that worked better, I could see the offer and start a new account application, but close to the end of the process it bombed out when it wanted me to confirm receiving an email, which resulted in my opening a Safari browser window, and at that point server refused to let me proceed. So I gave up. Maybe if did everything with the same non-Firefox browser it might have gone better.
Fasten Seat Belt to Bank $250 Checking Bonus on F1 racing track?
Kind of an unfortunate name. Doesn’t really instill trust in protecting your privacy…
I did bonus with this bank in April 2023. I live in one of the counties listed. It was NOT a hard pull. It did show on my chex report. They did have a banker reach out to me several times (assuming just a courtesy call) as I did not call them back. Used real DD with employer. Bonus posted about about 10 days later. They did not send a 1099. I currently still have the account open.
CC funding up to $500 Visa and MC only, used Citi DC. “Premature Account Closure” of $15 if closed within 6 months after opening.