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Offer at a glance
- Maximum bonus amount: $275
- Availability: Nationwide
- Direct deposit required: Yes, $300+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None/$10 and avoidable
- Early account termination fee: $10, 90 days
- Household limit: None listed
- Expiration date: November 15th, 2019
Contents
The Offer
- Incredible Bank is offering up to $300 in bonuses, broken down as follows:
- Earn $175 when you open a new checking account with promo code TOASTER ($100 minimum at account opening) and establish a recurring direct deposit of $300 or more within 45 days and download the mobile app for incredible bank
- Earn a $100 bonus when you open a new money market account with promo code TOASTER. Must fund with at least $10,000 and maintain that balance for at least 90 days
The Fine Print
- Offer expires and is limited to accounts opened online through 12:00am CST, November 15, 2019. Existing customers are eligible if you open one of the specified accounts with new money; opening deposits cannot be transferred from existing accounts at IncredibleBank. IncredibleBank employees and affiliates are not eligible for bonus offers. Offer is subject to change at any time.
- Qualified bonuses will be deposited into your new IncredibleBank account between January 5 – 8, 2020.
- Visa® Real Rewards bonus will be awarded after your first purchase, redeemable as 2,500 rewards points (a $25 value).
- IncredibleBank Checking Bonus:
- To receive the $175 bonus, you must: open online with a minimum deposit of $100 using promo code TOASTER; establish a recurring payroll direct deposit of $300 or more and is required within 45 days of account opening; and download the mobile app for IncredibleBank. One IncredibleBank Checking Bonus per customer.
- IncredibleBank Money Market Bonus:
- To receive the $100 bonus, you must: open online with a minimum deposit of $10,000 using promo code TOASTER, and the account must remain open with, and at least maintain, that balance for at least 90 days. One IncredibleBank Money Market Bonus per customer.
- Visa® Real Rewards Bonus:
- Offer is subject to credit approval and applies only to the Visa® Real Rewards card. To receive the rewards bonus, you must: be 18yrs or older; and make a purchase within 45 days of card approval. Visa® Real Rewards Credit Card: You will earn 1.5 Reward Points (“Points”) for each dollar of eligible net purchases made with your account within a billing cycle (equal to 1.5% cash back). Monthly net purchase points will be applied each billing cycle. Points expire five years from the end of the quarter in which they are earned. One Visa® Real Rewards Bonus per customer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Checking account has no monthly fee to worry about. Money market account has a $10 monthly fee, this is waived with a minimum balance of $5,000.
Early Account Termination Fee
There is a $10 fee if the account is closed within 90 days.
Our Verdict
Credit card bonus isn’t worth considering as it’s only for $25 and will result in a hard pull. The checking bonus is worth doing as the requirements are fairly easy to meet. The money market account earns 0.5% APY on balances of $10,000+. This with the $100 bonus basically means you’d be earning 4.5% APY during the 90 day period, good but not great. Probably not worth it for most people, but will vary based on what high interest accounts you have. I’ll add these to our lists of the best bank account bonuses.
Hat tip to reader IS250
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
View Comments (367)
Anyone get a 2020 1099-INT from Incredible ye? I did the $175 checking promo.
I did on 1/25.
Closed account by sending them a message in the morning and they closed it within 2 hours.
Got the bonus with legit DD (Oct, Nov & Dec.), withdrew everything, they sent me a snail mail saying my account is going to get shut in 15 days, well, thank you for saving me the hassle of chat lol
Serious Fail: I never downloaded the new app. I had the old app on my phone. No bonus for me.
Details, details, details! dangit!
I did not download the app still got the bonus. Did you try to get them reconsider the bonus payout?
They refused. Cited that I didn’t download the app so I didn’t qualify for the bonus. Glad they didn’t catch you!
That reminds me of a Suntrust bonus I missed out on several years ago. I did everything right but missed a small detail similar to this and they refused to budge.
This makes me feel a little better about missing the deadline for this offer. It's possible I would have made the same mistake you did as I didn't even know that was part of the requirements.
Had real DDs. Missed the app requirement. Denied bonus. 🤦🏼♂️
Nice to know I’m not alone
@guest_877127 Holy crap, I would have never thought they would have even really checked that. I guess that's a lesson learned about this bonus.
I had $300 real DD for Oct&Nov. $200 real DD for Dec. No bonus. Do we need $300 on all the months?
September Opened account
October $300 transfer from Wells Fargo
November $300 from WF
Jan 6th, 2020: $175 Promotional Bonus
$175 Bonus posted on 01/06.
I used Schwab brokerage to do DD in October, November, and December.
I closed my account on 01/07 through the online chat.
Withdrew all money out before closing or they sending a check?.
I withdrew all the money before closing.
Bonus posted 01/06
Chase DD in Oct and Nov
$175 bonus posted yesterday. I did Chase ACH in Oct, Nov & Dec.
So just to confirm - we are fair to close our account once the bonus has hit, correct?