Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â NV only
- Direct deposit required:Â No
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Unknown
- Credit card funding:Â None
- Early account termination fee:Â Bonus forfeit, six months
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The Offer
- Farm Bureau Bank is offering a $250 bonus when you open a new checking account and complete ONE of the following requirements:
- Open a new Merchant Services Account OR
- Maintain an average daily balance of $5,000 OR
- Sign up for a Treasury Management Service
The Fine Print
- Promotional offer may be discontinued or changed at any time, without notice. Monthly account fees apply but may be waived if certain criteria are met. The $250 will be credited to your business checking account within 60 days after the qualification period of three (3) statement cycles. If the account is closed within six (6) months, the bonus will be deducted at account closing.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Business essentials has a $10 monthly fee. Maintain a $1,000 minimum average daily balance to avoid the monthly account fee
Early Account Termination Fee
Bonus forfeit if closed within six months
Our Verdict
Possibly ChexSystems sensitive, not sure if that affects business accounts or not.
Hat tip to ShawntheShawn
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
