[TN, FL, NC, SC, VA Only] First Tennessee $150 Checking Promotion

Update: There is a better offer for $250, more details here.

Reposting this since it’s been more than a year since we last posted this deal.

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: TN, FL, NC, SC, VA Only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: Use promotional code “MGR150”
  • Hard/soft pull: Soft
  • Credit card funding: Up to $300
  • Monthly fees: $5-$9, waive able
  • Early account termination fee: Six months, otherwise bonus is clawed back
  • Expiration date: March 31st, 2016 September 30th, 2015 May 31st, 2015 January 31st, 2015

The Offer

Direct link to offer

  • Receive a $150 bonus when you open a consumer checking account with First Tennessee bank, use the promotional code “MGR150” and receive a direct deposit

The Fine Print

  • Minimum account opening is $300
  • Direct deposit must be received within 60 days of account opening
  • Bonus will be deposited within 6 weeks after meeting the direct deposit requirement
  • Limit of one bonus per household
  • Only available to new checking customers or those who haven’t held a Checking account with First Tennessee within the last 12 months
  • Account must be kept open for a minimum of six months
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Express Checking $5 Monthly

This is waived as long as you have at least one direct deposit in the month.

Our Verdict

There is a higher bonus of $200 that this bank is offering with similar terms. This lower sign up bonus of $150 might be better for two reasons:

  • You can open online, rather than in branch
  • You can get this bonus on the Express checking account which doesn’t require $5,000 to be kept fee free

Because of the above I’d be more likely to recommend this deal than the other one. The only downside is there aren’t a lot of data points on what does or doesn’t count as a direct deposit. If I lived within the promo area, I’d be giving this bonus a go but unfortunately I don’t. We’ve added it to our list of state specific checking promos.

If you don’t live within one of the participating states, look at our list of the best new checking account sign up bonuses.

Direct link to offer | Screenshot of offer

Hat tip to our other writer, Chuck.
    William Charles
  • On December 17, 2015, 14:00

View Comments (21)

  • FYI, I had been using an ACH push from Discover Bank to meet the DD requirement for Express Checking, but it's now showing up as P2P for me. For the past several months, it showed as:

    DISCOVER BANK PREARRANGEYYMMDD########### (My Discover Bank Account Number)

    However, my latest push is showing up as:

    DISCOVER BANK P2P YYMMDDMATTHEW **** (My Last Name)

    They've been sending several e-mails lately about their new upgraded online banking system, maybe that's related to this, who knows.

    I know these bonuses are long since expired, but they say it's required to keep accounts open for a minimum of 6 months, in order to avoid a claw-back. For those of us out there who are still trying to fulfill that requirement, and avoid the Express Checking monthly fee, this might be something to keep an eye on.

    If anyone out there is reading this, I hope this data point helps you!

  • Wish I saw the $250 before signing up for the $150 bonus. But I deposited $300 with Capital One Quicksilver. It went through as a purchase. I also did an ACH Push from my Capital One 360 Savings for .01 cent and got the $150 bonus a few days later.

  • I just opened an account through the $250 link. I actually found that link a few days ago from Maximizing Money. I DO NOT live in one of the states mentioned so it doesn't appear to be restricted to them. I used my Freedom for the $300 opening deposit. At the end it said "Summary of Products Pending Review" so hopefully that won't cause any problems.

  • Better offer: $250 https://www.firsttennessee.com/250online

    I live in TN and can walk to a 1st Tennessee bank in about 10 minutes. I opened the account with $300, pushed $100 from CapitalOne and had the bonus 3 days later.

    I avoid the $5 monthly fee of Xpress Checking by pushing/pulling $50 a month via ACH from CO.

  • Wouldn't allow me to do a $301 opening deposit, but it did allow $300 on the nose.

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