[TX, In Branch] Legacy Bank & Trust $500 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: TX only
  • Direct deposit required: Yes, $500+ for first three statement cycles
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $1,000
  • Monthly fees: None
  • Early account termination fee: $100
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • Legacy Bank & Trust is offering a bonus of $500 when you open a new checking account and complete the following requirements:
    • Have a direct deposit of at least $500 post and clear within each statement cycle occurring in the first 90 calendar days of opening your account

The Fine Print

  • $25 minimum opening account deposits.
  • You will be paid $500.00 as a bonus on the first banking day following the end of the statement cycle during which the account qualifications are met. To be eligible for this bonus, you must have a direct deposit of at least $500 post and clear within each statement cycle occurring in the first 90 calendar days of opening your account.
  • Your direct deposit must be an electronic deposit of your paycheck, pension, or government benefit (such as Social Security) from your employer or the government.
  • Person to person payments (such as Zelle) are not considered a direct deposit.
  • Offer not available for existing Legacy Bank & Trust checking customers, or those whose account have been closed within 90 days or closed with a negative balance within the last 3 years.
  • Only one account allowed per household.
  • Limit of one checking account opening bonus every two years from enrollment date and only one bonus per account.
  • Must remain in this account type for 12 months from date opened.
  • Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes.
  • Early closeout fee of $100 will apply if account is closed within 365 days of opening.
  • This fee replaces the closeout fee otherwise described in the fee schedule
  • . Offer availability subject to change.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

Early closeout fee of $100 will apply if account is closed within 365 days of opening

Our Verdict

Very big bonus with small requirements, definitely worth doing. I can see this being pulled early so if interested sign up sooner rather than later.

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    William Charles
  • On May 22, 2024, 06:30
Tags: credit card fundingdirect deposit requiredsoft pulltx bank bonuses

View Comments (92)

  • I have a question, I deposited 300$ per paycheck every 2 weeks, to get the 500$ bonus, which was 600$ per month most months, but 900$ in 1 month, but they are saying each direct deposit should be 500$ , for the bonus, not cumulative. how did you all receive bonus?, did you deposit 500$ in each DD?

  • 05/24 - Account Opened in Branch
    06/21, 07/05, 07/22, 08/07 - Employer DD
    08/30 - $500 bonus posted

    • I open about the same time, able to get the first DD in 5/31 and each period after that include this month. And yes the bonus posted today also

  • Looks like the bonus takes about 3 full cycles to count (as promised) and credits after the close of the 3rd cycle.

    May 29: Opened in branch using TX DL but out of local footprint. Chex lol/lol. Banker confirmed that lacking a DD in the first partial cycle would not be an issue for the bonus. Dallas-area branches were so new that none of them showed on Google maps, so I added them and their opening hours, website, etc.
    May 31: "Ext Trnsfr JPMorgan Chase PPD" for good measure.
    Jun: Real DD
    Jul: Real DD
    Aug: Real DD
    Upon statement close: "R360 Cash Back"

    Overall, straightforward bonus and nice staff. It's a large bonus and did not want to risk fake DDs no DPs on that, unfortunately. I'll be keeping this account for a while and perhaps opening up the Lone Star MM acct since the rate isn't half bad.

    Notes about Online Banking:

    • It's a bit odd/borderline archaic, i.e., hosted by Apiture and seems like 8 services cobbled together.
    • Adding your actual account to the online banking service is manually done by them and requires submitting your account number.
    • External ACH transfers are a bit annoying to set up -- had to submit a voided check or statement to verify ownership of the remote account.
    • They do have Zelle serviced via CashEdge/CheckFreeWeb (back to the "cobbled together" thing).
    • Bill payments work ok, serviced via BillPaySite.com.

  • The link is not working anymore. It looks the promo has been pulled earlier. If anyone gets the chance to find the new link, pls feel free to share here. Thanks.

  • I opened a savings account last week hoping to then open a checking account online since I'm not near a branch, but I never received an online login. It looks like they've ended the promotion as of today since I don't see it on the website anymore. It's a shame since the $500 bonus was quite substantial.

  • I was told that my statement cycle ends on the last day of the month (today). I only just opened it a week ago and only just got online access today, so I'm not going to be able to get my first direct deposit in time if they don't make an exception. I reached out to the banker who opened my account and she's going to look into it.

    • I’m in a similar situation, but I haven't been able to get online access yet. It's been a week. Do you think I should call the bank to ask for an update on my online access? I see they pulled the opening deposit from my home bank already.

      • I was originally told when I opened my account that I would receive an email when online access was ready. After 6 days, I realized that I never received the email so I went to the Legacy Bank website and clicked on enroll under the login credentials. I filled out the form to request online access, and then yesterday afternoon I received a call (FYI, it comes from a number in Missouri) to verify my request. This morning I was finally able to log in and view my account. So it sounds like we were supposed to immediately request access after opening the account to start the process.

  • Just called the branch and they said the promotion is on hold, I was going to drive to the branch today but just before leaving I checked their page and it doesn't have $500 promotion listed anymore

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