Posted by Madison on January 15, 2016
First Tennessee is offering $250 to open a checking account.
There’s no requirement to live in Tennessee and you can open the account online, so it appears to be an easy sign up bonus. The easier a bonus is, the faster it moves up my to do list!
It’s our Free Money offer this week.
How to Get Your $250 Sign Up Bonus
- Open a First Tennessee Checking account by March 31, 2016.
- Use the offer code: ONLINE.
- Open the account with a $300 deposit.
- One direct deposit must post to your account within 60 days of account opening.
- The $250 bonus will be credited to your account within 6 weeks of meeting all requirements.
First Tennessee Terms and Conditions
- Opening deposit cannot be transferred from existing First Tennessee accounts.
- Bonus will be reported as income on Form 1099-INT.
- Limit one bonus per household.
- Cannot be combined with other checking offers.
- This offer is for new checking households only, or for households who have not had an open First Tennessee consumer checking account in the previous 12 months.
More on First Tennessee
Keep Account Open for Six Months. The terms state that the customer agrees to maintain account in good standing for a minimum of six months. Be sure to keep it open six months so that your bonus isn’t reversed.
Waive Monthly Fees. The checking account options have a monthly service fee from $5-$9 per month. However, you can waive fees on some of these accounts with direct deposit or a minimum balance. The express checking is a $5 fee which can be waived with one direct deposit each month.
Credit Card Funding. You can fund the $300 initial opening deposit with a credit card.
Source: Doctor of Credit.
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I’m always on the alert for these bank bonuses, but they all seem to require direct deposit. Are you aware of any other ways to set up direct deposit other than a paycheck/pension?