Offer at a glance
Maximum bonus amount: $400
Availability: Must reside in one of the following states to apply for the special offer: Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska, Oklahoma, Texas
Direct deposit required: Yes, at least $2,000+
dditional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Yes
Credit card funding: None
Monthly fees: $8, avoidable
Early account termination fee: $30, 90 days
Household limit: None
Expiration date: July 31, 2023
The Offer
UMB Bank is offering a $400 checking bonus when you open a new select or value checking account and complete the following requirements:
Fund the account with the minimum opening deposit of $1,000; and
Have qualifying direct deposits totaling $2,500 or more post to the account within 60 days of account funding; and
Account must remain open for at least 90 days after account funding.
The Fine Print
All account applications are subject to approval.
Valid only for new UMB Select Checking or UMB Value Checking accounts.
Please read account descriptions carefully. To be eligible for this special offer, you must apply for your new UMB Select Checking or UMB Value Checking account via the Apply Now buttons on this page, or in-person at a UMB branch and complete the special offer requirements.
You must present the mailer or mention this special offer when opening a new UMB Select Checking or UMB Value Checking account at a UMB branch.
Customers who have previously applied for a personal checking account special offer are not eligible for this promotion.
Accounts not funded by the last day of the first full month following account opening will be closed. You must reside in one of the following states to apply for the special offer: Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska, Oklahoma, Texas. UMB associates are not eligible for this special offer. Special offer available one time per individual; for accounts with multiple owners, earned special offer will only be paid once. Earned special offer will be paid to the eligible UMB Select Checking or UMB Value Checking account within 30 days of meeting all applicable special offer requirements. Eligibility will be verified prior to paying out the $400.00 special offer. Earned special offer will be reported to the IRS as interest income. Fees and charges may reduce earnings on your account. Contact a UMB associate for more information. Special offer expires July 31, 2023.
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 a $8 monthly fee. This is waived if you do any of the following:
$1,500 average collected balance in this account
$3,000 in combined deposit balances
A single direct deposit of $250 or more
Student, under the age of 25
Early Account Termination Fee
There is a $30 fee if closed within 90 days
Our Verdict
Better than the previous bonus that was for $300. This is definitely worth doing if you live in an eligible area and we will add this to our list of the best bank account bonuses.
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