Update 8/15/23: Deal is back and valid until 12/31/2023.
Update 1/12/23: Bonus has been increased to $250 on both accounts + bonus points. Spend requirement is now $200 instead of $100. Valid until 2/15/23 now.
Offer at a glance
Maximum bonus amount: $250
Availability: Must be a resident of DE, MD, NJ, PA
Direct deposit required: No
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Can fund at least $500 with a credit card
Monthly fees: Yes, $10 or $25 monthly fee (avoidable)
Early account termination fee: $25, 1 year
Household limit: One
Expiration date: December 31, 2020
The Offer
Firstrust Bank is offering a bonus of $250 + 5,000 points when you open a FirstPaySM account or $250 + 10,000 points FirstPaySM Premier Eagles Checking and complete the following requirements:
Make a purchase of $200 or more
The Fine Print
Bonus points will be paid to all new FirstPaySM and FirstPaySM Premier Eagles Checking accounts opened from 10/16/2020 to 12/31/2020. FirstPaySM Eagles checking customers will receive 15,000 bonus points. FirstPaySM Premier Eagles checking will receive 20,000 bonus points.
Limit 1 per household.
Bonus points may be redeemed for advertised gift card value. I.e. every 5,000 bonus points can be redeemed for $50 gift card.
New customers will be eligible after first Visa® purchase of $100 or more is made within 60 days of new account opening. Bonus will be paid within 60 days of purchase.
Points can be redeemed through scorecardrewards.com. Points will be eligible to be redeemed for gift cards 60 days after new account opening. Card must be registered to redeem.
Offer can be withdrawn at any time without notice.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
FirstPay Checking Account
To avoid monthly maintenance fee ($10), account is required to have one of the following each month: $500 minimum daily balance, monthly direct deposit, 10 debit card purchases or 5 online bill payments.
FirstPay Premier Checking
To avoid monthly maintenance fee ($25), account is required to have one of the following maintain $5,000 combined balance in deposits accounts or have $50,000 in consumer loans and lines of credit balances.
Early Account Termination Fee
There is an early account termination fee of $25 if closed within a year.
Our Verdict
We’ve previously seen a $276 checking bonus, that required a direct deposit but was easier to keep fee free (same requirements as the current $150 bonus). This offer might be worth considering for those that don’t like to worry about meeting the direct deposit requirement, otherwise it could make sense to wait for a bigger offer to return. We will add this to our best bank account bonus page.
Hat tip to Novacat05
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
Post history:
Update 7/15/22: Deal is back to $150/$200 and valid until 03/31/2023.
Update 5/12/21: Deal has been reduced to $50/$100.
Update 1/31/21: Deal has been extended until May 31, 2021. Hat tip to reader Vlad