Offer at a glance
Maximum bonus amount: $200
Availability: All branches are in AL
Direct deposit required: Yes, two direct deposits
Additional requirements: 5 debit card transactions and online banking
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: Unknown
Household limit: One
Expiration date: None
The Offer
Bank Independent is a bonus of $200 bonus when they open a new checking account and complete the following requirements:
Have at least two recurring ACH direct deposits posted to your new personal or business checking account within 60 days of account opening
Maintain the account in good standing for 60 days from account opening
The Fine Print
One per customer or household.
To earn the $200 bonus, you have at least two recurring ACH direct deposits posted to your new personal or business checking account within 60 days of account opening.
To receive the bonus, code should be given to relationship banker at account opening or entered into appropriate field if opened online.
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
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not.
Our Verdict
Better than the previous $150 business bonus that was offered. It looks like account opening works out of state, but unsure if the bonus will post. Also says you need to enter a code but doesn’t provide one?
Hat tip to Smurfit
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