Update 7/13/24: Deal is back, no end date. Terms now state ‘Offers are only available to Oklahoma, Arizona, and Colorado residents’. Hat tip to JimmytheGreek
Offer at a glance
Maximum bonus amount: $500
Availability:Offers are only available to Oklahoma, Arizona, and Colorado residents
Direct deposit required: Optional
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: 90 days, $30
Household limit: One
Expiration date: None listed
The Offer
First Fidelity Bank is offering a bonus of up to $500 when you open a new checking & savings account. Requirements are as follows:
Get $200 when you open a new freestyle checking account. Complete one of the following:
Complete ten (10) POS debit card transactions of at least $10 each.
(2) Set up a monthly recurring direct deposit of at least $250 each.
Get $200 when you open a new traditional savings account and complete the following requirements:
Deposit a total of $15,000 new money within twenty (20) business days of account opening
Maintain a $15,000 balance for a minimum of ninety (90) days from account opening.
Open both a checking & savings account and get an additional $100
The Fine Print
Offers only good for new Freestyle Checking and Traditional Savings accounts for new First Fidelity Bank (FFB) customers.
Checking and savings account bonus offer not available to existing First Fidelity Bank (FFB) customers.
Both offers are not available to those whose accounts have been closed within 90 days or closed with a negative balance.
Offer limited to one Freestyle Checking and one Traditional Savings account type per household.
May not be combined with other offers.
All account openings subject to approval.
$100 minimum required each to open a new Freestyle Checking and Traditional Savings accounts.
Bonus is not considered part of the minimum opening deposit.
To receive the $200 checking bonus, you must complete one of the following within sixty (60) days of checking account opening:
(1) Complete ten (10) POS debit card transactions of at least $10 each. ATM transactions not eligible.;
(2) Set up a monthly recurring direct deposit of at least $250 each.
$200 bonus will be deposited into your checking account within ten (10) business days once all account requirements are met.
To receive the $200 savings bonus, all of the following conditions must be met:
(1) Deposit a total of $15,000 new money within twenty (20) business days of account opening;
(2) Maintain a $15,000 balance for a minimum of ninety (90) days from account opening.
$200 bonus will be deposited into your checking account within ten (10) business days once all account requirements are met.
If account falls below $15,000 within the first ninety (90) days of account opening, the bonus will be debited from the account.
Additional $100 bonus will be paid upon opening new Freestyle Checking and Traditional Savings on the same day.
Once all account requirements are met for both accounts, the additional $100 bonus will be deposited into your new checking account within ten (10) business days.
Bonus cash is considered interest and is reportable on IRS form 1099-NT (or Form 1042-S, if applicable).
Avoiding Fees
Monthly Fees
Freestyle checking account has no monthly fee. The traditional savings account has no monthly fee as long as you have $200 in the account.
Early Account Termination Fee
If the account is closed within 90 days a $30 fee is charged.
Our Verdict
Seems like a relatively good bonus especially as no direct deposit is needed, just needed to know if it’s a hard or soft pull.
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