Offer at a glance
Maximum bonus amount: $200
Availability: Offer available for accounts opened in the Louisville Market only. Maybe Kentucky, Southern Indiana, Indianapolis, Cincinnati?
Direct deposit required: Yes, no minimum mentioned
Additional requirements: See below
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $5, avoidable
Early account termination fee: Unknown
Household limit: One
Expiration date: August 31, 2024
The Offer
Stock Yards Bank & Trust is offering a $200 bonus when you open a new checking account and complete the following requirements:
Use promo code CHECKING200 at opening
At least ten (10) Point of Sale (POS) purchases of $5.00 or more
At least one (1) direct deposit or ACH payment must post and clear the account
Enrollment in eStatements
The Fine Print
To be eligible, you must enter the referral code shown below when applying online, or mention this offer and referral code when applying in a branch.
To earn the $200 bonus the following activities must be completed within 90 days of account opening: At least ten (10) Point of Sale (POS) purchases of $5.00 or more must post and clear the account, at least one (1) direct deposit or ACH payment must post and clear the account, and enrollment in eStatements (online banking required).
Bonus will be credited 90 days after account opening if all requirements are met. Account must be open and in good standing at the time the bonus is paid.
Bonus will appear on your statement as a Promotional Rebate – The value of the bonus may be reported on the appropriate Internal Revenue Service (IRS) forms, and may be considered taxable income to you.
Please consult your tax advisor regarding your specific situation.
Offer available for accounts opened in the Louisville Market only.
Offer available to new consumer customers only; current customers are not eligible.
Offer limited to one bonus per household per calendar year.
Offer subject to change without notice and may be terminated or extended at any time.
Minimum deposit required to open account and is based on the type of account opened.
Some accounts have a minimum balance requirement to avoid a monthly service charge.
Speak to a banker for details.
Must open account by August 31, 2024.
Restrictions may apply.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Smart checking has a $5 monthly fee.
$2.50 rebate with eStatements
$2.50 rebate if one direct deposit OR electronic payment (ACH) posts during the statement cycle
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
If anybody signs up please share if it’s a hard or soft pull in the comments below.
Hat tip to Woody
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
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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
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