Update 9/7/24: Deal is back until October 18, 2024. In branch only this time. Hat tip to Jimmy Johns
Update 5/12/24: Offer extended to July 19,2024
Update 5/8/24: Must be opened by May 15, 2024
Offer at a glance
Maximum bonus amount: $100
Availability: Oklahoma & Texas only
Direct deposit required: Yes, $1,000+
Additional requirements: None
Hard/soft pull: Soft
ChexSystems: Yes
Credit card funding: Yes, up to $500. Visa, Mastercard & Discover accepted.
Monthly fees: Avoidable
Early account termination fee: $10, 60 days
Household limit: None
Expiration date: None listed but must be done by August 1, 2024
The Offer
First United Bank is offering a checking bonus of $250 when you use the promo code 250M24 and complete the following requirements:
Make Direct Deposits into the account by one or more deposits that, in the aggregate, are equal to or greater than $1,000 during at least one statement cycle during the first 90 days of the account opening
The Fine Print
To qualify for the special offer, you must open a First United Bank Basic Checking Account, which is subject to approval
You must also make Direct Deposits into the account by one or more deposits that, in the aggregate, are equal to or greater than $1,000 during at least one statement cycle during the first 90 days of the account opening.
Direct deposit is the deposit of funds electronically into a bank account rather than through a physical paper check.
Qualifying direct deposits are deposits of regular monthly income via ACH deposit (such as your salary, pension, or Government benefits).
Non-qualifying direct deposits are ACH deposits such as check deposits, Peer to Peer (P2P) transfers (PayPal, Venmo, etc.) or other ACH transfers that are not from employers or payroll providers.
Offer applies to only one checking account per individual and is only valid for individual located in Texas or Oklahoma.
Offer not available to existing First United Bank checking customers or those who have closed a checking account within the last 180 days.
First United Bank Employees and family members are not eligible for offer.
All bonuses will be paid to qualified customers no later than August 1, 2024. 1099 reporting may apply, please consult your tax adviser.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Prestige checking has a $7.50 monthly fee, this is waived with a $1,000 balance.
Early Account Termination Fee
According to this comment it is $10 if closed within 60 days.
Our Verdict
Much better than the previous $100 bonus that was offered. Worth doing if you live in the target area. We will add this to our list of the best bank account bonuses by clicking here.
Hat tip to reader Bockrr
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