Offer at a glance
Maximum bonus amount: $200
Availability: KS, MO, AR, OK
Direct deposit required: No
Additional requirements: See below
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Mentions debit/credit card available, unsure on limits
Monthly fees: $10, avoidable
Early account termination fee: Unsure
Household limit: One
Expiration date: None
The Offer
Equity Bank is offering a $200 bonus when you open a new checking account and complete the following requirements:
maintain Equity Bank account in active and good standing at time of incentive payment
complete direct deposit forms at time of enrollment
apply for, receive, and activate and use an Equity Bank debit card within first 45 days of account opening
The Fine Print
Limited time offer and may be canceled without notice.
One offer per household, available for new Equity Bank households only, and subject to review and approval.
Incentive amount will be directly deposited into customer’s qualifying account after approximately 45 days of account opening, assuming qualifications are met.
To qualify for offer, customer must (1) maintain Equity Bank account in active and good standing at time of incentive payment, (2) complete direct deposit forms at time of enrollment, (3) apply for, receive, and activate and use an Equity Bank debit card within first 45 days of account opening.
Promotion not available to current employees and employee household members of Equity Bancshares, Inc. or its subsidiaries.
Customer will be issued a 1099-INT form for tax value of the incentive amount.
Minimum $100 deposit required to open Equity Bank checking account.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Preferred checking has a $10 monthly fee, this is waived with a $2,000 balance.
Early Account Termination Fee
I wasn’t able to find a fee schedule, so unsure if there is any early account termination fee.
Our Verdict
Better option than a $350 toaster for most people. Always nice to see a bonus without a direct deposit requirement.
Hat tip to snailrock
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?
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