Offer at a glance
Maximum bonus amount: $400
Availability: SC & OH, maybe NC & KY as well but can’t links
Direct deposit required: Optional
Additional requirements: See below
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $10 – $25, avoidable
Early account termination fee:
Household limit: None listed
Expiration date: None
The Offer
Direct link to offers: (SC & OH)
Park National Bank is offering a bonus of $200/$400 when you open a new checking account. Bonuses are broken down as follows:
Open a VIP Checking Account and earn a $200 bonus when you:
Use promo code VIP200SU24
Have direct deposits totaling $500 or more or maintain a balance of $1,000+
Open a VIP All-Access Checking Account and earn a $400 bonus when you:
Use promo code VIP400SU24
Maintain a balance of $25,000 or more
The Fine Print
To qualify to receive the $200 bonus, you must be a new personal deposit customer and your VIP Checking Account must (1) be open and in good standing and (2) have electronic deposits totaling $500 or more made to the account within 90 days of opening OR maintain a current monthly average available balance of $1,000 or more in this account. Your current monthly average available balance must be $1,000 or more by the end of your second statement cycle and maintain that average balance through the 90-day promotional period.
To qualify to receive the $400 bonus, you must be a new personal deposit customer and your VIP All-Access Checking Account must (1) be open and in good standing and (2) maintain a current monthly average available balance of $25,000 or more in this account. Your current monthly average available balance must be $25,000 or more by the end of your second statement cycle and maintain that average balance through the 90-day promotional period.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
VIP Checking Account, this has a $10 monthly fee. Waived with:
$500 or more in qualifying direct deposits or
$1,000 or more on deposit with Park
VIP All-Access Checking Account, this has a $25 monthly fee. Waived with:
$25,000 or more on deposit with Park
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
I couldn’t seem to find what interest rate the VIP All-Access Checking Account earns, if it’s significant it might be better than the $200 bonus but otherwise the $200 bonus will be the better option. Share if it’s a hard or soft pull and if credit card funding is possible below.
Hat tip to Jesse
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