Offer Details
Written by: RJ
Requirements
- Open a Smart Advantage checking – $350
- Direct deposit $4k within the first 120 days of opening
- Open a Relationship checking – $500
- Direct deposit $7,500 within the first 120 days of opening
- Open a new Savings Builder account – $120
- Increase the balance by $200 per month for 12 months
- Bonus posts in $5 monthly installments
Eligibility
- Nationwide
- Checking: Can’t have had a checking account in the past 12 months
- Savings Builder: Can’t have had an account between 2/3/2020 – 10/18/21
Fees
- Smart Advantage checking – No monthly fee
- Relationship checking – $25 monthly fee is waived with:
- $10k balance
Account Closure
- No rule listed
Chex
- Yes
Valid through: 9/9/24
![icon-profitable-content Profitable Content icon](https://www.profitablecontent.com/wp-content/uploads/2022/11/icon-profitable-content.png)
Thoughts
The checking offer has gone as high as $600 for the same requirements. I’d wait for that one to come back.
How do you get to $120 in the savings builder if it is $5 a month ($60)?
Interest Rate is
0.01% so it looks like they are not even paying above interest rates say in month 10 you have $2000 in deposit with them to keep building it so that part maybe a recommend pass unless interest rates fall off a cliff which the “Federal” Reserve (that is not part of government for most purposes) has said interest rates are planned to be elevated for some time.
If you do want to go for it it should be noted this time of month: “If your initial deposit is not received until the month after account opening, the account will only be eligible for 11 savings rewards.”
Both my wife and I were denied accounts 9/22/23. None of these apply: https://www.bmo.com/en-us/articles/checking-accounts/why-your-account-application-may-have-been-declined/
It is not nationwide: https://www.doctorofcredit.com/az-fl-il-ks-mo-mn-wi-bmo-harris-200-500-business-checking-bonus/
Do look like Chex system is used for this one
Thanks, I’ll update.