DOC Compass — Offers, decoded

This bonus has expired.

Offer at a glance

Maximum bonus amount: $350 ($100 for checking + $250 round up bonus)
Availability: Must apply in branch, all locations in Texas [Branch locations]
Direct deposit required: Optional
Additional requirements: See below
Hard/soft pull: Soft pull
Credit card funding: Unknown
Monthly fees: $5.95 avoidable
Early account termination fee: $100, six months
Expiration date: December 30th, 2016

The Offer

Direct link to offer

Earn up to $350 with Bank of Texas, bonus broken down as follows:
- Receive $100 when you open a new Bank of Texas checking account and do one of the following:
  - Set up a direct deposit ($250 minimum)
  - Make 10 debit card transactions
- Receive up to $250 when you enroll in QuickSave, every time you make a debit card transaction or bill payment $0.50 or $0.25 will automatically be transferred to your savings account:
  - For the first three months they will match anything from QuickSave at 100%
  - After then they will add a 5% match

bank of texas

The Fine Print

$100 offer is valid for personal checking accounts opened on 4/1/16 through 6/30/16.
Offer is not available on account conversions, is not applicable to Student or Employee Checking accounts, and is limited to households that do not currently maintain a personal checking account.
Accounts are subject to our standard eligibility and documentation requirements.
$50 minimum opening deposit balance required.
Bonus will not be considered part of the minimum opening deposit. Bonus cash is considered interest and is reportable on IRS Form 1099-INT.
Limit one (1) per household.
The $100 will be deposited ten (10) days after the conditions noted below have been met, if the account is open, active and in good standing
Checking account must remain open for a minimum of six (6) months or the $100 will be debited from account during closing transaction.
One of the following must be completed within sixty (60) days of account opening date:
- Set up a $250 recurring direct deposit such as Social Security, Pension or Payroll. Each recurring direct deposit must be a minimum of $250.
- Complete 10 eligible Debit Card transactions of at least $10.00 per transaction. ATM transactions are not eligible. We reserve the right to disqualify Debit Card transactions in circumstances where we reasonably believe they were not made in good faith.
Each year, we will automatically transfer the bank match award to your personal savings or money market account within 6-8 weeks after your QuickSaveSM enrollment anniversary date. During the first three months after your enrollment in the QuickSaveSM program, we will match 100% of your QuickSaveSM transfers. Afterward, we will match 5% of your QuickSaveSM transfer
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest account to keep fee free is the access checking account ($5.95 monthly fee), this is waived if you do the following:

Enroll in online statements.
Use self-service options to complete deposits and withdrawals (ATM, Mobile, Online).

There is also an early account termination fee of $100 if the account is closed within 6 months.

Our Verdict

The $100 bonus is a good deal as no direct deposit is required, you’d also earn another $5 from the 10 debit card transactions by being enrolled in QuickSave. Because you’re earning $0.50 per debit card transaction for the first three months, you’re better off using this card if your purchase is under $25. After the first three months, there is really no point in using the debit card as you’re only receiving 2.5¢ per transaction.

I’d recommend this bonus only if you live near a branch, if anybody is able to succesfully fund a credit card in branch please let us know.

Big thanks to reader, VH who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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