DOC Compass — Offers, decoded

Deal has ended, view more ban account bonuses by clicking here.

Update 6/22/22: Extended until August 1, 2022.

Update 6/12/22: Deal is back and now $300 instead of $250. Direct deposit is required this time (no debit card option)

Offer at a glance

Maximum bonus amount: $300
Availability: CO, IA, IL, KS, NE, SD, TX, MO, and limited areas of WI and WY
Direct deposit required: Receive a direct deposit of at least $500 or more for two consecutive 35 day periods
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown, sensitive
Credit card funding: None
Monthly fees: None
Early account termination fee: None
Household limit: One
Expiration date: ~~9/15/2021~~ June 21, 2022

The Offer

~~Direct link to offer~~ | New link

FNBO Bank is offering a bonus of $250 when you open a new checking account when you complete the following requirements:
- Use promo code BANK
- Open account and get a $50 bonus
- Receive a direct deposit of at least $500 or more for two consecutive 35 day periods and get a $250 bonus

The Fine Print

Available at new branch location only.
Must be a new FNBO checking account, cannot be an owner or joint owner on a current First National Business or Individual checking account opened by 9/12/2021.
The $50 new account opening bonus will be credited to your account within 15 days of account opening.
The $200 direct deposit bonus will be credited to your account within 30 days of the date we receive your qualifying direct deposits.
Qualifying direct deposits must be received within 120 days of the account being opened and the account must be open to receive the bonus.
A qualifying direct deposit is defined as deposit, such as a customer’s salary, pension, Social Security, or other regularly monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.
To receive the bonus, a minimum qualifying direct deposit or deposits totaling $250 must post to your checking account for two (2) consecutive 30 day periods, or through a minimum of nine (9) credits posting to your checking via a debit card transaction for a minimum of $250 for two consecutive 30 day periods.
The deposits must post to your account within 120 days of account opening.
Transfers and/or deposits made via ATM, online or teller, and transfers from a bank or brokerage account do not constitute a credit or direct deposit. Small Business Checking Accounts must be opened in branch only.
This promotion may not be combined with any other offer. Limit one per business per account. One bonus will be applied if multiple accounts are opened at the same address.
The $10 new small business checking relationship bonus will be credited to your account immediately. The $240 bonus will be credited to your account 30-60 days from the date the account is opened. Account must be open to receive bonus. All account bonuses are subject to IRS reporting and will be reflected on a 1099-INT statement.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

There is a free checking account with no monthly fees.

Early Account Termination Fee

According to the fee schedule there is no early account termination fee.

Our Verdict

Bonus is $50 more than it previously was, but does require a direct deposit now. Still worth doing if eligible and will add this to our list of the best checking account bonuses.

Hat tip to WhatWeTacoBoutWhenWeTacoBoutLove

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