DOC Compass — Offers, decoded

Deal has expired, more bank account bonuses can be viewed here.

Deal has expired, view more bank bonuses by clicking here.

Offer at a glance

Maximum bonus amount: $300
Availability:Burlington, KY in Branch only
Direct deposit required: Yes, no minimum specified
Additional requirements: 30 debit card transactions
Hard/soft pull: Soft pull
ChexSystems: Yes, not sensitive
Credit card funding: Initial online sign up page does mention credit card/debit card funding. Specifics unknown
Monthly fees: $6, avoidable
Early account termination fee: 180 days, bonus forfeit
Household limit: None listed
Expiration date: December 22nd, 2018

The Offer

Direct link to offer

Forcht Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
- Open a Forcht Friend, 55 Advantage, or Everyday Heroes checking account & deposit $50 or more at account opening
- Have at least one direct deposit made to the account (receive a $200 bonus). Must post on or prior to January 26th, 2019.
- Have at least 30 debit card transactions (receive $100 bonus). Must post on or prior to January 26th, 2019.

The Fine Print

Offer ends December 22, 2018 and is not available to existing Forcht Bank checking customers.
Bonus eligibility information: (1) Open a Forcht Friend, 55 Advantage, or Everyday Heroes Checking account; (2) Deposit $50 or more at account opening; To receive a $200 checking bonus; (3) Have at least one direct deposit made to this account on or prior to January 26, 2019 (The direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government);
To receive a $100 checking bonus; (4) Have at least 30 debit-card transactions post to your account by January 26, 2019.
If a qualifying activity has been met, the bonus will be posted to your personal checking account on January 31, 2019.
If the checking account is closed within the first 180 days after account opening, an early account closure fee will apply.
Bonus is considered interest and reportable on IRS Form 1099-INT for the year in which it is received. Offer cannot be combined.
Limited one per customer.
Voucher and promotional offer valid only at the Burlington Forcht Banking Center to qualify at time of account opening.
Forcht Bank reserves the right to end the promotion without notice at any time.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Easiest account to keep fee free is easy checking, as long as the balance is kept above $100 the $6 monthly service fee is not charged.

Early Account Termination Fee

Account needs to be kept open for 180 days otherwise the bonus will be forfeit

Our Verdict

Update: Unfortunately it’s Burlington branch only.

It says the promo offer is only available at the Burlington branch, but then it directs you to open the account online so I’m not sure if it’s that Burlington branch only or not. If it can be opened online in any of those states and it’s a soft pull and you can fund a little with a credit card then this will be an absolutely fantastic bonus but it’s not clear if that’s all the case or not. As always please share your experiences and datapoints in the comments below.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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