[WV, VA, KY, OH] City National Bank $100 Teen Checking Bonus

Offer at a glance

• Maximum bonus amount: $100
• Availability: WV, VA, KY, OH
• Direct deposit required: Yes, $200+
• Additional requirements: None
• Hard/soft pull: Soft pull
• ChexSystems: Yes, not sensitive
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $25, 180 days
• Household limit: One
• Expiration date: None listed

The Offer

Direct link to offer

• City National Bank is offering a $100 teen checking bonus when you open a new checking account and establish a qualified recurring direct deposit of $200+ 

The Fine Print

• Limited time offer.
• To earn the $100 direct deposit bonus, you must establish a qualified recurring direct deposit of at least $200 or more into the account.
• Bonus will be deposited into the new account 91 days after payroll or other qualified payment has been electronically deposited into the account.
• Limitations: The bonus cannot be used as the opening deposit.
• Bonus may be reported on 1099.
• $25 minimum deposit required to open account.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees. 

Early Account Termination Fee

Unsure if there is any EATF

Our Verdict

Unusual to see an account designed for teens require a direct deposit for the bonus. Never too young to learn how to fake that though. In all seriousness this is designed as a joint account with the parents so I assume they think they will direct deposit $200 in there. Not sure how being a joint owner would affect your own chances of getting the $200 ‘adult’ bonus. 

Hat tip to reader snailrock

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