[TN, In Branch Only] First South Financial $1,000 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: In branch only, full list of locations here. 
• Direct deposit required: None
• Additional requirements: $50,000 balance for 3 statement cycles
• Hard/soft pull: Hard pull
• ChexSystems: Unknown 
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• First South Financial is offering a $1,000 business checking bonus when you complete the following requirements:
  • Open a NEW Business checking account and deposit $50,000
  • Maintain at least $50,000 daily balance for the first 3 full statement cycles
  • Conduct 20 qualifying transactions within the first 3 full statement cycles

The Fine Print

• Limited time offer valid for new business checking accounts, offer is subject to change or withdrawal at any time without notice.
• Qualifying transactions include deposits, checks cleared, ACH deposits or payments, and signature or PIN-based purchases made with a debit card.
• A minimum daily balance of $50,000 must also be maintained for the first three statement cycles.
• The $1,000 bonus will be credited to your account within 10 business days after the three-statement cycle qualification period provided all qualifying conditions have been met.
• Offer not valid for existing FSF business checking accounts.
• New business memberships and accounts are subject to approval, not all applicants will qualify.
• Offers are subject to change or withdrawal without notice, please see us for complete details.
• Federally insured by NCUA.
• 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 doesn’t have any monthly fees to worry about. 

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee

Our Verdict

Not a bad deal if you have the spare money. If you put the $50,000 into a 5% APY earning account for three months you’d earn $625 so this is better but not by a massive margin. 

Hat tip to reader ShawntheShawn

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