Posted by William Charles on October 11, 2016
Bank Account Bonuses

Published on October 11th, 2016 | by William Charles

100

[Expired] [AZ, IA, IL, WI, CO, NM] Bank & Trust $500 Checking & Savings Promotion



This offer has expired, you can view more checking bonuses here.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: AZ, IA, IL, WI, CO, NM only
  • Direct deposit required: Yes, three required no minimum specified
  • Additional requirements: Yes, see below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: Waivable
  • Early account termination fee: 90 days or bonus forfeit and $25 fee.
  • Expiration date: December 31st, 2016

The Offer

See below for direct link in eligiblity



  • Open a new account with Bank & Trust and receive a bonus of up to $500, bonus is broken down as follows:
    • Register for eStatements by March 31, 2017 to receive a $65.00 bonus
    • Have a minimum of 45 debit card purchases post to your new checking account within 90 calendar days to receive a $135.00 bonus [Read: How to meet debit card transaction requirements]
    • Have a minimum of three (3) direct deposits post to your new checking account within 90 calendar days of account opening to receive a $150.00 bonus
    • Open a qualifying savings account within the promotional bonus period and maintain a $5000 average balance for 90 calendar days from the open date of the savings account to receive a $150.00 bonus

bank-trust-500-bonus

Eligiblity



This deal seems to be available across a lot of different state specific ‘bank & trust’ brands. Here are the direct links:

The Fine Print

  • Bonuses only apply when opening a new checking account during the promotional bonus period.
  • The promotional bonus period is 10/1/2016-12/31/2016.
  • If the account is closed by the customer within 90 calendar days after opening we will deduct bonuses received at closing. Closing the account will negate any unearned bonuses.
  • A $25 account closing fee may also apply.
  • Each bonus item is eligible for a maximum of one payment.
  • All bonus dollars will be paid to the newly opened checking account.
  • If multiple checking accounts are opened during the promotional bonus period under the same primary owner name, the bonuses will be paid to the account that was opened first.
  • An IRS 1099 form may be issued.
  • Register for eStatements by March 31, 2017 to receive a $65.00 bonus. The bonus will be paid within five (5) business days after you enroll in eStatements. Existing customers currently enrolled in eStatements will not qualify for the eStatement bonus.
  • Have a minimum of 45 debit card purchases post to your new checking account within 90 calendar days to receive a $135.00 bonus. The bonus will be paid within five (5) business days after your 45th debit transaction posts.
  • Have a minimum of three (3) direct deposits post to your new checking account within 90 calendar days of account opening to receive a $150.00 bonus. The bonus will be paid within five (5) business days after your third direct deposit posts.
  • If multiple checking accounts are opened during the promotional bonus period under the same primary owner name during the promotional bonus period the direct deposit and debit card transaction requirements can occur on any of the new checking accounts.
  • Open a qualifying savings account within the promotional bonus period and maintain a $5000 average balance for 90 calendar days from the open date of the savings account to receive a $150.00 bonus. Qualifying savings accounts under the same primary owner name, where available, include Regular Statement Savings, Passbook Savings, or High Yield Savings. The bonus will be paid to the checking account within five (5) business days after the savings account has been opened for 90 calendar days.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

You need to keep the accounts open for at least 90 days otherwise you’ll forfeit the bonus. There is also a $25 early account termination fee if you close within 90 days according to the fee schedule. The easiest checking account to keep fee free is the free checking account with eStatements, you just need to enroll in eStatements (required for $65 bonus anyway) to avoid the $2.5 fee.

They don’t publish the interest rates on the savings accounts but regular is fee free with $100 balance and passbok is fee free with $500 savings, high yield is free with $10,000 in savings (more than required for the bonus).

Our Verdict

You need to provide your details for a banker to get back to you, but should be able to open in branch pretty easily. Because of the huge size of this bonus I think it’s worth the hassle of the bonus requirements, thankfully keeping the account fee free isn’t such an issue. We’ve added this to our list of the best checking and savings bonuses. They are also offering a $200 money market bonus, but that is only available to existing cardholders.

Please share your datapoints about this bonus in the comments below.

Useful posts regarding bank bonuses:



100 Responses to [Expired] [AZ, IA, IL, WI, CO, NM] Bank & Trust $500 Checking & Savings Promotion

  1. AD says:

    Finally a good AZ bonus. Gonna need to know if it’s a hard pull. Nice that they break the bonus up among different activities – if I don’t want to go for the debit one I can just stick with the DD and estatements and savings account.

  2. rd says:

    Seems like a lot of hoops to jump thru..

  3. Andy S says:

    Lots of hoops, but excellent payback – how often do you see a 5 Benjamin bonus?
    Would be nice to know what qualifies as DD – I only get paid once a month, so it’s going to be a little tricky to time it for 3 DD’s in 90 days.

  4. jack says:

    If multiple checking accounts are opened during the promotional bonus period under the same primary owner name, the bonuses will be paid to the account that was opened first.

    That means multiple accounts in same bank or across all the list of bank brands?? Can we open accounts in both Illinois Bank and First Community bank and get bonus from both banks?

  5. misty says:

    Thank you for the alert on this great Bank Bonus.

    I do not see any info on Bank & Trust as to what might qualify as a direct deposit
    Will an update post?

    Thanks again. Great Blog!

  6. Ken says:

    I think for $500 (and a possible $200 extra for the Money Market) it will be worth even a hard pull. And if they pull EQ or TU even better, because all my pulls are on EX.

  7. MG says:

    Signed up for this and got the call today (I’m in IL). Forgot to ask about hard pull issue. They said it must be opened in branch, but when I mentioned that I didn’t live near one (they don’t have any in the Chicago area) they didn’t say that would be an issue. It’s just that I’ll have to go in branch to open next time I’m in their area.

    • If you find out if it’s a hard/soft pull please let us know.

    • Ted says:

      Same here. I was told there will be a ChexSystem inquiry. I didn’t have a chance to ask about hard inquiry before I was told she will get back to me about how to apply (she never did).

    • jack says:

      I got call back from First Community bank today. Was told that I’ve to be in that area to open the account. Is that true? I’m at 2hr drive from the bank location.

      MG- Did u hear from First Community bank or IL Bank?

      DP: It’ll be a soft check as per the banker.

  8. alex says:

    can anyone confirm if this is for 1 account per bank or only 1 account across all banks??

  9. Jimmy Shotgun says:

    Since many people who live in Illinois are mostly in chicagoland area, the closest branches are in the rockford area about 50 miles away…I might bite the bullet and take a drive out that way and hopefully can close account in a few months via letter so a 2nd trip isnt needed.

    • Moose Cow says:

      There’s one in Joliet which is closer than Rockford. Still considering whether it’s worth the time/money for the drive.

      • Moose Cow says:

        Nvm, there isn’t one in Joliet, was a different bank. Rockford told me 50 miles too(over phone).

        Knew this was too good to be true.

  10. Ramesh says:

    Please let me know what should be the minimum direct deposit amount each time

  11. Mark says:

    Is this Arizona Bank and Trust or First International Bank and Trust? That’s all Google Maps show for the Phoenix area

  12. Ken says:

    Emailed the branch a few days ago, and I received a reply today. Opening an account is only a soft pull, not a hard pull. It’s one per person, so a couple living at the same address could both get the bonuses as long as they do not open joint accounts. Going to the branch and applying in person is required. They’re open 9-5 M-F, so I don’t know when I’d be able to make it for my wife, as she doesn’t normally get home till close to 5.

    • jack says:

      Ken-could u confirm which bank you contacted? By any chance, did u check with them if we need to be in bank service area or any area to open the account?

  13. Mr. PTM says:

    Opened account today in branch (Denver, Centennial Bank and Trust). Very easy. I only opened checking today and will open savings once Citi $400 offer is completed (you’re eligible for savings offer any time during Q4, not just when you open the checking). Was also able to setup online banking same day. Didn’t ask about hard pull, but no mention of it in the documentation I received. I’m guessing it’s only Chex.

    DP: minimum deposit on checking is $25 and $100 on savings.

  14. Jeff says:

    Opened the checking and savings in Wi, using my Virginia D/L, so you can be from out of state and not live near a branch. No credit card funding at my branch – said credit card machine. Banker said chex would be pulled before I applied. They were not inquiry sensitive, as I am a pro at this. Takes about 2 weeks to get debit card by mail. Was able to sign up for online access using SSN and account details right away.

    • Jeff says:

      Edit: said NO credit card machine

    • jack says:

      Did u give VA or WI address as mailing address? can we reside in 1 state and still open account in another state?

      • Ken says:

        Well, since they use the address from your license I’m just going to assume they meant they used their VA address. He even said you could be from out of state.

      • Jeff says:

        I used my out-of-state address. Yes, they got my address from my drivers lic. Just told them I was visiting family but wanted a local checking and savings account. Said I would mostly be an “online customer”. They had no issue with that.

        Received my debit card in the mail today, in VA. Having trouble using it online, and will call tomorrow to see what I need to do to activate it. (no sticker on it saying that I had to call)

        Already got my $65 estatement bonus, and $150 DD bonus . PSA: For estatements, you have to enable them online by going into your account settings. I would have thought that when you sign up in branch for an estatement account, clearly named estatement checking when you login, it would have been automatic, but YOU MUST opt in online to avoid the statement fee. For the $150 DD bonus, all I did was have 3 different external bank accounts do my trial credits to setup ACH. (Discover, PNC and a lesser known credit union) Also, had 1 small amount ACH come did in from the CU.. and bam, bonus posted.

    • Mendel says:

      which means, anyone living in any state can open in Branch?

      • Ken says:

        That’s what it looks like.

      • Jeff says:

        They made it sound like any US resident could open an account… but, YMMV. The lady had to pull out the books and called someone to verify before letting me open an account, so that would suggest that it doesn’t happen often. Before you make a “trip” you might want to call, but I had no issue, other than taking awhile to process. (around an hour from start to finish)

  15. JT says:

    Could i take advantage of the saving account bonus separately from the rest of the offer?

    Thanks!

  16. Jimmy Shotgun says:

    Any person that spoke to a bank rep or opened…So there’s no minimum for DD?

  17. Ken says:

    Wife and I opened an account yesterday. This isn’t advertised, but they have a rewards checking account that pays 2% up to $20k if you make 15 debits/month, sign up for eStatements, and have a direct deposit of any amount. That’s an extra $17/month over a regular 1% account in addition tot he $500 bonus.

  18. Mendel says:

    Can u live out of state if u open in branch?
    Out of state meaning outside of states listed…

    • Jeff says:

      Yes, I did. Call the branch if you are having doubts. I just told them I was visiting and wanted a local checking account.

  19. Dan says:

    Just commenting from WI, Passbook savings has 0.55% interest rate on balances up to $250k and cash rewards offer 1.5% on up to $20k if you have direct dep and 15 debit transactions–otherwise 0.01%

  20. Patrick says:

    I opened an account in branch at the Centennial Bank and Trust in Denver last Tuesday. The $65 e-statement bonus posted on Friday. I made three ACH transfers each from both Amex Serve and my Chase checking account which all posted on Friday (6 deposits total), and the $150 Direct Deposit bonus posted the same day. Not sure whether it was the transfers from Chase or Serve that triggered it, but my guess is either one would have been enough. I did both just to be doubly sure, though in hindsight I should have just tried one so I could know for sure which triggered the bonus.

  21. Ken says:

    Looks like the trial deposits from my Barclays and Schwab accounts triggered the direct deposit $150 bonus.

    • jack says:

      From the trial deposits date, in how many days was the bonus posted? I didn’t get bonus amount after the trial deposits 2 days now??

  22. Ken says:

    So when the bonus terms say “maintain a $5,000 balance for 90 days from the account opening” what exactly does that mean? If I don’t move the $5k till day 9 do the first 8 days factor into the “average $5,000 balance for 90 days)? Maybe I’ll email my banker to clarify.

    • Luke says:

      Each daily balance added up together, then divided by 90 will give you an average daily balance. Unless you put in 5k on day 1 and leave it there you are going to have to put more then 5k to make up for the days you had less. I put together a spreadsheet that totaled and averaged 90 balances and found I’ll need to keep around $5,500 for the rest of the time to bring my average up.

      • Ken says:

        Yup, received a reply from my banker. It’ll be roughly $5700 for me, but I’m just going to move $6k to my wife’s and my savings account. And then another $20k for my wife and I to get the 2% interest on the rewards checking account. That’s ~$17 more than I’m getting on my regular 1% account elsewhere. Banker also said the 15 debits/month can be done via online purchases, so that should make things easier.

        • Paul says:

          Did you end up receiving the savings bonus with $6000 over less than 90 days (instead of $5000 for the full 90 days)? AZ B&T is denying my bonus because I didn’t have $5000 there on the very first day the account opened, even though my “daily average / 90 days” was well above $5000… and the banker when I opened the account told me that would be ok.

          @DoC: What’s the definition of “average daily balance”? Do I have grounds to keep pushing back on AZ B&T to get my $150 savings bonus?

          • Ken says:

            Yes, both my wife and I received all of the bonuses. The terms state average daily balance and not $5,000 every day. That would be impossible since you’d have to deposit more than $5k since the funds wouldn’t post the first day anyways.

        • Paul says:

          Ken, thanks for the quick response! The banker is giving me problems… not sure how to proceed. I’ve sent several messages and this is their latest response:

          “The Daily Average Balance must be at $5,000.00 for 90 days. Not $5,000.000 after 90 days. In order to receive the promotion bonus, the balance must be at $5,000.00 or above every day for the first 90 days that it is opened.”

          • Ken says:

            It’s simple math, and you can explain to them how to calculate an average. Add up the balance for every day and then divide by 90 to get your 90 day average.

            Are you talking to a single person in a branch? If they can’t do that basic math I’d be going over their head.

        • Paul says:

          Yeah, I actually had already sent that math [($100*90 days + $90*84 days + $2900*77 days + $3200*72 days) / 90 days = $5225 average] in my secure message online, and the quote in my previous comment was their response to that message.

          This is all via SM online. I think I will ask for a supervisor.

      • Jeff says:

        Same boat here. I should have waited to open the savings until I had 5K liquid. Just requires more math and capital at the end, but I am sure I can figure it out. I will have to leave a cushion in there, in case I missed a day.

  23. Jimmy Shotgun says:

    For Illinois….Drove 70 miles to Rockford, Illinois from chicago suburbs…was told over the phone by CSR all you need is DL and SS to open, no residency restricitons, sat down with banker, she said Il ive over 50 miles from nearest branch and they check if its over 50 miles, what a waste of time.

    • NJ says:

      Hi Jimmy,

      Feel sorry about you. I also went to Rockford, IL branch but before I went in, I called to make sure I could open the account because I stay 110 miles away from the nearest branch. I called both branches in Rockford, IL and Teller from one of them (with zip code 61108) told me the same thing which you experienced above. However, When I called in to the other branch (one with zip code 61109), I was told anyone could open the account and distance doesn’t matter. I went there and was able to open the account successfully. Posting this just in case you want to try again. Please make sure the call in before you go so your time is not wasted again and save the Banker name with you for reference.

      • Jimmy Shotgun says:

        I called the 61109 branch, spoke to a banker. Same result, trying one more. Do you work in Rockford? If not you got lucky.

        • Jeff says:

          Maybe the IL branches differ from WI & the others, or branches in “rural-ish areas” have different rules? Seems like other states are opening accounts for out-of-state peeps. I had no issue in De Pere, WI.

  24. Samwise says:

    I live over 50 miles away in IA and was able to open an account. However, I haven’t been able to get into online banking so I will have to call.

  25. I signed up at a branch in Colorado. After signing up for estatements, I received the $65 bonus. I used Capital One and transferred $25. It worked as direct deposit…and I already received the $500 bonus. Still working on the other bonuses. So far, I’m very happy!!

  26. NJ says:

    DP: Discover ACH triggered the Direct Deposit requirement. Got $150 2 days after the deposits were made.

  27. Aaron says:

    Two of the four requirements were incredibly easy. $65 for the estatement sign up (which the banker did for me in branch when I signed up), posted a couple days later, and then the DD requirement, which triggered with Wells Fargo test deposits and one $10 deposit, and posted 1 day later. If you include the time spent opening the account in branch, that’s like 20 minutes of work for $215. Plus, they’re offering $50 referral coupons, of which family members are eligible (they’re not a one per household thing). Super easy money here.

    Not sure if I’ll even bother with the extra effort on the 45 debit swipe option. Either way, getting a quick $215 is fantastic.

    • Patrick says:

      Just get an Amex Serve or Bluebird card and link your debit card to it. You can do 45 $1 loads to it, and then transfer the money right back to your bank account. Worked great for me and the bonus credited the day after the 45 debit transactions finished posting.

  28. bonus help says:

    Long time lurker/reader and first time poster here. I just got back from a branch after opening the checking and savings accounts.

    I am planning on using bank transfer ACH transactions for the required three direct deposits. I am assuming, these have to be initiated at the other bank(s) not Bank & Trust. Correct? Do they have to be spaced apart or can they be within days/hours of each other?

    For the 45 debit card transactions, can I do gas station, supermarket/grocery store swipes without getting flagged?

    Thanks in advance and thanks to DOC for an excellent website for bank bonus offers.

    • Yes it’s always better to do an ACH push rather than a pull (because you wouldn’t do a pull for your salary). Don’t know if there is any required spacing or not, but probably wouldn’t hurt to make them on different days. And yes to debit card transactions AFAIK, hope that helps!

      • bonus help says:

        Thanks Bill. They also signed me up for Generations Gold: http://gengold.com.
        It can be canceled after period.

        • bonus help says:

          I just checked their mobile app and my two bonuses posted. One is $65 for estatements and second is $150 for direct deposit. My direct deposits are initiated but didn’t show up in my account activity yet. They probably are in pending state and don’t show up yet.

          P.S.: DOC, why the green background for text with links? Makes it difficult to read.

          • bonus help says:

            Funny, only two ACH should have been initiated. Third one is scheduled for 25th — 8 days from now. But the dirdct deposit bonus already posted to my account. Looks like one direct deposit/ACH may be enough.

            It has been only 51 hours since I opened my accounts and I already have two of the bonuses posted. This is my quickest & easiest bonus.

          • That’s part of the theme, we have plans to update it to look nicer but it costs $$$.

  29. bonus help says:

    It’seems probably a little CSS tweak.

  30. adam says:

    I had a shit storm with this bank. I wanted to close out my Citibank checking account that I received a $400 bonus from. I didn’t want to transfer 2k at a time from citi to hit the 5k balance needed in az bank and trust BC that would just be a pain in the ass. Instead I wrote a 5k check from the checks Citibank gave me when I opened the account with them.

    Bad idea. Citi denied the check even though I had about 10k in the account BC apparently before you can use checks with Citi bank you have to “activate” check writing. What the fucking fuck? Really?

    Az bank and trust put some kind of weird hold on my account which showes it NEGATIVE 5K. I called several times and they did Jack shit until some VP called me to tell me my account would be closed. That 5K hold on the account was removed and the $300 or so I had in the account was clawed back. I walked away with about $150 in bonus money.

    My $1 direct deposits and 45 $1 Amazon transactions made me look like a gamer plus the bad check look like a dead beat criminal. This was all due to shitty bank not honoring my check. It was a pain in the ass.

    Idk if this will lead to a negative remark on my chexsystems report. I fucking hope not. This was about the 20th bank account I had opened in 2016.

    • thedimt says:

      The negative hold is standard for a new account which has a check deposited at AZ B&T. They put a hold on funds for all checks for a period of 1 month from the account opening. Normally your account would have shown both a +$5000 and -$5000 which would cancel out for available balance so you would not be able to withdraw funds that potentially would not clear or have payment stopped in the case of fraud.

      The “Held” balance would still count toward the amount available in the account for the purpose of the $5k savings balance and accruing interest. It was only due to the check bouncing that the negative account value occurred in your case. You might have a negative mark for the bounced check, but you shouldn’t for the negative balance which was just a quirk of their computer system.

  31. Paul says:

    Can you add the states for this to the Best Bank Account Bonuses page? It gets me every time. 🙂

  32. Tim says:

    I filled out the online form for 4 designated locations in my area and have not heard from any of them. It has been over 2 weeks. Can this be opened online? I have opened 13 checking accounts in 2016 (2 twice) and I am hesitant to go into the branch and be rejected. Does this bank use ChexSystems?

  33. Charles says:

    Was able to trigger the direct deposit bonus for WI B&T with Ally. 2 direct deposits from the trial deposits and 1 from an actual transfer.

  34. Dan says:

    I just signed up in Denver. An interesting thing I didn’t see mentioned here, and maybe they only recently changed it, but the offer in the branch said that the 45 transactions have to be signature transactions. The banker told me that if I’m at the grocery store just hit credit instead of debit and it will come up as a signature transaction.

    • Steven says:

      Well hopefully not. I just completed my 45 Amazon reloads. I’ll report back if the bonus posts.

      • rick says:

        You should be good. Most of my 45 were 50-cent Amazon reloads, with a few small grocery/gas purchases (run as credit, not debit) thrown in for good measure.

        Bonus posted within a day or two from completion of the 45.

  35. whodidntante says:

    This has expired.

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