Posted by William Charles on July 20, 2017
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Published on July 20th, 2017 | by William Charles


[MO only] Callaway Bank $160 Checking Bonus – Direct Deposit Not Required

Reposting as it’s a soft pull.

Offer at a glance

  • Maximum bonus amount: $160
  • Availability: In branch only, all locations are in Missouri
  • Direct deposit required: No
  • Additional requirements: Yes, 12 debit card transactions totaling $100+
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Yes, up to $250
  • Monthly fees: None
  • Early account termination fee: 90 days, $35 fee
  • Household limit: One
  • Expiration date: July 31st, 2017

The Offer

Direct link to offer

  • Get $160 when you open a new checking account with Callaway Bank and complete 12 debit card purchases (of at least $100 combined) within 2 months.

The Fine Print

  • Requires $100 minimum deposit to open account.
  • All regular account opening procedures apply and are subject to approval.
  • Free checks include one box of standard duplicate checks.
  • Cash bonus of $160 requires account to have 12 debit card purchases with a combined total of at least $100 within 60 days of the account opening.
  • The bonus will be reported as interest earned on IRS Form 1099-INT and you are responsible for any applicable taxes.
  • The bonus will be credited to your new checking account within 6-8 weeks after debit card transactions are completed.
  • Account must be open to receive bonus.
  • One offer per household.
  • Individual must be 18 years or older to qualify and present a valid ID at account opening.
  • Existing Callaway Bank checking account holders or those whose account closed within the past 6 months are not eligible.
  • Offer expires July 31, 2017.
  • See a Personal Banker for further details.

Avoiding Fees

They offer a free basic checking account with no monthly fees to worry about (eStatements are required apparently). I wasn’t able to find a fee schedule so I am unsure on whether they charge an early account termination fee or not. According to this comment it’s $35 if closed within 90 days.

Our Verdict

No direct deposit is very nice, shame it has to be opened in branch but at least it’s a soft pull. I’ll add this to our best bank bonus list. As always share your own data points in the comments below.

Useful posts regarding bank bonuses:

32 Responses to [MO only] Callaway Bank $160 Checking Bonus – Direct Deposit Not Required

  1. CM says:

    The real question is whether it’s MO-friendly.

  2. AB says:

    This would be a great deal for Mizzou students. But not really worth my time to drive 90min each way from St. Louis (possibly twice if you have to close in branch as well).

  3. Curmudgeon says:

    Looks like most of the branches are in the Columbia, MO area. I’ll be there this week for business so I’ll see if I can make it to the bank and get more info.

  4. plungerjoke says:

    I’m a resident of STL MO, and I’ll be visiting Columbia MO in late July. If I have time, I’m going to try to pop in and get signed up for this. Will report back (even though it won’t be helpful to most so close to the end date).

  5. Devin G says:

    DP: I think this is the 8th or 9th bank account that I’ve opened this year. Their methods seem to be low tech.

    There’s a referral program where every person you refer, you get $160 within two weeks after they open an account. I referred one person and got a $160 bonus one week later. The referral is not a unique code that they input into the system, they simply take your personal info (name, address, number, email) and match up your account manually with the person you refer to award you the referral.

    I opened this account and met the requirements on 6/12, I’ll update this DP when I get the bonus.

  6. plungerjoke says:

    FYI — according to response via Facebook from the bank–this does apply to accounts opened online.

    Maybe that has changed since it initially started…

  7. CryptoChrist says:

    Work took me into Columbia today. I opened without issue and was given the option to open with a credit card as cash advance. I opted for my debit card since i am newer and unsure on credit advances.
    Received debit card for the account on site. I am ready to start my Amazon debit transactions.
    Opted out of every overdraft and I’ll be watching my credit score for any pull.
    Thanks DoC!!!

  8. plungerjoke says:

    Made prior comment about this–the offer doesn’t say in branch, and via social media I was told it counts on online open accounts too….I’m in STL MO and they had to mail me some stuff.

  9. Curmudgeon says:

    Can open online!

    Scroll down a bit to see the “Open your checking account today!” banner. Click on it. Enter in your info.

    After a few screens, you’ll see a page with the different account types and associates fees. On my browser this page was 5x the size of everything else, but hidden on the bottom right corner (can only see if you scroll over), it will have 4 boxes saying “Add free basic checking (yes/no)”, same with ultimate, basic interest and ultimate interest checking.

    You have to choose YES on one of the options or the next page of disclosures won’t work.

    My application crapped out at this point so I called the bank and their tech person called me back to finish the application. They will mail out a packet of info, including signature card whether or not you can finish the online app.

    She said if I had been able to complete the online app there would be credit card funding available, up to $1000 (no guarantee, but that was her recollection).

    Also found out you need to be Missouri resident to open account.

  10. Jay says:

    Just tried online. This is my first ever bank denial. I’ve opened 8 bank accounts in the last year. This was the verbiage, followed by ChexSystems’ info.

    Notice of Adverse Action

    We are sorry but we are unable to accommodate your request to open a deposit account with our institution at this time. In evaluating your application the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The agency did not make the decision and is unable to supply specific reasons why we have denied your request to open a deposit account with our institution.

  11. Curmudgeon says:

    Bank routing # is 081501696

    I couldn’t find it anywhere on the site or on my paperwork. Had to get it from bank rep on chat.

  12. plungerjoke says:

    Bonus posted today. Opened online 7/12. If they ever offer this again–probably/maybe good to go to open online.

    • CryptoChrist says:

      Thanks, plungerjoke. I am still waiting on my bonus. When did you complete the $100 debit purchases? Utilize amazon gift cards? Thanks again.

  13. Curmudgeon says:

    Callaway does allow mobile deposit of money orders, but your account has to be open for at least 30 days before they approve you for mobile deposit.

    I successfully deposited a WalMart money order a couple of days ago although I did have to take the picture twice to get their system to recognize it. There doesn’t appear to be any hold on the funds either.

    Per chat rep, there is no hard limit on mobile deposits, either quantity or dollar amounts.

  14. Curmudgeon says:

    This took a bit of effort – had to contact bank via chat twice to get bonus to post.

    Opened account online 7/22/17 (see above – had to send in some paperwork)
    All debits completed by 8/14 (six of varying amounts at Walmart and six .50 Amazon reloads)
    Bonus posted on 10/17

    Thanks DoC!

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