Posted by William Charles on August 30, 2015
Bank Account Bonuses

Published on August 30th, 2015 | by William Charles


[Expired][TN only] F&M Bank Offering $250 Checking Bonus In Branch

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

Reposting this due to the fact we now know it’s a soft pull to open.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Must open in branch, all branches are Tennessee. Branches are in Clarksville, Springfield, Greenbrier, Dover, Bumpus Mills, Lebanon, Mt. Juliet, White House, Murfreesboro, Hendersonville, and Cookeville.
  • Direct deposit required: Optional, $500+ for two months (+$200)
  • Additional requirements: Open with minimum deposit of $200 (+$50)
  • Hard/soft pull: Soft
  • Credit card funding: Unknown, unlikely due to in branch requirement
  • Monthly fees: None
  • Early account termination fee: $25, 90 days
  • Expiration date: June 20th, 2015 July 31st, 2015 None specified


The Offer

Direct link to offer

  • F&M Bank is offering a sign up bonus of up to $250 on any of their checking account, the bonus is broken down as follows:
    • $50 for opening any checking account with a minimum deposit of $200. Bonus will be deposited at the time of opening
    • $100 for setting up a recurring direct deposit of $500 or more within 60 days of account opening. Bonus will be posted within 30 days of receiving the initial direct deposit
    • $100 for receiving your second direct deposit of $500 or more. Will be deposited within 30 days after the second direct deposit.

f&m $250 bonus

The Fine Print

  • Direct deposits are payroll check, pension or social security check
  • Limit of one bonus per household, cannot be combined with any other offer
  • Not available to existing F&M checking customers or previous customers that have closed their accounts within the last 12 months
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

According to their fee schedule there is an early account termination fee of $25 if you closed your account within 90 days of opening. If your checking account is dormant for twelve months or more you’ll also be charged a $5 per month fee.

F&M bank currently has four checking accounts that qualify for this bonus:

  • Smart E-Checking: No monthly fee
  • Express Checking: No monthly fee
  • VIP Interest Checking: $8 per month, waiveable
  • Choice Interest Checking: $15 per month, waiveable

Our Verdict

This is a nice big bonus and the requirements aren’t too difficult to meet. The downside is that you have to go in branch to open the account. If you live near a branch I’d recommend this bonus, otherwise it’s not worth going out of your way for.

We’ve added this to our banking bonus database.I’ve also added it to our region specific part of the best bonus page.

Direct link to offer | Screenshot of offer

Hat tip to Maximizing Money

8 Responses to [Expired][TN only] F&M Bank Offering $250 Checking Bonus In Branch

  1. Jan B says:

    Finally one that I can do quite easily. Because there is a military town connection at one of the branches shown, I can ask directly if an allotment will meet the DD requirement. This will be be very helpful for my travel.

  2. Jan B says:

    Follow up report

    Yes, I did this. But, not for me alone but with a joint holder (a disabled sister).

    They could not have been nicer. Even handled the gov’t DD request over the phone with the agency. That was superior service!!! Set it up to have the free checks mailed to the branch to lessen the chance of ID theft with an unsecured mailbox.

    The $50 was put in immediately when I handed over my $200 opening deposit.

    I fully expect the second bonus payment to go into the account as soon as the first direct deposit hits. WIll try to remember to post again in June with a report.

    SO far, SO good.

  3. Jan B says:

    Next update.

    The $100 was put in the same date the gov’t DD hit (6/3). They keep their word!!!! I am so happy. 🙂

  4. Jan B says:

    PS. Two down, one to go.

    And, I am looking into having to having the DD receive an allotment as a direct deposit so we can go for another bonus.

  5. Sandy says:

    Hi Will,
    Opened the E-Smart Checking yesterday at F&M Bank. It was a soft pull.
    The $250 bonus has been extended for a “limited time”. The CSR didn’t know when it would expire.

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