Offer at a glance
- Maximum bonus amount: $500
- Availability: TX only
- Direct deposit required: Yes, $2,500+ per month for three months
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $25, avoidable
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: January 13, 2023
The Offer
- Texas Capital Bank is offering a $500 bonus when you open a Premier checking account and complete the following requirements:
- Fund your account within 30 days with at least $25,000
- Maintain an average monthly balance of at least $25,000 for 90 days
- Set up deposits totaling $2,500 per month, for the first 3 consecutive months.
The Fine Print
- Eligibility: To be eligible for the offer, your Texas Capital Bank Premier checking account must be open without being changed to a product with lower requirements and in good standing at the time of fulfillment.
- Limit one cash bonus offer per customer, including all individual and joint accounts.
- Customers (Primary or Secondary) who have a current or past Texas Capital Bank deposit account within the past 6 months from account opening date are not eligible for this offer.
- Qualifying electronic direct deposits or transfers include, but are not limited to salary, pension, Social Security, or other regular monthly income deposited through the Automated Clearing House (ACH) network to this account by your employer or an outside agency, totaling $2500 per month for 3 consecutive months, starting from the 1st calendar month after month of account opening.
- The cash bonus to your Texas Capital Bank eligible checking account will be reported on the applicable IRS form.
- Texas Capital Bank employees are not eligible for this offer.
- All promotional offers, products and services offered by Texas Capital Bank are subject to updates, modifications and/or termination by Texas Capital Bank.
- 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 a $25 monthly fee, this is waived if you have a deposit of $25,000+.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not.
Our Verdict
You’d earn $250 in interest if you put the $25,000 into an account earning 4% APY for three months, so this is actually a smaller bonus than it looks. Still worth doing for some people if you have the spare funds and have done the bigger/better bonuses available. We also don’t know if there is a soft/hard pull or if it’s a ChexSystems sensitive.
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