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[AR, OK] First National Bank of Fort Smith $200 Personal Checking & $250 Business Checking Bonus

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Note: This operates under four different names:

These all seem to be divisions of First National Bank of Fort Smith, but have different geo areas but we’ve used First National Bank of Fort Smith for this post. 

Offer at a glance

  • Maximum bonus amount: $200/$250
  • Availability: Arkansas and Oklahoma
  • Direct deposit required: Yes, no minimum
  • Additional requirements: See below
  • Hard/soft pull: Unknown 
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None with eStatements
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: December 31, 2025

The Offer

Direct link to offer

  • First National Bank of Fort Smith is offering a $200 personal checking & $250 business checking bonus. 
    • Open with promo code NEW2YOU
    • Within first four statement cycles set up a direct deposit and sign up for online banking

The Fine Print

  • Once the 4-statement cycle qualification period has elapsed, we will determine if you
    have met the offer requirements and will deposit any bonus earned into your new
    checking account within 30 days.
  • The new checking account must remain open throughout the qualification period and
    at the time we attempt to deposit any earned bonus payment. Please note that an
    account with a zero balance may be closed by us without prior notice, as further
    described in the Deposit Account Agreement.
  • You are responsible for any federal, state, or local taxes due on the bonus. We will
    report the bonus as income to the tax authorities as required by applicable law. If
    you are subject to backup withholding at the time of payment, we will withhold the
    required amount and remit to the tax authorities in accordance with applicable law.
    Consult your tax advisor.
  • This offer is for new checking customers only. Existing bank customers are not
    eligible for this offer. Only the primary owner of the new checking account is eligible
    for this offer using the promo code.
  • You must use your bonus offer code at account opening when you apply for a new
    checking account.
  • Minimum balance to open a checking account is $50.00
  • You are not eligible for this offer if:
    • You are a current primary owner of a bank consumer or business checking
      account. The primary account owner is the owner whose Taxpayer
      Identification Number, such as a Social Security Number, is assigned to the
      account and has tax responsibility.
    • You have received a bonus for opening a business or consumer checking
      account within the past 12 months.
    • You are a bank employee
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

These accounts have no monthly fees with eStatements

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF. 

Our Verdict

Don’t really understand what a direct deposit is for a business checking account and the terms don’t clarify either but hopefully the standard work arounds work. Obviously don’t know if it’s a hard or soft pull.

Hat tip to reader ShawntheShawn 

Useful posts regarding bank bonuses:

William Charles

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