[PA, OH, MD, DC, VA, NC, SC, WV only] First National Bank (FNB) $400 Checking Promotion – Doctor Of Credit

Update 12/8/22: Looks to be available in PA, OH, MD, DC, VA, NC, SC, WV.

Update 1/8/22: Deal is back and valid until December 31, 2022.

Update 9/1/21: Deal is back and valid until December 31, 2021. Hat tip to reader EK

Update 2/19/21: Deal is back, but only valid in Germantown, MD, Tysons, VA, Asheville, NC and Greensboro, and NC (DOWNTOWN). Valid until February 27, 2021

Update 10/7/20: Now available in Offer available in the following geographical locations: PA, WV, NC, SC, OH (excluding Cuyahoga County in OH)

There is a $600 bonus that’s better

Offer at a glance

• Maximum bonus amount: $400
• Availability: Offer available in the following states: PA, OH, MD, WV, NC, SC, DC PA, WV, NC, SC, OH (excluding Cuyahoga County in OH)
• Direct deposit required:  Yes, total of $2,500+ within 90 days
• Additional requirements: See below
• Hard/soft pull: Soft 
• ChexSystems: Unknown
• Credit card funding: Up to $100, all payment networks are accepted. 
• Monthly fees: None with eStatements
• Early account termination fee: 180 days, $50
• Household limit: One
• Expiration date: November 14, 2020

The Offer

Direct link to offer

• First National Bank is offering a bonus of up to $400 when you open a new checking account. Use promo code PEN4000121. Bonus is broken down as follows:
  • Earn $150 when you make direct deposits totaling $1,500 or more or Earn $250 when you make direct deposits totaling $2,500 or more
  • Earn $150 when you make 10 online bill payments using FNB’s Online Bill Paying Service

The Fine Print

• Offer does not apply to multiple checking accounts.
• Existing FNB checking accounts or accounts converting to another personal checking account are NOT eligible for this offer.
• You can receive only one new checking account reward related offer per household per calendar year; bank employees and members of their household are not eligible for this promotion.
• FNB may offer multiple promotions to its customers at one time.
• Even if you met the requirements for multiple promotional offers you are only eligible for and will receive one promotional reward offer.
• Checking accounts closed by customer within 180 days of opening are subject to a $50 account early closing fee.
• To the extent required by law, First National Bank will report the value of this reward to the IRS on Form 1099 MISC.
• Any applicable taxes are the responsibility of the account holder.
• In the event that we determine in our sole discretion that your account does not meet the eligibility criteria or the activity on your account does not qualify to meet the required conditions, we will not be obligated to credit your account with the reward payout.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The easiest account to keep fee free is Freestyle checking, there is no monthly fee as long as you have eStatements enabled.

Early Account Termination Fee

$50 fee if closed within 180 days of account opening

Our Verdict

Previous best bonus was $150 or $250 targeted. This is obviously a significantly better bonus. Bit annoying that direct deposit is required but considering it’s for $400 total this is worth doing and we will add it to our best bank bonuses.

Hat tip to reader Nav

Useful posts regarding bank bonuses: