Update 3/7/25: Deal is back until April 30, 2025.
Update 11/16/24: Deal is back and valid until 12/31/24. Now in branch only. Hat tip to snailrock
Update 7/13/24: Deal is back until August 31, 2024. Hat tip to reader jay
Update 5/20/24: Deal is back from May 1 – June 30, 2024. Hat tip to reader Tol
Offer at a glance
- Maximum bonus amount: $250
- Availability: SD & MN
- Direct deposit required: Yes, no minimum
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $25, 90 days
- Household limit: None
- Expiration date: February 29, 2024
The Offer
- American Bank & Trust is offering a $250 checking bonus when you open a new checking account and complete the following requirements:
- Receive a direct deposit within 90 days of account opening
The Fine Print
- Offer available from January 1 – February 29, 2024, and American Bank & Trust (AB&T) reserves the right to withdraw this offer at any time without notice.
- Accounts are subject to approval. 1) Open a new AB&T checking account; AND 2) Have your direct deposit made to this account within 90 days of opening. Person to Person payments (such as Zelle®) or external bank to bank transfers using the ACH network are not considered a direct deposit.
- All accounts have a minimum opening deposit of $50 and are subject to applicable terms, fees, and charges.
- After the qualifications have been met, we’ll deposit the bonus in your new account within 45 days.
- If the checking account is closed by the customer within 90 days after opening, the account will be subject to a $25 early closure fee.
- Eligibility may be limited based on account ownership.
- Offers not available to those whose accounts have been closed within 6 months or closed with a negative balance within the last 3 years.
- Limit one new checking account opening related bonus every two years from the last bonus payout date per customer.
- Limit one bonus per account and per customer.
- Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 104-S, if applicable.) Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
- 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 no monthly fees to worry about
Early Account Termination Fee
$25, 90 days
Our Verdict
If anybody goes for this bonus please share your experiences in the comments below.
Hat tip to reader Gadget
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times