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$50 Checking Account Bonus at a Tennessee Bank (Independent) - Update

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Independent Bank is offering a $50 bonus for opening its free checking account. This special is not listed at the bank's website. It was advertised in today's Memphis newspaper. The ad is available online here. One thing to note is that the only apparent requirement for the bonus is new money to open the account. There is no mention of direct deposit. The free checking account requires an opening deposit of $100, but there are no minimums after account opening and no monthly fees.

In February this bank had a similiar promotion, but the bonus was a $50 gift card. This time it seems to be a cash bonus. Note, readers who checked with the bank in February commented that it was only available to those in the local area.

Branches are located in Memphis and Collierville, TN. The bank has been FDIC insured since 1998.
  Tags: Tennessee, checking account

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Comments
3 comments.
Comment #1 by Anonymous posted on
Anonymous
Can't open the account over the phone or by mail. Have to come to the branch

1
Comment #2 by Anonymous posted on
Anonymous
Opening an account was easy and fast, about ten minutes of time. I opened the account with $100 and the deposit slip showed a $150 deposit. So the $50 cash bonus is instant. Also, the free checking account comes with 125 free checks. It's a good deal!

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Nice to see the instant bonus!

1