- Debit Card Usage - 3 purchases per month for 2 consecutive months with the debit card
- Direct Deposit - 2 $50 direct deposits are posted to your checking account
- Online Bill Pay - 3 different bills are paid online per month and debited to your checking account for 2 consecutive months.
If only two of the above activities are done, the bonus is $25, and if only one activity is done, the bonus is only $10. The bonus will be credited to your account within 30 days of completing each requirement. Cash bonuses may be subject to 1099 reporting. If the account is closed within the first 12 months, they have the right to debit your account for the bonus.
Free first order of checks if you open by phone
According to the customer service rep, the account can be opened by people in any state. It can be opened online or by phone. However, I was told if you open by phone, you'll receive the first book of checks free. This won't be the case if you apply online. You can fund the account with a check or an ACH transfer. The minimum deposit to open the account is $50. More details about the Totally Free Checking is available at this AmTrust page.
No Hard Credit Pull
The CSR said there is no hard credit pull when you apply. She said it's just a soft pull, and has verified it herself when she had applied for this account. I was a little surprised by this since AmTrustDirect has long used hard credit pulls for its online savings accounts. Let me know in the comments if you've received a hard pull from opening this account.
AmTrust Bank is FDIC insured (Certificate # 29776). Branches are located in Ohio, Arizona and South Florida.
For more info on AmTrust's internet bank AmTrustDirect and its 5.26% savings account promotion, please refer to this post.
Thanks to the reader Andrew who mentioned this promotion in the finding-the-best-deals post.