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$50 Checking Account Bonus at FirstBank

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FirstBank is having a checking account promotion in which you can get a $50 gas card for opening a Free checking account. According to the instructions, you'll automatically have the gas card mailed to you once you open the checking account online. The $50 bonus isn't that much, but unlike bonuses from other banks, this is quick and easy without a direct deposit requirement. Plus, according to the banking rep, people from any state should be able to apply online.

Update 7/18/08: A reader has reported that the promotion is limited to Colorado and certain areas of Arizona and California.

Some of the important small print of this offer includes:
  • must open your new personal or business checking account on or before September 15, 2008
  • $50 award is considered interest and is subject to IRS and other tax reporting
  • if the account is closed within the first six months, the bonus can be revoked
  • allow 7-10 days for the card to arrive
The Free Checking Account does have a few potential fees, but you should be able to avoid them:
  • Internet Banking is free if you agree to receive your statements electronically, otherwise it is $3 per month
  • If you enroll for the optional Bill Payment Service and less than three bill payments are made per month, a $5 inactivity fee will be assessed
I also called their toll-free number (800-964-3444) for some additional questions. Here is what I was told:
  • Regarding a hard credit pull, they do run some type of credit inquiry. The CSR couldn't say if this would be a hard or soft type of pull. Update 7/18/08: A reader has reported that this is indeed a hard pull.
  • The first box of checks is not free. However, you can choose not to get them. The CSR wasn't sure if you could choose this in the applcation, but you can call to request this. The lowest cost for checks is $10.50.
  • People from any state can apply online
Branches are mostly located in Colorado. There are also a few in Arizona and California. The bank has been FDIC insured since 1985 (FDIC Certificate # 26460).

  Tags: California, Colorado, Arizona, checking account, FirstBank

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Comments
8 Comments.
Comment #1 by Anonymous posted on
Anonymous
Thanks Bankingguy. During the online appl. process, they ask you if you want to order checks and you can say "no".

1
Comment #2 by Anonymous posted on
Anonymous
Ditto for 55+ checking account

1
Comment #3 by Anonymous posted on
Anonymous
For 55+ checking checks are free with no printing charge

1
Comment #4 by Anonymous posted on
Anonymous
There's a more lucrative referral program going on as well. When you refer a new customer the refer and the account opener both get a $50 Visa gift card which I think is more flexible than a gas card that may require you to buy only over priced gas from the major oil company stations.

You also didn't mention that after the first year, there is a $7/yr charge to keep the debit card.

1
Comment #5 by Joe F. (anonymous) posted on
Joe F.
THIS DOES NOT WORK FOR PEOPLE WHO DON'T LIVE IN COLORADO OR LIMITED SEGMENTS OF ARIZONA AND CALIFORNIA. YOU WILL NOT GET A CARD!

1
Comment #6 by Anonymous posted on
Anonymous
They also pull a hard credit report...I clarified this.

1
Comment #7 by Anonymous posted on
Anonymous
As Joe F. said, I was unable to even open an account. I applied last night and got an e-mail this morning stating the following:

"Thank you for your recent request via the Internet. We appreciate your interest in FirstBank’s products and services. Because you currently reside outside of FirstBank’s trade areas (the state of Colorado, the city of Palm Desert, California, or the Phoenix, Arizona area), we are unable to further process your request at this time."

1
Comment #8 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the comments. I've updated the post with this info.

1