City Bank Texas is offering a $100 bonus for opening a free checking account at its Grand Prairie branch. The offer ends 10/31/08. The minimum opening deposit is $50, and the account must remain open for 3 months. The special isn't listed at the bank's website. A reader emailed me info on this promotion, and I called the branch yesterday for more details. According to the CSR, there's no direct deposit requirement or other similar requirements. It does require you to visit the Grand Prairie branch.
I was told that both their Reward Checking Account and Free Checking Account qualify for this bonus. Both come with free checks for life. I reported on their reward checking account in this June post. The current yield is only 3.56% APY and this requires 20 debit card purchases plus additional requirements that are more than what most reward checking accounts require. However, unlike most reward checking accounts, this one doesn't have a balance cap for the top yield. If you don't meet the requirements, the account is still free, but you just won't receive the high interest and ATM fee refunds.
$50 Bonus for Texas Residents
For those who live in Texas but don't live near Grand Prairie, there's a $50 sign-up bonus for the reward checking account. As I described in my reward checking review, the $50 bonus is offered in the the bank's online application ("apply now" buttom on the reward checking webpage).
Branches are located in several Texas cities including Lubbock, Dallas, El Paso and Plano. The bank has been FDIC insured since 1984 (FDIC Certificate # 25103).
Thanks to the reader who emailed me info on this promotion.