$50 Checking Account Bonus with No Direct Deposit at FirstBank - CO, AZ & CA Only

FirstBank is having a checking account promotion with a $50 bonus for opening a checking account. According to the instructions, the $50 award will be given at account opening. The $50 bonus isn't that much, but unlike bonuses from other banks, this is quick and easy without a direct deposit requirement.

This is very similar to their last year's promotion. When I posted on it last year, readers mentioned being told by FirstBank that only people in their market area were eligible to open accounts. Here's part of an email a reader received from FirstBank. I highlighted the info on the eligible areas.

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.

The small print of this promotion is at the bottom of FirstBank's checking account page. Some of the important small print includes:

• Minimum opening deposit of $50 required to receive the gift.
• Award will be given at account opening
• Offer valid for personal checking accounts opened
• Limit one gift award per household, per 12-month period. Limit one gift per account.
• $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

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

A reader reported last year that they do a hard credit inquiry in the application process. This can temporarily ding your credit score. Another thing to be aware of is that checks are not free. I was told last year that you can choose not to receive them. You may have to call and request that you don't want checks.

Branches are mostly located in Colorado. There are also branches in the Phoenix, Arizona metro area and in the California cities of La Quinta, Palm Desert and Indio.

The bank has been FDIC insured since 1985 (FDIC Certificate # 26460).

Credit for this find goes to Blogging Banks.

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.

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