BB&T continues to offer a $100 cash bonus for opening its free checking account. However, they have made it a little harder to get the full $100. Here are the steps required:
- Open a Free BB&T checking account online by 8/31/2010
- Register online at bbt.com/welcome100
- Get $50 for making 10 online bill payments ($25 minimum payment) within 90 days of account opening
- Get $50 for receiving two direct deposits of at least $50 from the same source within 90 days of account opening
Here's the direct link to the promotions page. It's also mentioned at BB&T's home page.
The old promo in March made it easier to qualify for the $100 bonus. It could be done with only 3 online bill payments. No direct deposit was required.
In my March post, several readers have reported that BB&T makes it difficult to close accounts. If you can't make it into a branch, you may be required to mail in a notarized letter requesting that the account to be closed. One reader commented that he wasn't required to mail a notarized letter, but instead he was required to mail a copy of his ID with the letter.
The free checking account has a minimum opening deposit of $50. There are no minimum balance requirements or monthly fees. Online Bill Payment is free.
I asked the CSR in March about a hard credit inquiry. According to the CSR, "it would be a hard hit if you are primary on the application." The credit check is done through Equifax. They also use ChexSystem in the application process.
I was also told that BB&T accounts can only be opened in states with BB&T branches. That now includes Texas (BB&T took over Colonial Bank and its Texas branches when it failed in August 2009).
It's an online promotion only. However, in the small print it states that it's available at the branches in AL, FL and TX. BB&T branches are located in Florida, Georgia, Alabama, North Carolina, South Carolina, Tennessee, Kentucky, Indiana, Texas, Virginia, West Virginia, Maryland and Washington DC.
BB&T is a member FDIC (FDIC Certificate # 9846).