Dedicated to Deposits: Deals, Data, and Discussion

$180 Checking & Money Market Account Bonus at First Tennessee Bank - Local Only


First Tennessee Bank, National Association

First Tennessee Bank has another checking and money market promotion. It's not quite as good as what they were offering last year, but it's still a decent bonus compared to what other banks are offering these days. You can receive up to $180 in bonuses for this new promotion. Here's the bank's promotions page link. The offer is scheduled to expire on 7/30/2011. Here's what is required to earn the full $180:

  • $100 when you open any new checking account with direct deposit
  • $50 when you open a Money Market Savings Account
  • $30 when you start using Bill Pay Online to pay 6 bills from your new checking account by August 30

The promotion requires that you print a certificate which you take to one of their branches. The vast majority of their branches are located in Tennessee.

Below are the important details of the offer's small print. I added lines between the major sections. I also excluded the info on the money market rate tiers. As you might expect, the rates are very low. The top tier rate is only 0.30% for balances of at least $100K.

Checking Bonus: Receive $100 bonus when you open a new checking account with at least $300 by 07/30/11 and at least one direct deposit posts to this account within 60 days of account opening. $100 will be credited to the "Bonus Checking Account" within 6 weeks after first direct deposit posts and will be reported as income on Form 1099-INT.

Bill Pay Bonus: Receive $30 bonus by paying at least six (6) bills from Bonus Checking Account using Bill Pay Online between your account open date and 08/30/11. Bills are "paid" as of the date funds are withdrawn and sent to the payee. Failure to make at least six payments using Bill Pay Online by 08/30/11 will cause full $30 bonus to be forfeited. $30 will be credited to Bonus Checking Account within six weeks of the sixth bill payment.

Savings Bonus: Receive $50 bonus when you have a new or existing First Tennessee checking account, then open a new Money Market Savings account with at least $5,000 by 07/30/11. $50 will be credited to savings account within 6 weeks after requirements are met and will be reported as income on Form 1099-INT.

All Offers: Opening deposits cannot be transferred from existing First Tennessee accounts. Your account(s) must be open and in good standing at the time the credit is issued, and you agree to maintain the account in good standing for at least six months. Limit one checking, savings and Bill Pay bonus per household. Respective bonuses are for new checking, Bill Pay and savings households only, and cannot be combined with other offers. Checking and savings bonuses are not available for accounts opened online. Account openings are subject to bank approval.

Checking and Money Market Savings Accounts

The bank no longer offers a free checking account. You can compare the available checking accounts at this page. You can have the monthly fees waived for the Express Checking with direct deposit. For the Select Checking it takes both direct deposit and at least 15 debit transactions per month.

The Money Market Savings account requires a $5K balance to avoid a $9/month fee. You can also avoid the fee with a qualifying checking account.

Branch Locations

As I mentioned above, the vast majority of the branches are located in Tennessee. There are a couple of branches in North Carolina, but some of these don't seem to be for personal banking. Branches are located in several Tennessee cities including Cleveland, Nashville, Greeneville, Morristown, Chattanooga, Jackson and Knoxville.

First Tennessee a large bank with over $24 billion in assets. It has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 24.31% (average) based on December 2010 data. Please refer to our financial overview of First Tennessee Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 4977).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum and in the credit card deals forum.

  Tags: checking account, savings account, First Tennessee Bank, National Association, Tennessee

Related Posts

Comment #1 by niniss posted on
very negative experience with this bank.  In respond to their targeted email promotion early this (open a money market account with $10k and receive $100 cash bonus) I opened a money market account in February, but never received the cash bonus.  When i inquired about it, they told me that they will check on it and get back to me, and ofcourse no calls from them, so i went to the branch.  The branch mgr told me that the promotion was once in a lifetime and since i got one last year, i'm not  eligible this time.  She acknowledged that it was their marketing dept's fault to not state this clear in the promotion ad so she would talk to the marketing dept and get back with me.  Again, never heard from them.  I called again 2 weeks later and the rep responded with same answer, "will check on it and someone will call me back with answer.  And that was a month ago, I still haven't heard back from them.   Enough is enough, will not do business with them.

Comment #2 by Anonymous posted on
First Tennessee has a promotion to "Get a $200 bonus Today!" that expires 11/30/2013, from . They have a another promo to "Open premier checking account and get a $100 bonus reward" that expires 9/30/2013 at .

You must open account at a First Tennessee bank and present a copy of the certificate offer to receive the bonus. Minimum opening deposit is $500 in Premier Checking (but must have $5,000 min to avoid monthly fees) and $10,000 in Money Market Savings. You need at least 1 direct deposit to post to the new checking account within 60 days of account opening. Offer is available to new First Tennessee checking and savings households only. If you meet the stated requirements of the promotional offer, the bonus will be credited to your account within 6 weeks of the first direct deposit and will be reported as income on Form 1099-INT. Limit one bonus per household. Cannot be combined with other checking or savings offers. Customer agrees to maintain accounts in good standing for a minimum of six months. The sad part, is the APY for Premier Checking is 0.02 for balances of $0-$4,999 and 0.05% for balances of $5,000 and greater. The APY for Money Market Savings is 0.01% for balances of $0-$9,999; 0.02% for balances of $10,000 - $24,999; 0.04% for balances of $25,000-$49,999; 0.05% for balances of $50,000-$99,999; and 0.08% for balances $100,000 and greater.