BB&T $125 Checking Account Bonus That Doesn’t Require Direct Deposit

BB&T has brought back its $125 checking account promotion. Like the one last year, you can qualify for the bonus without direct deposit. That’s rare these days. The one downside remains the same. All of BB&T's checking accounts have potential monthly service fees. So if you open the checking account for the bonus, you have to make sure to avoid the fees.

To qualify for the $125 bonus, customers must open a BB&T checking account and either 1) use online bill pay for 3 bill payments with a minimum payment of $25 OR 2) receive 2 direct deposits of at least $100 each. The offer is scheduled to end on 4/30/2014.

When I tried to use the online application, the promotion code was prefilled with a code that didn’t work. I checked with the CSR via the chat service, and I was told the correct promotion code is AKOAZ. So make sure you use this promo code when you apply.

Below is the offer's important small print:

Eligibility: This special limited-time offer is available for personal checking accounts only that are opened between 01/01/2014 and 04/30/2014. Offer cannot be combined with any other offer. Offer is limited to one incentive per household and does not apply to second or multiple personal accounts. To receive the $125 incentive, clients must open a checking account and do at least one of the following: 1) Use BB&T OnLine® bill payment service to initiate three online bill payments (minimum payment of $25) from your new checking account within 90 days of account opening OR 2) Enroll in and receive two direct deposits (minimum of $100 each) to the new personal checking account within 90 days of account opening. Any account not in good standing, closed, and/or with a balance less than or equal to zero at the time we review account eligibility (between 90-120 days of account opening) will not receive the $125 incentive. Normal minimum opening balance requirements apply.

Credit for this find goes to FW member centrifuge41 who posted this bonus in FW finance.

Watch Out for Monthly Fees

As I mentioned above, BB&T has ended its free checking account in 2011. BB&T Bright Banking has a $10 monthly maintenance fee unless you meet at least one of the following requirements:

• Combined ACH direct deposits totaling $500 or more per statement cycle OR
• $1,500 average checking balance per statement cycle OR
• $6,000 combined personal deposit balance and/or personal loan balances
• BB&T personal mortgage, any amount

Those 62 and over can qualify for BB&T Senior Checking which has a lower monthly fee and lower balance requirements to avoid the monthly fee.

Regarding a hard credit inquiry (that can temporarily ding your credit score), I was told that when you apply for an account, BB&T "may require a credit check and/or a ChexSystems report be pulled for account approval." I assume that credit check may be a hard pull.

Availability

I was told by the bank's CSR that a new customer must have an address in BB&T's footprint to open an account. BB&T branches are located in Florida, Georgia, Alabama, North Carolina, South Carolina, Tennessee, Texas, Kentucky, Indiana, Virginia, West Virginia, Maryland and Washington DC.

Closing a BB&T account

In my post from 2010, several readers 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.

BB&T Bank Overview

BB&T is one of the nation's largest banks. It has $176 billion in assets and over 1,800 branches throughout the Mid-Atlantic, Southeast and Texas. BB&T added 346 branches and expanded into Texas in 2009 when BB&T acquired the failed Colonial Bank.

The bank has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 7.58% (excellent) based on September 2013 data. Please refer to our financial overview of BB&T for more details. The bank has been a FDIC members since 1934 (FDIC Certificate # 9846).

Other Bank Bonuses

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the banking deals forum.