$75 Checking Account Bonus at Guaranty Bank

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Guaranty Bank is offering up to $75 for opening its Free & Easy Checking by July 31, 2008. The following is required:
  • The account opening balance must be equal to full face value of the Economic Stimulus payment.
  • Must present paper stimulus check or valid bank statement showing the IRS direct deposit at account opening.
  • Account must remain open and active (at least 1 deposit per month) through 12/31/08
The bonus will be automatically credited to the account in January 2009.

This promotion doesn't seem to be listed at the bank's website. A reader emailed me the scan of the promotion ad, and I've posted the offer overview and the small print.

The Free & Easy Checking has some nice features:
  • free checks for life
  • no minimum balance requirements
  • one free overdraft per year
When I called the bank last year, the CSR said they only do a ChexSystem check with no hard credit inquiry.

The bank also offers the SavingsPayBack program which allows you to earn $100 each year. This just requires that you also open a regular savings account and set up monthly automatic transfers from the checking into the savings. The savings account earns very little interest, but the automatic transfers only have to be $10, and the savings account has a minimum balance of only $25.

Guaranty Bank has over 175 branches, many in grocery stores, in five states including Wisconsin, Illinois, Michigan, Minnesota, and Georgia (see branch locator). The bank is FDIC insured (FDIC Certificate # 30003).

Thanks to the reader who emailed me the scans of the promotion.
Comments
Anonymous
Anonymous   |     |   Comment #1
I don't see where i can apply online.Do you know if this offer is available nationwide?
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Since the promo requires you to present your paper stimulus check or bank statement showing the IRS direct deposit, it appears to require a branch visit. I had tried calling to get more info, but I had trouble getting through to a CSR. If you can get more info, please comment.
Anonymous
Anonymous   |     |   Comment #3
I have used this bank and they are miserable to work with. They play games, don't tell you what rules they are playing by, and are like vultures waiting to pounce on their prey. I learned the hard way never to deposit checks there. I cash them first somewhere else and then deposit the cash. Otherwise, even local checks get held for 4 or 5 business days. A LOCAL cashiers check I deposited on Monday of this week won't be credited to my account Tuesday of next week all because I used a wrong deposit slip. They have these secret deposit slips, but don't put them out or tell you about them. If I had used the right one, my money would be available the next day.
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