First Tennessee Offers $150 Checking Bonus
Now through August 31, 2017, First Tennessee is offering a $150 bonus when opening a new Premier Checking account and a $50 bonus when opening a Money Market Savings account. Full details are described at this First Tennessee promotions page.
$150 Premier Checking Bonus
- Opening deposit of at least $300. Funds cannot be transferred from existing First Tennessee accounts.
- At least one direct deposit within the 60 days of account opening.
- Must be new checking account customers, or have not had an open First Tennessee checking account for at least 12 months
- Limit one bonus per household
- Account must remain open and in good standing for at least six months
- Bonus will be credited to account within six weeks of the first direct deposit.
The Premier Checking account has a $12 monthly service fee that can be waived if “you have at least $5,000 in combined deposit balances (Checking, Savings, bank IRA, CDs).”
$50 Money Market Saving Bonus
- Opening deposit of at least $2k and total deposits of at least $5k within 30 days of account opening. Funds cannot be transferred from existing First Tennessee accounts.
- Must be new savings account customers, or have not had an open First Tennessee consumer savings account for at least 12 months
- Limit one bonus per household
- Account must remain open and in good standing for at least six months
- Bonus will be credited to account within six weeks of meeting all requirements.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 0.70*% | $50k | - | First Horizon Bank | Money Market Savings | |
| OTHER TIERS: 0.35% → $0 - $50k | |||||
The Money Market Savings $9 monthly fee will be waived if the “combined deposit balances in First Tennessee accounts is at least $5,000.”
I’ve been writing about First Tennessee bonuses for the past ten years, and frankly, these two don’t compare that favorably to those offered in the recent past. The most recent checking bonus, which expired on May 31, 2017, offered $200 for fulfilling the same requirements, and all First Tennessee checking accounts qualified for the bonus. In February, I wrote about introductory rates (up to 1.50% APY for six months) on the Money Market Savings; that offer also expired at the end of May.
Availability
Headquartered in Memphis, First Tennessee’s market area for both promotions includes Alabama, Arkansas, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, and Virginia. As stated earlier, the $150 Premier Checking bonus and $50 Money Market Savings bonus are available through August 31, 2017.
Applying for the $150 bonus and opening a new Premier Checking account can be done online using the code SWT150, or by opening the Premier Checking account and presenting a copy of the Certificate at any of 154 full-service branches, the vast majority of which (150) are located in Tennessee.
Applying for the Money Market Savings $50 bonus can be done online using the code SVSC50, or at any full-service branch location. If opening in-branch, a copy of the offer must be presented when opening.
Bank Overview
First Tennessee has an overall health rating of "A" on DepositAccounts.com, with a Texas Ratio of 5.96% (excellent), based on March 31, 2017 data. In the past year, First Tennessee has increased its total non-brokered deposits by $2.04 billion, an excellent annual growth rate of 11%. Please refer to our financial overview of First Tennessee (FDIC Certificate # 4977) for more details.
In March 1864, Frank S. Davis recognized the potential of the National Banking Act of 1863 and opened Memphis' first national bank. That bank grew into today's First Horizon National Corporation, the parent company of First Tennessee Bank and FTN Financial. First Tennessee Bank is currently the largest bank in Tennessee and the 59th largest bank in the country, with assets in excess of $29.4 billion.
Other Bank Promotions and Bonuses
Not eligible for First Tennessee’s bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.
