Looking for a straightforward bank bonus without a ton of complicated hoops? 316 Financial (a division of Primis Bank) has a promotion running that might catch your eye. For a limited time, they're offering $100 just for opening a new checking account and moving some money through it. It's a decent chunk of change for what seems like a relatively simple process. Let's break down what you need to know to decide if it's worth your time.
How to Snag the $100
The steps are pretty clear, which is refreshing. First, you need to open a checking account online. You must use the specific promo code RELEVANT2026 during the application, and you have to complete this step by March 31, 2026. You can fund the initial deposit with just a single dollar.
Next, you'll need to arrange for at least $1,000 in qualifying direct deposits to hit that new account. The deadline for getting that money moved over is April 15, 2026. It's important to note that this isn't a 'maintain a balance' requirement—it's about the flow of money coming in.
Once you've ticked both boxes, 316 Financial says they'll deposit your $100 bonus into the account within 30 days. They also mention that if the bonus is $10 or more, they'll likely report it as interest income on a 1099-INT form, so keep that in mind for your taxes.
What Counts as a 'Qualifying Direct Deposit'?
This is often where people get tripped up, so pay close attention. According to the bank's official page, only certain types of transfers qualify.
They're looking for ACH deposits that come directly from an employer, a payroll service provider (think ADP, Gusto, or Paychex), or a government benefits program. So your regular paycheck, Social Security payments, disability, or unemployment benefits should all work perfectly.
- DO count: Paychecks, payroll service deposits, government benefits (Social Security, etc.).
- DO NOT count: Transfers you initiate from another bank of yours, mobile check deposits, or payments from apps like Venmo, Cash App, PayPal, or Zelle.
A Few Practical Things to Consider
While the offer is appealing, it's smart to look at the whole picture. 316 Financial is an online division of Primis Bank. That means you'll be banking primarily through their website and app. They do highlight 24/7 U.S.-based customer support, which is a plus if you need help.
One unique angle they promote is that they tithe 10% of their profits to ministries and missions. If supporting that kind of initiative with your banking is a plus for you, that's a notable feature.
On the practical side, some details common to other bank offers aren't explicitly clarified here. For instance, it's not definitively stated on the official page whether opening the account triggers a hard credit pull or a ChexSystems inquiry. It's always safest to assume a hard inquiry is possible when applying for any new deposit account. Also, the offer terms state a limit of one bonus per customer, and you can't combine it with other promotions.
What to Do If Your Bonus Doesn't Arrive
Sometimes, despite your best efforts, bonuses get delayed or lost in the system. The bank provides a clear path for resolution. If it's been more than 30 days since you met the requirements and you haven't seen the $100, you should contact them.
You can call 833-316-3167 or send an email. Be ready to provide details about the qualifying direct deposits you received. The terms note that in rare cases, certain debit card transactions might not be recognized by their systems, but that's more of a general disclaimer; the core requirement here is all about the direct deposits.
Bottom Line
- A solid, low-hassle $100 bonus for a simple two-step process: open an account and receive $1,000 in direct deposits.
- Pay close attention to what qualifies as a direct deposit—transfers from other personal accounts or payment apps won't work.
- Mark your calendar for the two deadlines: open by March 31, 2026, and get deposits by April 15, 2026.
- Assume a hard credit or ChexSystems inquiry is possible during the application.
Common Questions
Can I open the account with more than $1?
Absolutely. The $1 figure is just the minimum required to get the account active. You can fund it with any amount you choose.
Do I have to keep the account open for a certain time?
The official terms don't specify a required minimum account lifespan to keep the bonus. However, banks often have clauses that allow them to claw back bonuses if an account is closed shortly after receiving them, so it's wise to keep it open for at least 6 months.
Is this offer available everywhere?
Yes, 316 Financial appears to offer accounts nationwide in the United States, as it's an online banking division.
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