Bank of Oklahoma's $300 Student Checking Bonus: A Smart Deal for College Students

If you're a college student looking to open your first checking account or switch banks, Bank of Oklahoma has a promotion that's worth a close look. They're offering a solid $300 bonus for opening a student account, and the requirements are surprisingly manageable compared to many bank bonuses. Let's break down whether this deal makes sense for your situation.

Why This Student Bonus Stands Out

Most bank bonuses come with hefty direct deposit requirements—think $1,500 or more per month. What makes Bank of Oklahoma's student offer different is the low deposit threshold. You only need to put $200 into the account from any source over 90 days. That could be birthday money from grandma, a paycheck from a part-time job, or even transferring funds from another account. The 10 debit card purchases are also reasonable; you could knock those out with small grocery runs or coffee purchases.

The Nitty-Gritty: How to Actually Get Your $300

The process has a couple of important steps that are easy to miss if you're not paying attention. First, you need to provide proof you're actually a student. This is non-negotiable. If you open online, you'll need to email a photo of your student ID or acceptance letter along with your new account number to a specific email address within 60 days. If you visit a branch or call, you'll show it there.

• Open a new Access Checking account online, by phone, or at a branch.
• Provide proof of enrollment (student ID, acceptance letter) via the required method.
• Make at least $200 in total deposits within the first 90 days—any deposits count.
• Complete 10 separate debit card purchases (ATM withdrawals don't count).
• Keep the account open through the bonus payout, which happens after a 90-day review period.

Practical Advice and Potential Pitfalls

This is a genuinely good offer for students in Oklahoma, but a few things could trip you up. The biggest one is the paper statement fee. The account is free only if you opt for electronic statements. If you get paper statements mailed, it's $3 per month. That's an easy fix in your online settings, but forget to do it and you're losing money.

Also, remember this bonus is considered interest income. You'll get a 1099-INT form, so you'll need to report it on your taxes. For most students, this won't push you into a different tax bracket, but it's something to be aware of.

Finally, the 'new customer' definition is specific. You can't have been a primary or secondary holder on any Bank of Oklahoma checking account in the last 180 days. If you had a joint account with a parent when you were younger, that might make you ineligible.

Is This Account Worth Keeping Long-Term?

Once you get your $300, you might wonder if you should stick with the account. The fee-free structure with online statements is student-friendly. You also get access to a decent network of ATMs across Oklahoma. Features like Zelle, digital wallet compatibility, and card controls in the mobile app are pretty standard but useful.

That said, if you're planning to move out of state after graduation, you'll want to consider whether a regional bank still makes sense for you. Many national banks and online banks offer accounts with broader ATM networks or higher interest rates. Think of this as a great account for your college years, with a nice $300 welcome gift.

Bottom Line

• A low-effort $300 bonus perfect for students with minimal banking activity.
• Watch the paper statement fee—opt for online statements to keep it free.
• The bonus is taxable income, so plan for tax reporting next year.
• Great for Oklahoma-based students, but consider your long-term banking needs after graduation.

Common Questions