First Commonwealth Bank's $200 Checking Bonus: A No-Direct-Deposit Deal Worth a Look

If you're tired of bank bonuses that require setting up a complicated direct deposit, this one might catch your eye. First Commonwealth Bank is running a promotion that pays you $200 just for using your new debit card a handful of times. It's a regional offer, but if you live in their service area, it's a straightforward way to pocket some extra cash without jumping through the usual hoops. Let's break down what you need to know.

What Makes This Bonus Stand Out

The most appealing part of this offer is the complete lack of a direct deposit mandate. So many checking bonuses hinge on you rerouting your paycheck or other automatic deposits, which can be a hassle. Here, the focus is purely on spending.

Your ten qualifying purchases can be almost anything you'd normally use a debit card for: swiping at the grocery store, buying gas, paying a bill online, or setting up a small recurring subscription. As long as the transaction posts to your account within that 60-day window, it should count. This makes the bonus very achievable with regular, everyday use.

The Fine Print You Shouldn't Skip

While the requirements are simple, there are always details to watch. First and foremost, you must be a new checking customer. If you or anyone else on the account has had a First Commonwealth personal checking account before, you won't qualify. You also can't have received a promotional credit from them in the past year.

The bank does use ChexSystems, which is standard for checking accounts. If you have a less-than-perfect banking history, they specifically mention a 'Confidence Checking' account designed for that situation. It's worth asking about if you're concerned.

Remember to use the promo code 'FCB22024' when you open the account, whether you do it online, on the phone, or in a branch. If you forget, you'll likely miss out on the bonus.

• The bonus will be deposited into your account within 60 days after you meet all requirements.
• The value of the bonus may be reported to the IRS on a Form 1099, so plan for potential tax implications.
• The minimum to open most of their checking accounts is $50, though their Confidence Checking account has no opening deposit requirement.

Practical Tips for Getting Your $200

To make this as smooth as possible, plan your ten purchases. Don't wait until the last week. As soon as you get your debit card, start using it for small, routine expenses. A coffee here, a tank of gas there—it adds up quickly.

Keep a simple log or check your online banking regularly to ensure your transactions are posting. Sometimes pending charges don't count until they fully clear.

Since this is a regional bank, double-check that you live in an eligible state (PA, OH, IN, KY, or WV) before you start the application. Also, be prepared to provide standard identification and personal details.

Is This the Right Account for You Long-Term?

A bank bonus is great, but you should also consider whether you'd want to keep the account open afterward. First Commonwealth offers digital banking, mobile check deposit, and Zelle. Their 'Confidence Checking' account notably doesn't charge overdraft fees, which is a rare and consumer-friendly feature.

However, their interest rates on checking and savings are typically not competitive with online banks. If you're primarily chasing the bonus and plan to move the money later, that's a common strategy. Just be aware of any potential fees for closing the account early (the terms aren't explicitly stated, so it's a good question to ask when you open it).

Also, note that the $50 referral bonus is stackable with this $200 offer. If you know someone else who might want an account, you could both benefit.

Bottom Line

• A $200 bonus with no direct deposit requirement is a rare and valuable find.
• Success hinges on making 10 debit card purchases within 60 days—plan for small, regular spending.
• Check your ChexSystems history and eligibility for the 'Confidence Checking' account if needed.
• This is a regional offer, so confirm you live in PA, OH, IN, KY, or WV before applying.
• Consider the account's long-term fit for you after you've collected the bonus.

Common Questions