First Horizon Bank $700 Checking & Savings Bonus: A Solid Deal for Southerners

If you live in the Southeast or parts of Texas, here's a bank bonus worth your attention. First Horizon Bank is dangling a hefty $450 just for opening a new checking account and setting up direct deposit. And if you're willing to park some extra cash in a savings account, you can stack another $250 on top, bringing the total to a cool $700. That's a serious chunk of change for a few minutes of paperwork and some routine banking.

How to Snag the $450 Checking Bonus

The checking bonus is the bread and butter here. You need to open a new consumer checking account between now and December 31, 2026. The account must be opened online or in a branch, and you'll need to be a new First Horizon customer—so if you've had an account with them in the past two years, you're out of luck. That's a longer anti-churn window than many banks use, so keep it in mind.

Once the account is open, you'll need to receive at least $2,000 in qualifying direct deposits within 90 days. That means recurring payroll, pension, or Social Security deposits. Person-to-person transfers, Zelle, or other electronic transfers don't count. So if you're self-employed or get paid irregularly, you might need to plan ahead.

The bonus lands in your account within 15 business days after you've met the requirements. Just make sure your account stays open and in good standing for at least 90 days, and keep a positive balance. Also, the $50 minimum opening deposit is required, so don't forget that.

Stacking the Extra $250 with a Savings Account

Want to turn that $450 into $700? You'll need to open a savings account on the same day you open the checking account. The savings account has to be the corresponding one for your checking type—like Traditional Savings for FirstView, Money Market Savings for SmartView, and so on.

Then, deposit at least $3,000 in new money into the savings account within 30 days. That money has to come from outside First Horizon—you can't just transfer from your new checking. And you need to keep a daily collected balance of $3,000 for 90 days. Once that's done, the extra $250 will be deposited into your checking account within 15 business days.

This is a great deal if you have the cash sitting around. But if you don't, the checking bonus alone is still solid. Just remember, the savings bonus is tied to the checking bonus—you must meet the checking requirements first.

Fees and Fine Print to Watch Out For

The good news: the FirstView checking account has no monthly maintenance fee, as long as you opt into paperless statements. If you don't, you'll be hit with a $2 monthly fee. That's easy to avoid—just go paperless.

The early account termination fee is nonexistent, but there's a catch: if you close your account within six months, you'll forfeit the bonus. So don't close early.

Also, the bonus is reported as interest on a 1099-INT, so you'll owe taxes on it. And the offer is only available to individuals, not businesses, and can't be combined with other offers. You also need to be a U.S. citizen and at least 18 to apply online.

Is It Worth It?

Absolutely, if you meet the eligibility. The checking bonus alone is $450 for just $2,000 in direct deposits—that's a 22.5% return on your direct deposit amount. And with the savings bonus, you're looking at $700 for $3,000 in savings, which is a 23% return. That's better than most high-yield savings accounts offer in a year.

The main hurdle is the 50-mile radius from a branch. If you live in a rural area, you might be out of luck. But if you're near a First Horizon branch in the eligible states, this is a no-brainer. Just be sure to read the full terms on the offer page before you apply.

Bottom Line

• Up to $700 total bonus: $450 for checking with $2K direct deposit, plus $250 for savings with $3K deposit and 90-day balance.
• No monthly fees on FirstView checking if you go paperless; no early termination fee, but bonus forfeited if closed within 6 months.
• Eligibility requires living within 50 miles of a First Horizon branch in eligible states, and no First Horizon account in the last 24 months.
• Direct deposits must be payroll, pension, or Social Security—not transfers or Zelle.
• Bonus is taxable as interest; keep that in mind for tax season.

Common Questions