Snag a $300 Bonus from FirstBank – Here's How (and What to Watch For)

If you live in Colorado, California, or Arizona and you're on the hunt for an easy bank bonus, FirstBank has a solid one right now. They're offering $300 when you open a new consumer checking account and set up direct deposit. The offer was just extended through July 1, 2025, so you've got a few months to get it done. But there are some quirks to know before you jump in.

What You Need to Do to Get the $300

First, you'll open a new eligible checking account online at efirstbank.com or at a branch. Make sure you mention the bonus when you open it – bring an ad or just say the magic words. Then enroll in online banking. The big lift is the direct deposit: you need at least $500 hitting your account each month for three months in a row. It can't be a bunch of smaller transfers cobbled together – it has to be one deposit of $500 or more per month, from payroll, pension, Social Security, or similar recurring government benefits.

Your first qualifying deposit must land within 60 days of opening. Once you've satisfied all three months and the 120-day window, FirstBank will drop the $300 into your account within 30 days. Just make sure your account stays in good standing (no overdrafts, not at zero) and that you're enrolled in online banking before that third direct deposit posts.

The Fine Print That Could Trip You Up

This isn't a bonus you can chase over and over. FirstBank has a strict one-per-lifetime rule per household. So if you've ever snagged a bonus or promotional gift from them before, you're out of luck. Also, if you've closed a FirstBank checking account within the last 90 days or had one closed with a negative balance, you won't qualify.

Another thing: the $300 counts as interest for tax purposes, so you'll get a 1099-INT next January. And if you close the account within 12 months of opening, they can take the bonus back. So plan to keep the account open for at least a year.

Is This a Good Deal? A Few Things to Consider

Three hundred bucks for setting up direct deposit is a pretty straightforward offer, especially if you already have a regular paycheck or government benefit. But FirstBank isn't known for stellar savings or CD rates, so don't plan on parking a ton of cash here long-term. Use it for the bonus, meet the requirements, and then decide if you want to keep it as a secondary account.

Also note: the offer is limited to new customers only – existing checking customers are not eligible. And if you're in a state other than CO, CA, or AZ, you're out of luck. Double-check their branch locator if you're unsure.

Bottom Line

• Open an eligible checking account by July 1, 2025, and set up $500+ monthly direct deposit for three months to earn $300.
• You must keep the account open for 12 months or risk losing the bonus. One bonus per household per lifetime.
• The bonus is taxable interest. Use this as a quick cash boost, not a long-term savings play.

Common Questions