Guaranty Bank $200 & $300 Checking Bonuses: Easy Cash for Mississippi & Tennessee Residents

If you live in Mississippi or Tennessee and have been thinking about switching banks, Guaranty Bank is making it worth your while. They're offering up to $300 just for opening a new checking account, and the requirements are pretty straightforward. No complicated hoops to jump through.

What's on the Table?

Guaranty Bank is running two main promotions for new customers. Open a personal checking account and you'll get $200. If you have a business, the bonus jumps to $300. Both are available to residents of Mississippi and Tennessee who visit a branch or apply online.

The best part? The personal checking offer doesn't require a direct deposit. That's a big deal because most bank bonuses force you to set up payroll deposits. Here, you just need to open an eligible account and keep it in good standing for 30 days.

• Personal checking: Freedom Checking, Secure Checking, Ultimate Checking, or SAM Student Checking
• Business checking: Guaranty Edge Checking, Commercial Analysis Checking, or Business Checking with Interest
• No direct deposit needed for personal accounts
• Bonus credited within 4 weeks after meeting requirements

How to Snag the $200 Personal Bonus

The process is simpler than you might expect. First, choose one of the qualifying personal checking accounts. The Freedom Checking requires a $50 minimum opening deposit, Secure Checking needs $100, Ultimate Checking needs $25,000 (that's a high bar), and the SAM Student Checking only needs $25.

Once your account is open, keep it active and avoid any overdraft or NSF fees for the first 30 days. That's it. No direct deposit, no debit card transactions—just don't mess it up. The $200 will show up in your account within about a month.

One thing to watch: you can't transfer money from an existing Guaranty Bank account to fund the new one. They want fresh money.

The Business Checking $300 Offer

For business owners, the $300 bonus is a nice little boost. You'll need to open a Guaranty Edge Checking, Commercial Analysis Checking, or Business Checking with Interest. The minimum opening deposit varies by account type, so check the details before you apply.

Same rules apply: keep the account in good standing for 30 days, avoid overdrafts, and don't use existing Guaranty Bank funds to open it. The bonus lands within 4 weeks after you meet the conditions.

Don't Forget the Referral Bonus

If you're already a customer, you can earn an extra $50 by referring friends or family. Just register at the referral portal, send them an invite, and when they open a qualifying account and meet the requirements, you get paid. You can earn up to $500 per year this way.

• Refer up to 10 people per year for $500 total
• Referred person must open a new checking account within 60 days
• Both referrer and referee must meet eligibility requirements

Watch Out for Monthly Fees

Most of these accounts have monthly maintenance fees that can eat into your bonus if you're not careful. The Freedom Checking charges $8 per month unless you keep a $1,000 minimum balance. Secure Checking is $10 with the same waiver. Ultimate Checking is $15 but requires a $25,000 daily balance to avoid it.

For business accounts, the Guaranty Edge Checking has a $14 monthly fee that's waived with a $2,500 balance. Commercial Analysis Checking is $16 but can be offset with earnings credits. Make sure you understand the fee structure before you open the account.

Practical Advice

This is a solid offer for anyone in the region who needs a new checking account. The lack of a direct deposit requirement makes it especially attractive for people who don't have a regular paycheck or prefer to keep their payroll elsewhere.

Just remember that the bonus is taxable—you'll get a 1099-INT at the end of the year. And if you close the account too early, you might forfeit the bonus or get hit with fees. Plan to keep it open for at least a few months.

Also, the offer is limited to new customers. If you already have an account with Guaranty Bank, you won't qualify. But you can still earn through the referral program.

Bottom Line

• Earn $200 personal or $300 business checking bonus with no direct deposit needed for personal accounts.
• Available in Mississippi and Tennessee at participating branches or online.
• Offer expires December 8, 2024—apply soon.
• Watch for monthly fees; most can be waived with minimum balances.
• Bonus is taxable and credited within 4 weeks after meeting 30-day requirements.

Common Questions