Hey there! If you're in Arizona and looking for a straightforward way to pocket some extra cash, Pinnacle Bank has a checking account promotion that might catch your eye. It's a solid $300 bonus, which is nothing to sneeze at for a bit of banking paperwork. The offer has a long runway, but like all bank bonuses, it comes with specific steps you need to follow to get that money into your account. Let's break down what this deal involves and what you should consider before jumping in.
How to Claim Your $300
Getting this bonus isn't automatic. You have to follow their process to the letter. First, you'll need to open a new checking account, either at a local Arizona branch or through their online application system.
Here's the crucial part: To activate the bonus offer, you must send an email. This is a common but easy-to-miss step. You'll need to contact their virtual banking team with a specific subject line that includes the offer code. After that, you'll need to fund the account with at least $100 and arrange for a qualifying direct deposit to hit the account.
- Open a new checking account online or at a branch.
- Send an email to the bank's virtual banking department. Use 'Offer Code 300' in the subject line and include your full name.
- Make your initial deposit of $100 or more.
- Set up and receive at least one qualifying direct deposit into the new account.
The Fine Print You Don't Want to Miss
The bonus money won't show up immediately. The bank states it will be credited a full 90 days after you open the account, and only after that direct deposit requirement is satisfied. So, you need a little patience.
Also, be aware of the account's fee structure. There's a $5 monthly service charge. You can avoid this by opting for electronic statements only—if you choose paper statements, you'll get hit with an additional $5 fee each month. That adds up quickly!
There's also a potential early termination fee. If you close the account within 90 days of opening it, not only will they likely take back the bonus, but they might also charge you a $75 early closure fee. Plan to keep this account open for at least a few months.
Is This Bonus Right for You?
This is a great offer if you live in Arizona, don't mind a simple monthly fee (or can avoid it with e-statements), and were already planning to switch where your paycheck gets deposited. The $300 is a nice reward for that effort.
However, if you're not in Arizona, this offer is a non-starter. Also, if you're someone who hates monthly fees of any kind, there are other national bonuses from fee-free online banks that might be a better fit, even if the bonus amount is slightly lower. The requirement to send a separate email is a bit old-fashioned and is an extra hurdle you must remember to clear.
Bottom Line
- Activate the offer by emailing the bank with the correct code—don't skip this step!
- Opt for electronic statements to avoid the $5 monthly service fee.
- Keep the account open for over 90 days to secure the bonus and avoid a closure fee.
- This offer is exclusively for new customers in Arizona.
Common Questions
What counts as a direct deposit?
The offer details specify a direct deposit is required, but don't list exact types. Typically, banks define this as an ACH deposit from an employer, pension, or government benefits. It's wise to confirm with the bank what they accept to be sure your deposit will qualify.
Can I open this account if I already have other accounts with Pinnacle Bank?
No. The promotion is explicitly for new bank customers only. If you have an existing savings or loan with them, you should check with a banker to see if you're still eligible for this new checking account bonus.
When will I actually get the $300?
The bonus will be deposited into your new account approximately 90 days after you open it, but only after you've received at least one qualifying direct deposit. So the clock starts ticking on the 90 days from your account opening date.
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