BayFirst National Bank is offering up to $500 for fulfilling easy direct deposit requirements

BayFirst National Bank is offering up to $500 for opening a Simply Free checking account and/or Statement Savings account and fulfilling a few easy requirements.

The checking offer, worth up to $400

The offer only applies to new BayFirst checking customers who open a Simply Free checking account.

A minimum direct deposit of at least $100 is required each month. During the first 5 months, BayFirst will match up to $100 of your monthly direct deposits. BayFirst will match up to $400 (up to $100 a month for up to 4 months). 

The bonus is paid at the end of each monthly statement cycle.

The savings offer, worth up to $100

The offer only applies to new customers who open a Statement Savings account and also have a BayFirst checking account. Direct deposit must be established within the first 90 days. BayFirst will match your direct deposits (up to $100 total).

The bonus will be paid 91-100 days after your account is opened.

These offers cannot be combined with any other offer or coupon. The offers expire on 04/30/23.

About the accounts:

• There is a $100 minimum to open the mandatory Simply Free checking account and there’s no minimum balance required to maintain the account.
• Only $50 is needed to open the mandatory Statement Savings account and only a $50 balance is required to waive the $3 monthly maintenance fee.

The hassle-free requirements to maintain the account and the easy bonus requirements make these BayFirst bonuses one of the best bank bonuses. BayFirst is a smaller bank with just about 270 employees as of 2022, and they’ve offered generous business and youth account bonuses in the recent past. Support them by maintaining your account after you receive your bonus. 

The offers are available at https://bayfirstfinancial.com/offer-landing-pages/january-$500-offer through 4/30/2023. The site will require you to fill out a small contact form, which will advise you that someone will contact you. Behind the scenes, your information will be routed to a local branch. A representative will contact you. As mentioned, they’re a smaller bank. So, give them a few days to respond. In my case, I called a few times and, because I’m persistent and impatient, I was able to get a representative to transfer me to a local branch rep who located my information and provided me with the next steps for completing the account signup. They will request a copy of your driver license and a second form of identification. There is no hard credit inquiry. However, they will confirm if you have any derogatory remarks with other financial institutions.