Central Bank MyChoice Checking $500 Bonus

1. 1

   Open the account with promo code COMMUNITYROOTS

   Open any eligible personal Central Bank checking account using offer code COMMUNITYROOTS, with an opening deposit of $50 or more. Free Checking is not eligible. MyChoice Checking is the common pick.

2. 2

   Receive $5,000 in direct deposits

   Receive two or more direct deposits totaling $5,000 within 90 days of account opening. Only payroll, pension, and government benefit direct deposits qualify.

3. 3

   Keep $50 in the account

   Hold a minimum balance of $50 in the account 90 days after opening to receive the bonus.

Central Bank deposits the $500 into the checking account within 15 business days after you meet all the requirements and the account has been open 90 days.

Account Details

Eligibility

Tips & Gotchas

• →The $5,000 is cumulative across the whole 90 days, not per month. That works out to about $1,667 a month, which one ordinary paycheck stream clears.
• →Use the offer code COMMUNITYROOTS at account opening. The disclosure says you have to bring in a mailer or use the offer code.
• →There is no debit card transaction count and no real balance hold. You only need $50 in the account at the 90-day mark.
• →MyChoice Checking has a $5 monthly fee, waived with electronic statements plus $500 or more in direct deposits per statement cycle. Meeting the bonus requirement clears that on its own.
• →Free Checking does not qualify for the bonus, so pick a different account.
• →Central Bank branches are in Missouri, Kansas, Oklahoma, Colorado, Illinois, and Florida, and the bank reserves the right not to open accounts outside its market area.

Direct Deposit Data Points 9

9 community reports across 5 transfer sources, showing what triggers a qualifying direct deposit at Central Bank.

View all Central Bank direct deposit data points →

Can You Earn This Bonus Again?

Fine Print

To receive the $500 checking bonus, open and maintain any personal checking account except Free Checking. Deposit $50 or more at account opening and have at least two or more direct deposits with a cumulative total of $5,000 within 90 days of account opening. A minimum balance of $50 is required 90 days after account opening to receive the bonus. Qualifying direct deposits include any direct deposit from payroll, pension, or a government benefit. Bonuses are reported to the IRS as interest and are deposited into the checking account within 15 business days after the account meets all requirements and has been open for 90 days. Available to new to bank checking account customers only. Not available to those whose accounts have been closed with a negative balance within the last 2 years. You will receive only one new checking account opening related bonus every two years from the last date an incentive was paid. One bonus per household. The customer must bring in a mailer or use the offer code to receive the incentive. Central Bank reserves the right not to open accounts for customers outside its market area. The checking account promotion ends 12/31/2026.

Taxable income · Reported on 1099-INT

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