Find an updated list of First American Bank promotions, bonuses and offers here.
Update 4/11/24: The referral bonus is back but now only $50 per referral (down from $100). There is also a $50 student checking bonus.
About First American Bank Promotions
First American Bank is headquartered in Elk Grove, Illinois. It was established in 1901 and now has 54 locations across 3 states.
I’ll review the current offers below.
First American Bank $50 Referral Bonus
- What you’ll get: $50 bonus
- Account Type: Checking account
- Availability: FL, IL, WI (Bank Locator)
- Direct Deposit Requirement: No
- Credit Inquiry: Unknown
- ChexSystems: Unknown
- Credit Card Funding: Unknown
- Monthly Fees: $0-$25; waivable
- Early Account Termination Fee: None
- Household Limit: None listed
(Limited time offer)
| BMO Smart Money Checking ($300 cash bonus) | KeyBank Checking ($300 bonus) |
| Chase Private Client ($3,000 Bonus) | HSBC Premier Checking & Savings (Up to $3,000 Cash Bonus), |
How to Earn Bonus
- Print the certificate and fill in your name and last four digits of your checking, savings, or money market account number below.
- Give this certificate to a friend and have them bring it to a branch when they open a new checking account.
- After your friend’s account has been opened and has met the requirements, we will reward you with $50.
- Existing customer must have a checking, savings, or money market account (excluding Health Account Services accounts) at First American Bank.
- New account must be opened by a new customer (customer may not have had a First American Bank checking or money market account within the last 6 months).
- New account opening subject to approval.
- To qualify for the $50 reward, the new account must have at least one ACH transaction or 10 deposits/withdrawals within one of the first two statement cycles.
- Existing customer will be paid the $50 reward on the new customer’s statement date after the checking account qualifies.
- Reward amount will be reported to the IRS as interest paid on IRS Form 1099-INT.
- Individual, joint and trust accounts only.
- Excludes First American Bank employees and members of their household.
First American Bank $50 Student Checking Bonus
Get a $50 bonus with this offer from First American Bank
This account is specially designed with young adults in mind. With a First American Student Checking account we make it easy to help you make the most of your money so you can focus on school. First American Bank is offering a $50 bonus when you open a Student Checking Account and meet certain requirements.
- What you’ll get: $50 bonus
- Account Type: Student Checking Account
- Availability: FL, IL, WI
(Limited time offer)
| BMO Smart Money Checking ($300 cash bonus) | BMO Smart Advantage Checking ($300 cash bonus) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| Truist Checking ($400 bonus) | SoFi Checking and Savings ($325 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | |
How To Earn Bonus
- To qualify for the bonus the following requirement must be met: 10 deposits/withdrawals are made within one of the first three statement cycles
- Account subject to approval.
- New checking customers only.
- Limit 1 per person.
- $50 to open account.
- $50 bonus cannot be used as opening deposit. Student Checking accounts are available for Primary Owners under the age of 23.
- Upon the Primary Owner’s 23rd birthday, the Student Checking account will automatically be converted to a Personal Checking account and will be subject to the Paper Statement Fee if electronic statements have not been elected.
- If account is closed prior to 6 months, $50 will be charged against the account.
- Terms and conditions subject to change at any time.
First American Bank $150 Checking Bonus (Expired)
Earn a $150 bonus at First American Bank!
First American Bank is offering a $150 bonus when you open an Advantage Checking Account with direct deposit and meet certain requirements.
- What you’ll get: $150 bonus
- Account Type: Advantage Checking Account
- Availability: FL, IL, WI
(Expires May 31, 2021)
| BMO Smart Money Checking ($300 cash bonus) | BMO Smart Advantage Checking ($300 cash bonus) |
| Bank of America ($300 bonus offer) | Chase Total Checking® ($300 bonus) |
| Truist Checking ($400 bonus) | SoFi Checking and Savings ($325 bonus) |
| KeyBank Key Smart Checking ($300 bonus) | |
How To Earn Bonus
- In order to earn the bonus you must open a new Advantage Checking account with direct deposit
- Account must have at least three direct deposits from a paycheck, pension, or government benefit of at least $500 each during the first three statement periods to receive a $150 cash bonus.
- Open a new Advantage Checking account at one of our branch locations between March 15, 2021 and May 31, 2021 and meet the transaction requirement.
- Transaction Requirement: Account must have at least three direct deposits from a paycheck, pension, or government benefit of at least $500 each during the first three statement periods to receive a $150 cash bonus.
- The bonus will be paid to the account on the statement date for the statement period in which the third direct deposit appears.
- One per household.
- Available to new checking account customers only.
- Not available for existing checking account customers or customers whose checking account was closed in the past 6 months.
- Limited to individual, joint, and trust accounts only. Legal entity and public funds accounts are not eligible. Bonus amount will be reported to the IRS as interest paid to you on IRS Form 1099-INT.
- If your account is closed within the first 6 months of opening, the bonus amount paid to the account will be debited from the account balance.
- This is in addition to other standard fees that apply.
- See Schedule of Fees for Consumer Accounts for additional details. First American Bank reserves the right to close any account.
(Expired) First American Bank $755 Business Checking Bonus
Get up to a $755 bonus with this offer from First American Bank
First American Bank is offering a $755 value bonus for opening a new Business Checking Account.
- What you’ll get: $775 bonus
- Account Type: Business Checking Account
- Availability: FL, IL, WI
(Offer expires 9/30/2019)
| Chase Business Checking ($300 or $500 Bonus) | Bank of America Business Checking ($200 bonus offer) |
| U.S. Bank Business Checking ( $500 or $900 Bonus) | Axos Bank Basic Business Checking ($400 Bonus) |
| Axos Bank Business Interest Checking ($400 Bonus) | Huntington Unlimited Plus Business Checking ($1,000 Bonus) |
| Huntington Unlimited Business Checking ($400 Bonus) | Bluevine Business Checking ($300 Bonus) |
| Axos Business Premium Savings ($375 Bonus) | |
How To Earn Bonus
- Open a business checking account by September 30, 2019
- Account must maintain an average daily balance of $1,000 and have at least 5 deposit/withdrawal transactions each statement cycle
- $80 will be credited to the account on the statement date for the 2nd, 3rd and 4th statement cycles.
- Account subject to approval.
- Bonus will be reported to the IRS as interest income.
- Standard fees apply, refer to the Schedule of Fees for Business Accounts. Terms and conditions subject to change at any time.
- Exclusions apply, see personal banker for complete account details.
- Free Checks: Maximum value $100.
- Remote Deposit Capture: Subject to approval.
- Merchant Services: $250 processing credit for anticipated annual processing volume over $50,000 will be applied to every new approved merchant account after 60 days from activation.
- Promotion subject to change or modification at any time.
How To Waive Monthly Fees
- Free Checking: None
- Student Checking: None
- Commercial Checking: None Listed
- Everyday Rewards Checking: $4.95 monthly fee
- Personal Checking: $3.95 monthly fee
- Fresh Start Checking: $3.95 monthly fee
- Advantage Checking: $25 monthly fee. Maintain a $25,000 minimum balance to avoid the monthly account fee
- Optimal Checking: $14.95 monthly fee. Maintain a $2,500 minimum balance to avoid the monthly account fee
- Business Checking: $5 monthly fee. Maintain a $500 minimum balance to avoid the monthly account fee.
- Premium Business Checking: $20 monthly fee. Maintain a $10,000 minimum balance to avoid the monthly account fee.
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Bottom Line
These are all the current offers from First American Bank. If you are a college student, the student account is nice because it allows your parents to make deposits or transfer money from an existing First American Bank account easily without fees. Also the requirements for the business offer are reasonable and worth a look.
Feel free to leave a comment below informing us about your experience with First American Bank. Your feedback is highly appreciated and makes our site even better!
CDs and Savings accounts are a great way to save money. Check out our full list of some of the best Bank Rates and CD Rates nationwide.
*Compare First American Bank Promotions with other bank bonuses from banks like Citi, Huntington, HSBC, Chase, TD, Discover Bank, Aspiration, Axos Bank, PNC Bank, BMO Harris, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, US Bank, and more!*
*Check back for updated First American Bank promotions, bonuses and offers.
This does not add up. How do you get to $755 if only $80 is added to your account the 2nd, 3rd, and 4th month
Pulls chex, was rejected in branch.