First National Bank, also known as FNB, offers several promising promotions for new checking and savings accounts in 2023. With over 300 branches across several states, First National Bank provides convenient banking solutions for personal and business customers.
By taking advantage of their latest account opening bonuses, you can earn up to $500 in free money!
Below we’ll explain who is eligible, how to qualify, and the fine print details for FNB’s current promotions.
Overview of First National Bank Promotions
Here is a quick summary of the offers available:
- Up to $500 when you open a new Premier Checking account
- Up to $400 for opening an FNB Loyalty Checking account
- Up to $300 for a new Personal Savings, Money Market, or Certificate of Deposit
- Up to $750 for Business Checking accounts
The exact amount depends on your account balances and setup. Keep reading for more details on how to maximize each bonus.
Who is Eligible for First National Bank Promotions?
To qualify for the offers, you must be a new customer without an existing FNB personal checking or savings account. Anyone who has closed an account within the past 6 months does not count as a new customer.
The bonuses are available online nationally, but physical branches are located in:
- West Virginia
- South Carolina
- North Carolina
- Washington DC
You must be a resident of one of the above states to open an account in the branch. For online accounts, you can live anywhere in the country.
The checking and savings promotions are for personal accounts only. Separate bonuses up to $750 are offered for business checking.
How to Earn Up to $500 with First National Bank
Premier Checking: Up to $500 Bonus
The Premier Checking account is FNB’s flagship product that offers several benefits for a $25 monthly fee. You can waive this fee by maintaining a $5,000 minimum balance or $25,000 combined deposit balance.
To qualify for the $500 bonus, simply open a new Premier Checking account online or in-branch by August 31, 2023.
Then complete the following within 60 days of account opening:
- Make $5,000 in cumulative direct deposits
- Complete 10 debit card purchases
- Maintain a $5,000 minimum daily balance
Meeting the above requirements will earn you a $500 cash bonus. Note that the $5,000 in direct deposits can’t be transferred from existing FNB accounts.
If you can meet the debit card transactions and maintain $2,500 balance (instead of $5,000), you’ll get a $250 bonus.
You must keep your new Premier Checking account open for 180 days to receive the full bonus payout. Closing it early results in forfeiture of the promotional money.
Loyalty Checking: Up to $400 Bonus
The Loyalty Checking account has a much lower $3 monthly fee and no minimum balance requirement. It still comes with several benefits like free ATM access and online banking features.
To earn up to $400, simply open a new Loyalty Checking account online by August 31, 2023 and complete the following:
- Make $1,000 in cumulative direct deposits within 60 days
- Complete 10 debit card purchases within 60 days
- Maintain a $1,000 minimum daily balance for 60 days
This will qualify you for the full $400 bonus payout. You can earn a $200 bonus by meeting just the direct deposit and debit card transaction requirements.
As with the Premier offer, you’ll need to keep your new account open for 180 days to earn the bonus. Transfers from existing FNB accounts do not count as qualifying direct deposits.
Personal Savings, Money Market, and CD Bonuses
FNB is also offering bonuses up to $300 when you open a new personal savings, money market, or certificate of deposit (CD) account.
For savings accounts, you can earn:
- $100 for depositing $10,000+ in new money within 60 days
- $150 for depositing $25,000+ in new money within 60 days
With a new money market account, the bonuses are:
- $150 for depositing $10,000+ in new money within 60 days
- $300 for depositing $25,000+ in new money within 60 days
For 1-year CD accounts, you’ll earn:
- $100 for depositing $5,000+ in new money
- $200 for depositing $10,000+ in new money
The CD bonuses do not have a timeframe you need to meet. However, you must keep the CD open for at least 6 months or you’ll forfeit the bonus.
As with the checking offers, you can’t transfer funds from existing First National Bank accounts to qualify for these savings and CD bonuses.
Up to $750 for Business Checking
If you’re opening a new business checking account, FNB has bonuses up to $750 available.
The offers depend on the specific account packages:
- Up to $750 for Performance Checking
- Up to $500 for Unlimited Checking
- Up to $300 for Essential Checking
The requirements are similar to the personal checking bonuses. You’ll need to make a certain amount in direct deposits and debit card transactions within 60 days of opening your account.
Business owners can visit their business checking promotions page for specific details based on account type and location.
Limitations and Fine Print To Know
While FNB’s offers are very solid, there are some important fine print details to keep in mind:
- The checking and savings bonuses we mentioned are available online and in-branch until August 31, 2023. CD bonuses do not have a deadline.
- You must be a new customer without any existing FNB accounts. Anyone who closed an account within the past 6 months does not qualify.
- Business owners are eligible for separate checking bonuses up to $750.
- Bonuses are reported as taxable income on Form 1099-INT.
- Transfers from existing First National Bank accounts do not count as qualifying new money or direct deposits.
- To earn the full bonus, you must keep your new checking account open for 180 days. Savings accounts and CDs have different requirements.
- FNB reserves the right to disqualify anyone from promotions for any reason.
- Offers are subject to change at any time. The current promotions are valid as of August 2023.
Be sure to read all of the latest terms and conditions for details that might have changed.
Step-by-Step Guide to Opening an Account and Getting the Bonus
Here is a step-by-step walkthrough for ensuring you earn the new account bonuses:
Step 1: Choose Which Account(s) You Want to Open
Decide if you want to open just a checking account, savings, or both to maximize your bonuses.
The Premier Checking has the highest $500 bonus potential. But the Loyalty Checking offer is also solid at $400 if you don’t need the higher-end benefits.
If you have significant funds, combining a new checking account with a savings, money market, or CD can increase your total bonuses.
Step 2: Begin Your Online Account Application
You can open your new First National Bank account(s) conveniently online. This makes it accessible to anyone nationally.
Visit their website and click on “Open Account” to begin a new application. Make sure to have your SSN, employment details, ID info, and address ready.
The online process is quick and they have an Online Banking specialist available if you need assistance.
Step 3: Fund Your New Account(s)
To earn the bonuses, you’ll need to fund your new accounts within 60 days (except CDs). FNB requires “new money” that isn’t transferred from existing accounts with them.
You can fund your accounts by:
- ACH Transfer from an external bank account
- Wire transfer from an external account
- Mobile check deposit using their app
- Direct deposit from an employer, government benefits, etc.
Aim to fund the minimum amount needed to earn the highest bonus tier for your particular offer. You can always deposit more later.
Step 4: Complete the Remaining Bonus Requirements
In addition to account funding requirements, FNB’s offers require a certain number of debit card purchases.
Make sure to use your new FNB debit card for all your normal spending until you meet the minimum transaction requirements.
You’ll also need to maintain the minimum balance for the appropriate time period stated in the offer terms. FNB makes this easy to track through online banking.
Step 5: Get Your Bonus and Enjoy Your New Account
FNB states they will deposit the bonus to your new account within 5 business days once all requirements are met.
You need to keep the account open for 180 days from account opening to prevent bonus forfeiture. After earning your free money, enjoy using your new FNB checking, savings, CD, or money market account!
Reasons to Bank with First National Bank
Aside from their lucrative promotions, here are some benefits of banking with First National Bank:
Wide Branch Network Across Several States
FNB has over 300 branches and 500 ATMs located throughout Pennsylvania, Ohio, Maryland, West Virginia, South Carolina, North Carolina, and Washington DC.
Their wide reach makes it convenient for in-person banking and accessing ATMs. You can deposit or withdraw cash and make check deposits at any location.
In addition, they refund all ATM fees nationwide when you use other banks’ machines. This provides maximum surcharge-free access.
Advanced Online and Mobile Banking
FNB offers a full-featured online banking platform accessible on desktop or mobile devices. It makes managing your accounts easy.
You can handle tasks like:
- Monitor balances and transactions
- Transfer money between accounts
- Pay bills and manage payments
- Deposit checks with mobile deposit
- Set up account alerts
- Manage debit cards
The mobile app has robust 4.7/5 star ratings on the App Store and Google Play.
Zelle® For Easy Peer-to-Peer Payments
FNB offers Zelle integrated directly into online banking and their mobile app.
You can send and receive money instantly with other Zelle users. Pay your rent, split bills with roommates, reimburse friends, and more.
Zelle is available with any FNB checking or money market account. There are no fees to send money and funds are usually available to recipients within minutes.
24/7 Live Customer Service
FNB provides customer service 24/7 for assistance with your accounts. You can call them anytime or utilize online chat support.
Having knowledgeable experts available around the clock is extremely helpful if you ever have questions or account issues.
Their customer service teams earn high marks for being friendly and resolving problems quickly.
Top Safety and Security
First National Bank uses advanced security measures to keep your information and money safe.
Their online and mobile banking utilizes multi-factor authentication, data encryption, and other protection against fraud and unauthorized access.
FNB also offers security alerts to notify you of suspicious activity and provides $0 fraud liability if your accounts are compromised by a cyber-criminal. You won’t be held responsible for fraudulent transactions if you report them promptly.
Furthermore, your accounts are FDIC-insured for up to $250,000 per depositor. This protects your funds even in the unlikely event that FNB fails.
First National Bank Overview
Here is some helpful background information on First National Bank:
History and Overview
FNB has been in operation since 1864 originally starting out in Pittsburgh, PA. They have grown to be one of the largest full-service retail and commercial financial services companies in the country.
Today they provide banking, lending, treasury management, wealth management, and other financial solutions.
Key facts about First National Bank include:
- Founded in 1864
- Headquartered in Pittsburgh, PA
- $41 billion in assets
- Serves over 5 million consumer, business, and institutional clients
- Employs over 5,500 people
- 300+ branches across 7 states
- Offers retail banking, lending, treasury, wealth management, and more
Overall, FNB has a longstanding history combined with modern banking solutions for personal and business customers alike.
First National Bank maintains strong financial standing, stability, and security. This gives customers peace of mind knowing their money is safe.
As of 2022, FNB reported:
- $41 billion in total assets
- $27 billion in total deposits
- $30 billion in total loans
- $4 billion in total revenue
- $1.2 billion in net income
In addition, FNB has an “A” rating from the Kroll Bond Rating Agency. This indicates low credit risk and that they have a high capability of repaying obligations.
FNB’s financial strength and profitability enable them to reliably offer banking services and provide account security for customers.
Alternate Ways to Earn Rewards With First National Bank
Aside from sign-up bonuses when you open accounts, First National Bank offers a couple of additional ways to earn rewards:
Premier Rewards Checking
The Premier Rewards Checking is another flagship account from FNB with more benefits than the regular Premier Checking.
With Premier Rewards, you’ll earn:
- 1.25% cash back on debit card purchases
- 1.25 points per $1 on debit card purchases
- 3 points per $1 on direct mobile deposits
These rewards can be redeemed for cash back, gift cards, travel, and more. There are no limits on how much you can earn.
You need to maintain a $15,000 combined deposit balance or $50,000 in total FNB loan balances to qualify for the account’s rewards program and other benefits.
Learn more about FNB’s Premier Rewards Checking here.
Kasasa Cash Back Checking
The Kasasa Cash Back checking account is another option that lets you earn rewards on your spending.
You’ll get 1.5% cash back on up to $300 in debit card purchases each month when you meet minimum account requirements. This can be redeemed for cash.
To qualify each month, you need to:
- Have 12 debit card transactions post and settle
- Receive monthly eStatements
- Be enrolled in online banking
The account also comes with reimbursements for ATM fees, online banking tools, and more benefits. There’s no monthly fee.
Learn more about FNB’s Kasasa Cash Back Checking here.
Downsides and Alternatives
While First National Bank has some excellent offers and accounts, here are a couple of potential downsides to consider:
- Limited to 7 states for in-person banking
- Monthly fees on some accounts if minimum balances are not met
- Penalty for closing accounts early and forfeiting bonuses
- Interest rates on savings and CDs may be slightly lower than others
If you don’t live near a branch, require no monthly fees, or want higher interest rates, here are some alternative banks to consider:
- Chime Bank – No fees, up to 1% APY on savings
- Ally Bank – Top rates on savings and CDs
- Capital One – Solid rewards checking and savings options
- Axos Bank – Rewards checking with reimbursements for fees
- Discover Bank – Great savings rates and cashback debit
- Marcus by Goldman Sachs – Competitive savings and CD rates
However, the sign-up bonuses with First National Bank make them worth considering if you can meet the requirements. Just make sure to read the fine print!
Who Should & Shouldn’t Open an Account with FNB
First National Bank offers solid banking options both online and in physical branches. Here is a quick rundown of who should and shouldn’t open accounts with them:
Who Should Consider FNB
- New customers in eligible states who want to earn sign-up bonuses
- People who value convenient branch and ATM access in FNB’s markets
- Customers who make frequent debit card purchases
- Those who maintain higher balances and can waive fees
- People wanting advanced online/mobile banking features
Who Might Want Other Options
- People outside FNB’s 7-state footprint
- Those wanting no monthly fees on checking
- Customers who won’t use debit cards much or maintain minimum balances
- People needing higher interest rates on savings/CDs
- Investors wanting extensive investment or wealth management services
Make sure to consider FNB’s pros, cons, and alternatives to determine if their promotions and accounts are a fit for your banking needs!
Steps to Closing an Account and Penalties
If you take advantage of First National Bank’s bonuses, you’ll need to keep your new accounts open for at least 180 days as stated in the terms.
Closing checking accounts early results in forfeiting your bonus. Savings accounts and CDs have other requirements.
When it does come time to close your FNB account, follow these steps:
- Withdraw any remaining funds and transfer to another bank. Make sure the account balance is $0.
- Call FNB at 1-800-555-5455 to notify them you want to close your account.
- Cut up any debit cards and unused checks associated with the account you are closing.
- Submit a written letter of instruction if needed. They may have you fill out a form to authorize account closure.
- Receive confirmation from FNB that your account is officially closed.
Double check for any pending charges that may post after closure and be sure to redirect any recurring payments, direct deposits, etc to your new bank.
As long as you wait the required timeframe, there are no direct fees or penalties for closing a First National Bank checking, savings, or CD account. However, you will forfeit any unearned bonuses if you close prematurely.
Some additional things to keep in mind when closing FNB accounts:
- For checking accounts, destroy any unused checks and alert any merchants you have automatic payments set up with. You may need to provide updated payment details.
- For savings accounts and CDs, the account will simply close once the balance reaches $0. However, withdrawing funds early from a CD results in a loss of accrued interest.
- Be sure to cancel any online banking access and remove your accounts from linked services like Zelle.
- Request a final account statement to have for your records. This will show your account was closed with no remaining balance.
- If you have a safe deposit box with FNB, empty it and return it prior to closure. You may need to provide written notice in advance.
- Accounts closed within 180 days of opening may be reported to ChexSystems, which could make opening an account elsewhere more difficult.
- Let FNB know where to send your final interest payment and any tax documents like 1099-INT forms.
Following the proper account closure procedures is important to transition smoothly, avoid fees, and prevent issues down the line. FNB makes the process straightforward as long as you meet bonus requirements and withdraw all of your money.
Overall, First National Bank’s checking and savings offers provide a lucrative opportunity to earn up to $500 when you open new accounts. Just be sure to read all of the fine print details and meet the bonus qualifications.
Their accounts also come with convenient banking features through extensive branch and ATM networks, advanced online/mobile capabilities, and top-notch customer service. First National Bank is a stable institution worth considering if you live within its market footprint.