Gate City Bank $100 Amazon Gift Card: A Quick Win for a Small Deposit

If you're looking for a low-effort way to pad your wallet, this Gate City Bank offer might be right up your alley. They're giving away $100 Amazon gift cards to new customers who open a checking account and make a modest deposit. No direct deposit, no complicated hoops to jump through—just a simple bonus for trying out a new bank. Let's break down what you need to know.

What's the Catch? (Spoiler: Not Much)

The main requirement is that you open a new personal checking account with Gate City Bank and deposit at least $50. That's it. You don't need to set up direct deposit, which is a huge plus. Just keep the account open and in the positive until the gift card is sent out.

There are a few eligibility rules to keep in mind. You need to be a first-time Gate City Bank checking customer, at least 10 years old, and have a permanent mailing address outside of North Dakota and Minnesota. Also, this offer can't be combined with any other promotions.

Why This Offer Stands Out

Most bank bonuses require a direct deposit or a minimum balance that's much higher. Here, you're only putting in $50 to get a $100 gift card—that's a 200% return on your money. And since there are no monthly fees, you don't have to worry about the account eating away at your balance.

Another nice touch is that the gift card is delivered via email, so you don't have to wait for snail mail. Just keep an eye on your inbox around the end of September.

Things to Watch Out For

While the offer seems straightforward, there are a couple of things to keep in mind. First, the early account termination fee is unknown, so if you close the account too soon, you might get hit with a charge. The bank hasn't published a fee schedule, so it's a bit of a gamble.

Second, remember that the bonus is taxable. The IRS considers bank bonuses as interest income, so you'll need to report it on your taxes. It's not a huge deal, but it's something to be aware of.

Lastly, there's no word on whether the account opening involves a hard or soft credit pull. If you're worried about your credit score, you might want to call the bank and ask before applying.

Is It Worth Your Time?

For a $50 deposit and a few minutes of your time, getting a $100 Amazon gift card is a solid deal. Even if you're not in the market for a new bank, you can always close the account after the bonus posts (just be mindful of any potential fees).

If you have friends or family who might be interested, you can also refer them and earn an additional $100 gift card for each referral. That's a nice way to stack the rewards.

Bottom Line

• Open a new Gate City Bank checking account with a $50 deposit by September 19, 2022.
• No direct deposit required—just keep the account open and positive until the gift card is emailed.
• Bonus is subject to taxes, and there may be an early termination fee if you close the account too soon.

Common Questions