Note: When I initially wrote this post, the Fitness Bank Referral Bonus offer was good – a $100 bonus for the checking account with 15 debit card transactions and no minimum balance requirement, as well as a $25 bonus for the savings account with a $100 minimum balance. Unfortunately, as I was writing this (literally minutes after I published this post), the Fitness Bank Referral Bonus changed to a $50 bonus for the checking account and a required minimum balance of $5,000.
My initial thought is that the checking account bonus isn’t worth it with these new requirements (a $5,000 minimum balance on a checking account is insane). This post has been updated to reflect the new terms and my new thoughts on the bonus.
In short, I don’t think the checking account bonus is worth grabbing unless you also want to link a daily step counter with your checking account so you can earn 6% interest on your checking account. The savings account bonus is still fine, but you’ll only get $25, so is it worth your time and effort? You’ll have to decide on that.
Fitness Bank is currently offering new customers up to a $75 signup bonus after opening a Fitness Bank checking and savings account using a friend’s promotional code. Here’s what you need to do to earn your Fitness Bank referral bonus:
- Open a Fitness Bank checking and/or savings account and enter your friend’s promotional code during the signup process (if you want to support this blog, use this promotional code: BonusThomasMoore).
- For the checking account bonus, complete 15 debit card transactions within 90 days of account opening to get a $50 signup bonus. You also have to keep a minimum balance of $5,000 in the account for at least 90 days.
- For the savings account bonus, maintain a balance of at least $100 for 90 days to receive a $25 signup bonus.
- Your bonuses will post to your respective accounts within 45 days after the 90-day qualification period.
If you complete both the checking account and savings account bonus, then you’ll earn $75. Unfortunately, the checking account bonus isn’t one I think is worth doing given the high minimum balance requirement. The savings account bonus is fine, but it’s only paying $25. I might still do the savings account bonus just because its easy, but of course, $25 isn’t going to move the needle for most people.
Still, since I already wrote this post, let’s look at the directions to get this bonus.
Fitness Bank Referral Bonus – Step-By-Step Directions
Here are the step-by-step directions to earn your Fitness Bank Referral Bonus:
1. Open A Fitness Bank Checking And Savings Account Using A Promotional Code. The first thing you’ll need to do is open your checking and savings accounts with Fitness Bank. The bonuses are technically for two different accounts – a $50 bonus for the checking account and a $25 bonus for the savings account. You don’t need to open both accounts, so you could grab one bonus and skip the other if you want.
To open your account, go to the Fitness Bank Referral Program page. From there, you’ll see the option to open either the Fitness Bank Checking Account or Savings Account. It doesn’t matter which option you pick, as during the rest of the application process, you’ll be able to open both. I just clicked the checking account button for now.
The most important part is to enter the Promo Code when you apply for your account. You’ll find the Promo Code box on the first page, immediately below where you provide your name, email, date of birth, and phone number.
This is where things get a bit weird. The promotional code that you’ll need to enter is in the following format: Bonus + First Name and Last Name (with no spaces between the words). So if you want to get your bonus using my promotional code, it’s BonusThomasMoore (I’ll switch this promo code around as I max out on referrals).
Make sure the above promo code is in the promo code field or else you won’t qualify for your bonus. This is a step you cannot skip!
After this page, you’ll fill out the remainder of the application. During the application, you’ll have the option of opening both the checking and savings accounts. The page will look like this:
Make sure to click “Add Product” on both the Referral Elite Checking and the Referral Fitness Savings accounts if you want both of them.
From there, you’ll need to answer some identity questions. After getting through that, you’ll get a message saying your account is being reviewed and you’ll need to wait for final approval. I think Fitness Bank might be manually approving accounts, so it does take a bit of time to get final approval. I received my final approval a few hours after my application.
One thing to note is that I think I answered my verification questions wrong the first time I applied for my account. After answering the questions, I was met with a “Transaction Declined” screen and a message saying my account was not approved. I ended up resubmitting my application with the same information, answered the verification questions again, and then received the screen saying my account was under review. So, if you end up getting that “Transaction Declined” screen, reapply again to see if it solves the issue.
The checking account requires a minimum deposit of $100 (however, you need an insane $5,000 minimum balance to earn the bonus on the checking account). The savings account also requires a $100 minimum deposit. I entered my bank information from my primary checking account to deposit the initial balance.
2. For The $50 Checking Account Bonus, Complete 15 Debit Card Transactions Within 90 Days. To earn the $50 checking account bonus, you’ll need to complete 15 debit card transactions within 90 days of account opening. You’ll need to wait for your debit card to arrive in the mail. From there, you can easily meet this requirement in a few ways.
If you want, you can use your debit card normally to meet the 15 transactions. My preferred way to do this is to buy 15 Amazon gift cards at 50 cents each. I typically stagger these out over a few days. So I’ll buy 5 Amazon gift cards each day at 15 cents each until I hit the 15 transactions.
While the account doesn’t say Venmo transactions are prohibited, I probably wouldn’t do the 15 transactions that way since there is a chance that doesn’t qualify. It’s better to do 15 real transactions like the Amazon gift card purchases.
With all that being said, the checking account bonus isn’t worth doing in my opinion. Keeping $5,000 in the account to get $50 in 90 days isn’t a good enough rate of return – you’d do better taking that $5,000 and putting it in a savings account with Raisin earning over 5% interest.
However, the checking account does offer 6% interest if you link a FitBit, your phone, or other step-tracker with Fitness Bank and average 10,000 daily steps. You’ll also need to do 15 debit card transactions per month.
Personally, that doesn’t seem worth the hassle for me, but it does make it potentially worthwhile to sign up for the bonus.
3. For the $25 Savings Account Bonus, Maintain A $100 Minimum Balance For 90 Days. The savings account bonus is much easier than the checking account bonus. To earn this bonus, you only need to keep $100 in your savings account for at least 90 days. The bonus terms say the bonus will post within 45 days after the 90-day qualification period. My recommendation is to leave the $100 balance in your savings account until the bonus posts. That way, you’ll avoid any potential issues with withdrawing your money too early.
4. Your Bonus Will Post Within 45 Days Of The 90-Day Qualification Period. The terms state that your bonus will post in each respective account within 45 days after the 90-day qualification period. It’s too early for me to know yet, but under the terms, I expect my bonuses to post in my checking and savings accounts sometime after I’ve had my accounts open for 90 days. I’ll update this section whenever I do see my bonuses.
Important Things To Know About Fitness Bank – Avoiding Fees, When To Close Your Accounts, And More
There are a few things you should know when you do this bonus.
First, Fitness Bank has a monthly fee that is waived with a minimum balance of $10. The terms require you to keep enough money in your account to avoid the monthly fees, so this wouldn’t be an issue for anyone.
Second, there doesn’t seem to be a requirement to keep the account open for a specific amount of time, so you can theoretically close your account after you receive your bonus. If you can, I recommend keeping the account open for a month or two longer, just so it doesn’t make it super obvious that you’re only opening the account for the bonus.
Finally, this bonus is only available to people who don’t currently have a Fitness Bank account and haven’t received a bonus from them in the past 12 months. The 12-month limitation is interesting as it means you could get this bonus again in the future if they offer it again.
Pro-Tip: Refer Your Friends And Earn More Fitness Bank Referral Bonuses
It is possible to make this bonus better because you can refer people using your own promotional code. Your promotional code will be in the following format: Bonus + First Name + Last Name (no spaces between words). This promotional code is weird because I don’t understand how they track if people have the same name. My recommendation is to make sure whoever you refer has your information and that you know they used your promotional code. That way, if you have issues, you’ll be able to reach out to Fitness Bank.
Referrals are limited to $1,000 per calendar year. I’m not sure if this limit also includes the referral bonus you get for opening an account and meeting the bonus requirements.
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More Recommended Ebike/Scooters
Check out these other ebikes and scooters I've reviewed:
- Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
- Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
- Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
- Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
- Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
- KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
- Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
- Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
- Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
- Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
- Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
- Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
- Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
- GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
- US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
- Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
Hey there, I hope all is well. It looks like they have changed the bonus amount and the balance amount needed?
Wow, they changed the terms literally minutes after I published the post. Bummer. I’ve updated the post to reflect this new information. Probably not worth doing for most, but it looks like it is possible to get 6% interest with some weird step tracker thing.