First South Financial $1,000 Business Savings Bonus (6.6% Effective APY) - 2026 Review
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Bonus Tiers & Effective APY
Overview
First South Financial is currently offering a $1,000 business checking bonus. The qualifying activity is holding a $50,000 minimum daily balance for 3 statement cycles plus 20 qualifying transactions. This is an in-branch-only offer at Memphis, Tennessee and Southaven, Mississippi locations.
Who This Savings Bonus Is Best For
Business owners near a First South Financial branch who can park $50,000 for roughly three months and generate 20 ordinary account transactions without needing a direct deposit.
How to Maximize This Bonus
Visit a First South Financial branch (Memphis-area Tennessee or Southaven, Mississippi) and open a new Business Checking account with a $50,000 deposit. Maintain at least $50,000 in the account every day for your first 3 full statement cycles, and run 20 qualifying transactions (deposits, cleared checks, ACH deposits or payments, or debit card purchases) in that same window. The $1,000 bonus posts about 10 business days after your third statement cycle closes.
Pros
Cons
How This Compares to Other Bonuses
First South Financial's $1,000 business offer is a large-balance, no-direct-deposit business bonus, closest in shape to PNC's Treasury Enterprise Plan $1,000 offer. Compare the balance requirement, transaction count, branch-access requirement, and hold length, not only the advertised amount.
Frequently Asked Questions
What is the current First South Financial business checking bonus?
First South Financial currently advertises $1,000. The requirement is a $50,000 minimum daily balance for 3 statement cycles plus 20 qualifying transactions in that same window.
Does the First South Financial bonus require direct deposit?
No. Doctor of Credit's own summary of the offer states direct deposit is not required; deposits, cleared checks, ACH payments, or debit card purchases all satisfy the 20-transaction requirement.
Can I open this account online?
No. This is an in-branch-only offer, available at First South Financial's Memphis, Tennessee area and Southaven, Mississippi branches.
When should the First South Financial bonus post?
The credit union's own terms say the bonus is credited within 10 business days after your third statement cycle's qualification period ends.
Eligibility
This is an in-branch-only offer with no online enrollment; you must open the account at a First South Financial branch. Branches serve the Memphis, Tennessee metro area (Memphis, Cordova, Bartlett, Millington, and others) and Southaven, Mississippi (firstsouth.com/about/location-and-hours). Business checking only, and it is not available if you already have an FSF business checking account. New business memberships and accounts are subject to approval, and not all applicants will qualify. No expiration date is listed on the offer page.
Fees
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Fat Stacks Academy may earn a commission when you open an account through links on this page, at no additional cost to you. Commissions do not influence our reviews — we verify offer terms directly with each bank before publishing and do not accept paid placement in our rankings. Bonus offers, requirements, and fees are determined by each financial institution and may change at any time. Always verify the current terms directly with the bank before applying. This content is for informational purposes only and does not constitute financial advice.