There’s been a proliferation of fintech companies looking to bundle banking, brokerage, and cryptocurrency services all in one app.
The latest of these is Fierce Finance.
Fierce Finance offers a Fierce Cash account that is an FDIC insured account that earns 5.25% APY. Banking services are provided by Cross River Bank (FDIC #58410) so it’s FDIC insured. The account also offers a deposit bonus, which we will detail below.
They also offer a Fierce Stock portion of the app that operates like a brokerage – letting you invest in stocks, ETFs, and crypto. Stocks are SIPC-insured via FIN2 (CRD#: 316863/SEC#: 8-70818).
The only limitation is that the account is accessible via iOS app only.
If you’re interested in getting a cash bonus for opening an account, here are the details:
Table of Contents
Fierce Finance Bonus — up to $500
Fierce Finance has a new deposit bonus that is only based on how much you deposit. Open a Fierce Cash account and transfer funds into the account within 30 days, the bonus is based on this cumulative amount:
| Deposit Amount | Deposit Bonus |
|---|---|
| $1,000 – $9,999.99 | $25 |
| $10,000 – $29,999.99 | $100 |
| $30,000 – $99,999.99 | $200 |
| $100,000+ | $500 |
The bonus terms are straightforward. The cumulative value must remain in your account for a minimum of 180 days – that’s it. Your bonus will be credited to your Fierce Cash account at the end of the following month.
Then, your account must be kept open for 210 days from time of qualifying.
Before you balk at the long timeline (and it is a bit long), your Fierce Cash earns interest too – a very competitive 5.25% APY!
How does bank bonus compare?
This offer isn’t that great.
The bonus amount has a decently high ceiling of $500 when you deposit at least $100,000 but that’s only half a percent of a bonus.
By comparison, if you had $100,000 and were to put it into Citi, you’d get $1,000 – or twice as much.
The difference is that Citi’s account pays only a little bit of interest (less than half a percent the last time I checked) and Fierce currently pays 5.25% APY. Over the course of six months, that can make a huge difference. Neither offer requires a direct deposit, so it’s a wash there.
If you have a direct deposit, there are better offers out there:
U.S. Bank – up to $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 31, 2024. Member FDIC.
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
BMO Checking – $300
BMO is offering a $300 bonus* when you open a BMO Checking account and have $4,000 in direct deposits within 90 days of opening. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $300 Bonus Offer
Bank of America offers a $300 Bonus Offer cash bonus if you open a new account and Set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
