Here’s some more free money for all of you out there in Austin who do the bank account deals. PlainsCapital Bank is offering a $150 bonus for opening a free checking account. Just open the account with a minimum of $50 using the offer code FCAU1109 by February 19 and you’ll get $50, and when you have your direct deposit made to the account you’ll get another $100 for a total of $150. You could previously apply online, but they have since restricted the offer to Austin residents and it must be opened in person in one of their Austin branches. The terms of the offer say that you have to keep the account open for 90 days to avoid a fee, although the disclosure documents in the application process say 180 days, so plan on having the account open at least 6 months.

$150 PlainsCapital Bank Free Checking Offer

Here’s the details:

To qualify for the $50 bonus, you must open a new PlainsCapital Bank Free Checking Account by Feb. 19, 2010, with a minimum deposit of $50 in new funds (e.g., money not currently held at PlainsCapital Bank). The $50 bonus will be automatically deposited into your new account within 10 business days. To qualify for the $100 bonus, you must set up direct deposit into the new account within 60 days of account opening. Once direct deposit is set up and a deposit is made, the $100 bonus will be automatically deposited into your new account within 10 business days.  Bonuses cannot be considered the minimum opening deposit. Limit one offer per customer. Checking account to remain open for 90 days or the account could be subject to an early closing fee. Account is subject to approval. Bonus is considered interest and must be reported on IRS Form 1099-INT.

UPDATE 1/14/2010 3:05pm: It looks like they have completely taken down the offer from their website. You may want to call to see if they will still honor this offer in-branch before making the drive over to one of their locations.