Metcalf Bank is offering a $100 cash bonus for opening up a checking account. The bank is offering the promotion through Aug. 31, 2011. Open a MyChoice checking account and get $50. Open a SaveUp savings account at the same time and get another $50. And when you set up a monthly automatic transfer between the two accounts the bank will double the interest.

The checking account offers free mobile banking and refunds of other banks’ ATM fees. It also offers six months of free identity protection and a free CheckPlus Debit MasterCard. You’ll also receive free estatements, email and text alerts. The $3 monthly fee on the account is waived for meeting certain requirements during each monthly statement cycle.

Other details of the bank’s offer include:

• Minimum balance of $250 to receive the incentive for the SaveUp Savings
• SaveUp Savings has a 0.5 percent annual percentage yield (APY)
• Savings rate falls to 0.25 percent if automatic transfer requirement is not met
• Savings rate is subject to change after opening account
• Fees may reduce earnings
• Fee may be imposed for closing account within first 120 days

Metcalf Bank is based in Lee’s Summit, Mo., and is a leading financial service provider in the state.

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