This offer has now expired, but they have a new bonus you can view here.
Offer at a glance
- Maximum bonus amount: $150
- Availability: OH, PA, also must live within 100 miles of a branch. [Branch locator here]
- Direct deposit required: Yes, $1,000+
- Additional requirements: Keep account open for one year and make $50 in debit card purchases
- Hard/soft pull: Unknown
- Credit card funding: None
- Monthly fees: $5, waivable
- Early account termination fee: Need to keep account open for one year to get full bonus, but $25/180 EATF otherwise.
- Expiration date: February 29th, 2016
The Offer
- Open an Every Day Checking account with Dollar Bank and receive a $150 sign up bonus, bonus is broken down as follows:
- Receive rebates of up to $50 on Debit signature based purchases (purchases must be made within three months of account opening)
- Receive cumulative direct deposits of at least $1,000 within three months of account opening and receive $50
- Receive an additional $50 when your account has been open for one year
The Fine Print
- Direct deposit bonus will post within 45 days of the requirements being met
- Anniversary bonus will post within 2 months of your one year anniversary
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The Every Day checking account has a $5 monthly fee, it’s waived if either of the following conditions is met:
- Six transactions post to the account
- You have an average checking balance of $2,500 or more
Our Verdict
Bit annoying to get the full bonus because you’ll need to keep the account fee free for about 14-15 months to get the full bonus. If you put $2,500 into a 1% account you’d be losing out on ~$31.25 in interest ($156.25 if in a 5% account), you might be better just purchasing 6 amazon gift cards for $0.50 every month.
Still if it’s a soft pull then the bonus is probably worth doing if you’ve completed the better bonuses available and you live in the target area.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
