Posted by William Charles on February 23, 2016
Bank Account Bonuses

Published on February 23rd, 2016 | by William Charles

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[Expired][OH, PA only] Dollar Bank $150 Checking Bonus

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

Direct link to 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

dollar bank

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:



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Matt
Matt

Hi, thanks for sharing this. I just opened one. The funding options are “Other Checking Account, Other Savings Account, or Mail a Check” with a minimum of $50.

Matt
Matt

Found out my account can’t be opened – need to be within 100 miles of a branch.

daxihe
daxihe

Is this stackable with the referral bonus https://pages.mail.dollarbank.com/raf-home/ ?

daxihe
daxihe

ChexSystems only.

You can use a referral when you open the account, but you won’t earn referral bonus as a referree if you take this $150 bonus. Your referrer can still earn his referral bonus.

ACH debits are included in six payments so you can probably schedule another bank to pull one cent at a time, six times each month.

SSN required even in branch.

daxihe
daxihe

Early termination fee $25, within 180 days.

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[…] if you’ve completed the better bonuses available and you live in the target area. They also offered basically the same $150 bonus previously, so looks to be an on going […]

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