[PA, NJ Only] Penn Community Bank $400 Checking Bonus, Direct Deposit Not Required

Update 7/25/25: Deal is back, this time $400 for checking and savings not required. Valid until 9/13/25. Hat tip to Kevin F.

Update 7/17/25: Deal is back, this time $350 + $50. Hat tip to Daniyo

Update 5/16/25: Deal is back, this time for $300 + $50 (previously was $350 + $50). Valid until June 28, 2025 Hat tip to Tikky

extended till May 17th

Update 3/4/25: Bonus is back and now $350 + $50 (was $300 + $50). Hat tip to reader GC

Update 2/1/25: Deal is back and valid until February 22, 2025. Hat tip to Alexi

Update 9/14/24: Deal is back and valid until 12/31/24. Now $300 + $50 instead of $350 + $50

Update 3/15/23: Extended until April 22, 2023. Hat tip to RXSAMG

Offer at a glance

• Maximum bonus amount: $400
• Availability: PA, NJ (specific zip codes only)
• Direct deposit required: Optional
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Yes
• Credit card funding: Up to $500 per account, Mastercard & Discover accepted
• Monthly fees: None
• Early account termination fee: Six months, bonus forfeit
• Household limit: None listed
• Expiration date: December 3, 2022

The Offer

Direct link to offer

• Penn Community Bank is offering bonuses of up to $400. Bonuses are broken down as follows:
  • $350 cash bonus for opening a qualifying new checking account and completing one of the following within the first 60 days of account opening:
    • Receive direct deposits totaling $1,500 or more OR
    • Complete 20 or more debit card purchases that post to your checking account.
  • Earn an additional $50 cash bonus for opening a Statement Savings account at the same time as the checking and maintaining the Statement Savings account minimum daily balance or more for 60 days from opening

The Fine Print

• New account bonus(es) will be deposited to the checking account within 45 days after meeting offer requirements. Offer available to new checking customers only.
• Must not have closed a Penn Community Bank checking account within the preceding twelve (12) months or received a prior new checking account incentive.
• Limit one bonus offer per household.
• If multiple accounts are opened with the same signer, only one account will be eligible for the bonus.
• Account must be open, active and in good standing at time of incentive fulfillment to receive bonus(es).
• If account is closed within six (6) months from date of opening, early termination fee may apply, and amount of new account bonus received will be debited from final account balance. All bonuses are subject to IRS 1099 tax reporting.
• Offer expires December 3, 2022
• The up to $400 new account cash bonus offer (“offer”) is available on any new Penn Community Bank personal checking account type. S
• tandard account eligibility requirements apply, and the program promotional code must be presented at opening.
• To receive the $350 new checking cash bonus the account must be opened with $25 or more and complete one of the following within the first sixty (60) days of account opening: a) receive qualifying direct deposits totaling $1,000 or more to the checking account OR b) complete 20 or more debit card purchase transactions that post to the checking account. Qualifying direct deposits are defined as recurring electronic deposits of payroll, Social Security, pension, government benefits or other eligible regular monthly income.
• To earn an additional $50 cash bonus, checking bonus offer requirements must also be met, and you must 1) open a new Statement Savings account at the same time as the qualifying checking account with standard account minimum opening deposit of $25 or more, and 2) maintain in the Statement Savings account for the first 60 days from account opening the minimum daily balance to avoid a monthly service fee and earn interest, which is $100.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

There is a free checking account with no monthly fees to worry about.

Early Account Termination Fee

Bonus is forfeit if account is closed within six months of account opening.

Our Verdict

Much better than the previous $200 bonus that required opening in branch. We still don’t know if it’s a hard or soft pull, but it should be worth doing even if it turns out to be a hard pull. We will add this to our list of the best bank account bonuses.

Hat tip to reader Mark E

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull 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
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times