[Auburn, NY branch only] Lyons National Bank $175 Checking Bonus

Offer at a glance

• Maximum bonus amount: $175
• Availability: 63 Genesee Street Suite 3 Auburn, NY 13021
• Direct deposit required: Yes, no minimum mentioned but must be full net payroll
• Additional requirements: None
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None mentioned
• Expiration date: None listed

The Offer

Direct link to offer

• Open a new checking account at Lyons National Bank’s new Auburn branch and receive a bonus of $175 when you complete the following requirements:
  • Set up direct deposits (must be full net payroll, social security, pension or government benefits)

The Fine Print

• Offer is available to new LNB checking account customers.
• Receive $175 when you open a personal checking account with direct deposit during the promotion at our downtown Auburn office ONLY. Direct deposit transactions are limited to full net payroll, Social Security, pension or government benefits. Cash will be credited to the checking account within 30 days after qualification is met as long as the account is in good standing.
• Offer is subject to change without notice.
• Gift is reportable for tax purposes. Primary account holder will receive a Form 1099-INT.

Avoiding Fees

They have a few different checking accounts with no monthly fees to worry about. I wasn’t able to find a fee schedule so unsure if there is any early account termination fee but not sure it should really matter considering the no monthly fee to worry about.

Our Verdict

Really need to know more about this bank and if it’s a soft pull before passing judgement. Not a fan of the verbiage talking about a full payroll needed as sometimes this means they actually manually check this, but we have no way of knowing. 2.5% APY rate is OK for no requirements but we have no idea how long that will last and there are higher yield savings accounts out there.

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