Posted by William Charles on March 13, 2018
Bank Account Bonuses

Published on March 13th, 2018 | by William Charles

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[Expired] [AZ, FL, NJ, NY, and OH] NYCB Family Of Banks $250 Checking Bonus

This offer has expired and is no longer being offered, click here for a list of the best checking bonuses.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: In branch only, they have branches in AZ, FL, NJ, NY, and OH [Branch locator]
  • Direct deposit required: Yes, totaling $500 or more for two consecutive months for personal bonus
  • Additional requirements: See below
  • Hard/soft pull: Soft pull 
  • ChexSystems: Unknown
  • Credit card funding: Unknown 
  • Monthly fees: $6, avoidable
  • Early account termination fee: $30, 180 days
  • Household limit: None listed
  • Expiration date: May 31st, 2018

The Offer

Direct link to offer

  • The NYCB Family of Banks are offering a bonus of up to $250 when you open a new My Community Interest Checking Account. Bonus is broken down as follows:
    • Initially deposit $100 or more
    • Deposit and maintain an average daily balance of $10,000 or more for 90 consecutive days (must deposit within 10 days of account opening)
    • Complete 10 debit card point of sale transactions of $10 or more within 90 days of account opening
    • Set up $500 or more in qualifying direct deposits each month for two consecutive months within 90 days of account opening
  • You can also get a $250 bonus for opening a business solutions checking account and complete the following requirements:
    • Deposit and maintain an average daily balance of $25,000 or more for 90 consecutive days  (must deposit within 10 days of account opening)
    • Complete 10 debit card point of sale transactions of $10 or more within 90 days of account opening

The Fine Print

Personal offer:

  • For consumers only.
  • Offer available 3/1/2018–5/31/2018.
  • To qualify for the $250 bonus you must open a new My Community Interest Checking account with $100 not currently on deposit with the Bank, and complete the following activities:
    • 1) Within 10 calendar days after account opening, deposit a total of $10,000 or more not currently on deposit with the bank, and maintain an average daily balance of $10,000 for 90 consecutive calendar days from the date of deposit.
    • 2) Within 90 calendar days after account opening, 10 debit card point of sale (POS) transactions of $10 or more must post to the account. If the POS transaction is considered a debit, a fee may be incurred. Please refer to the Schedule of Fees received at account opening.
    • 3) Within 90 calendar days after account opening, qualifying direct deposits totaling $500 or more must post to the account each month for two consecutive calendar months. A qualifying direct deposit is a recurring electronic deposit of a paycheck, pension, Social Security or other governmental benefit.
  • Once all requirements are met, the bonus will be credited to your account within 10 business days, and may be reportable as income to the Internal Revenue Service (IRS).
  • Account must remain open, in good standing, and in the same product type through the qualifying period to receive the bonus.
  • To be eligible for this offer, the new consumer checking account cannot include any signers who: (1) are on any existing NYCB consumer checking accounts (or accounts that have closed in the past 180 calendar days), or (2) have been paid a promotional premium on a consumer account in the past 12 months.
  • Signer is defined by name(s) and Social Security number(s) on the account.
  • Other consumer checking account product types are not eligible for this promotion. This offer is subject to change and cannot be combined with any other offer.

Business bonus:

  • For businesses only. Offer available 3/1/2018–5/31/2018.
  • To qualify for the $250 bonus you must open a new Business Solutions Checking account with $100 not currently on deposit with the Bank, and complete the following activities:
    • 1) Within 10 calendar days after account opening, deposit a total of $25,000 or more not currently on deposit with the bank, and maintain an average daily balance of $25,000 for 90 consecutive calendar days from the date of deposit.
    • 2) Within 90 calendar days after account opening, 10 debit card point of sale (POS) transactions of $10 or more must post to the account. If the POS transaction is considered a debit, a fee may be incurred. Please refer to the Schedule of Fees received at account opening.
  • Once all requirements are met, the bonus will be credited to your account within 10 business days, and may be reportable as income to the Internal Revenue Service (IRS). Account must remain open, in good standing, and in the same product type through the qualifying period to receive the bonus.
  • To be eligible for this offer, the business cannot have an existing NYCB business checking account with the same Employer Identification Number (EIN).
  • The new business checking account cannot include any signers who: (1) are on any existing NYCB business checking accounts (or accounts that have closed in the past 180 calendar days), or (2) have been paid a promotional premium on a business account in the past 12 months. Signer is defined by name(s) and Social Security number(s) on the account.
  • The other NYCB business checking account product types that are eligible for this promotion include: Business Solutions Checking with Interest, Business Solutions Analysis Checking, Business Solutions Analysis Checking with Interest, and Business Solutions Nonprofit Checking. This offer is subject to change and cannot be combined with any other offer.

Avoiding Fees

My Community Interest Checking $6 Monthly Fee

There is a monthly fee of $6, this is waived with a daily balance of $500.

Business Solutions Checking

This account has a $15 monthly fee. This is waived with an average daily balance of $3,000+.

Early Account Termination Fee

I was unable to find the fee schedule so I’m unsure if there is any early account termination fee or not. According to this comment it’s $30 if closed within 180 days of account opening.

Our Verdict

Personal bonus is better due to the lower deposit requirement. $10,000 will turn a lot of people off, but it works out to be a 10% annualized return. Previously they have had a $150 bonus, that bonus was obviously smaller but it came without the high deposit requirement. This is worth doing for some people, if you live near a branch but as mentioned the $10,000 deposit requirement will be an issue for some people. We will still be adding this to our list of the best checking bonuses though.

Big thanks to reader, NoonRadar who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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No branches in South Florida!

Nothing in OH either.. and when listing all Branches I don’t see a single one outside NY..

There are many branches in both the Cleveland/Akron area (Ohio Savings Bank) and the Miami/Fort Lauderdale area (AmTrust Bank). Maybe you are too far from a branch and the branch locator did not recognize your zip code.

Thanks, Don! I had to select Ohio Savings Bank from Advanced Search option in Branch Locator to list OH branches..

There are a number of AmTrust branches in South Florida which is part of their family of banks. Ohio Savings Bank, in the Cleveland area, is also part of their family of banks.

There are plenty of branches in S. FL

Thank you for sharing this! Note that you need to deposit at least $100 when you open the account. From the fine print at the bottom:

“To qualify for the $250 bonus you must open a new My Community Interest Checking account with $100 not currently on deposit with the Bank, and complete the following activities…”

Here is a schedule of fees:
https://apps.mynycb.com/enroll/application/disclosures/MyNYCB%20Schedule%20of%20Fees.pdf

Early closure fee is indeed $30 before 180 days.

Another important thing to be aware of – when doing 10 debit cards transactions (online transaction do not qualify) – always choose CREDIT, otherwise – $1.50 fee per transaction!

so for this offer, need 10k+500+500 in 90days,is that right?
“direct deposits totaling $500 or more must post to the account each month for two consecutive calendar months”

Got 250 exactly on 90th day of 10K deposit. Thanks DoC!

As mentioned elsewhere, the account must be closed in person at the branch. They won’t close via secure message (I tried) and won’t close over the phone (I tried), even with the balance at zero. When they responded to my secure message and when I called, the reps did warn me that I would get charged if the account was open less than 180 days. (Which doesn’t apply to me because I’m beyond 180 days.)

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