[Expired][CA] Metropolitan Bank $300 Checking Bonus

Offer at a glance

• Maximum bonus amount: $300
• Availability: Must be a resident of California
• Direct deposit required: Create one to two recurring direct deposits totaling $500 or more each per month for 6 months
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $8, avoidable
• Early account termination fee: Six months+
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Metropolitan Bank is offering a $300 bonus. Bonus is broken down as follows:
  • Get $50 when you open a checking account with us online using promo code “WELCOME”
  • Get $50 for each monthly recurring direct deposit or bill pay set up (max 2 each), up to $200!
  • Get $50 for opening a debit card and making a purchase

The Fine Print

• Bonus cash offer is available to existing and new Bank checking account customers who open a new account online with new funds.
• All applicants must not have closed checking accounts or savings accounts with the Bank within 90 days prior or closed accounts with a negative balance within the last 3 years.
• You can receive only one new bonus checking account per customer.
• To receive a bonus when applying online, use promo code: WELCOME.
• To receive the bonus:  1) Open a new qualifying Bank checking account, which is subject to approval;
• To receive additional $50 bonuses: 2) Create one to two recurring direct deposits totaling $500 or more each per month for 6 months made to this account within 30 days of opening your account. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person-to-Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. Each recurring deposit of $500 or more is entitled to receive a $50 bonus;
• To receive additional $50 bonuses: 3) Set up one to two recurring monthly bill pays from your account. Each recurring bill pay is entitled to receive a $50 bonus.
• To receive additional $50 bonus: 4) Get and use a debit card linked to this account.
• This offer is only valid for checking accounts opened online.
• After you have completed all the above requirements, we will deposit the bonus in your new account within 30 days.
• To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership.
• Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

$8 monthly fee, but waived when you maintain a minimum average daily balance of $1,500 per month or a combined average monthly balance of $5,000 in a combination of checking or savings accounts

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

It’s nice that you can get at least some portion of the bonus without a direct deposit.

Hat tip to reader RM

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