Posted by William Charles on February 9, 2016
Bank Account Bonuses

Published on February 9th, 2016 | by William Charles

29

[CT, NY, NJ, PA] Valley National Bank $150 My Choice Checking Bonus (17-25 Only), No Direct Deposit

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: CT, NY, NJ, PA. While you can open online, you have to verify in branch. (no longer necessary?)
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Open a new My Choice Checking account with Valley National Bank and receive a bonus of up to $150, broken down as follows:
    • $75 when you enroll in mobile banking
    • $75 for completing a minimum of 20 debit card transactions of $5 or more (note $1 fee for each that is processed with a PIN) or $75 for enrolling in online banking and completing three online bill payment transactions

The Fine Print

  • Requirements must be completed within 60 days of account opening
  • Direct deposit is payroll, Social Security or other government benefits
  • Bonus will be paid out within 90 days of account opening
  • At age 26, the account automatically converts to a Perfect Checking Account
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees on this account and no early account account termination fees.

Our Verdict

It’s a shame this bonus is only open to people under 25, as it looks quite easy to receive the bonus and there are no monthly fees to worry about. I did some more research on this bonus and there are two things to be aware of:

Because of this we haven’t added it to our best bank bonus list just yet, but if you have any experiences with this bonus then please let me know in the comments below. There is also a bonus of $20 per month that Valley National Bank is offering for people that can get to a Brooklyn branch.

Useful posts regarding bank bonuses:



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Dave
Dave

So, if over 26 year old will not qualified for this offer?

Greg
Greg

On the bottom of the link, it says you do need a direct deposit. I just called them to confirm this.Thanks anyways!

I capitalized the portion that says direct deposit.

“Open a new account and receive $75 when you enroll in mobile banking and $75 for scheduling a recurring merchant bill payment or initiating a monthly direct deposit. TO QUALIFY, SET UP A DIRECT DEPOSIT consisting of a payroll, Social Security or other government benefits within the first 60 days and funds will be credited within 90 days of account opening. At age 26, the account automatically converts to a Perfect Checking Account.”

Amos
Amos

“Thank you for your inquiry. Unfortunately, the account cannot be funded with a credit card. You can fund it with either cash or a check. If you have any further questions, please call Customer Service at 800-522-4100.”

^Can’t fund with credit card

Christopher
Christopher

Got the “go into branch” message 🙁

theplaj
theplaj

Got this message on application: “To open your new VNB My Choice Checking account, visit your local Valley National Bank branch with your $0.00 deposit check to open your account, and remember to bring your valid photo driver’s license or passport for each person signing the application.”

Ain’t gonna happen… it’s a couple hundred miles to the closest branch :/

pcgeek
pcgeek

Can I open the account in a NYC if I live in NJ? Asking because I go to school in NYC and there’s a branch a few minutes away.

pcgeek
pcgeek

According to phone rep, it’s not an issue.

d
d

what is merchat bill pay exactly?

trackback

[…] this account and at age 26, the account automatically converts to a Perfect Checking Account. (HT: DoC […]

Curmudgeon
Curmudgeon

Terms of offer appear to have changed slightly:

Open a new account and receive $75 for activating Mobile Banking; plus $75 for completing a minimum of 20 debit card transactions of $5 or more or $75 for enrolling in online banking and completing three online bill payment transactions.

According to the schedule of fees:

https://www.valleynationalbank.com/About/ScheduleFees.aspx

there is a $1 charge for each debit processed using your PIN.

Dave
Dave

Can confirm this works VNB My Choice Checking

2/10/17 – Account Opened – enrolled in e-statements and mobile banking

2/23/17 3 Bill payments of $1 to three diff CC

3/1/17- 75 Bonus posted as 2-$75 My choice CK ATM BP Reward

3/2/17 5 bonus posted as estatement incentive

3/8/17 – 75 Bonus posted as 1-$75 My Choice Ckg MB Reward

Total Bonus $155

Bob
Bob

Dave, thanks for DP. Any news on the limit of 3 Chex inquiries in past 6 months? How many inquiries did you have when you opened? Everything seems great but if this is a real concern I’m not gonna waste an inquiry!

Matt B
Matt B

This is also open to AL, FL, DC, VA, WV,
And MD

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Can confirm you do not need to go into branch to verify identity. William Charles

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