Posted by William Charles on July 2, 2018
Bank Account Bonuses

Published on July 2nd, 2018 | by William Charles


[Expired] [AL, FL, NJ, NY, and PA Only] Valley National Bank $200 Checking Bonus

Deal has now expired and is no longer available. View the best current checking bonuses by clicking here.

Update 07/04/05: It’s actually only available in AL, FL, NJ, NY, and PA as you need to open a Premier checking account and that’s not available in DC, MD, VA, WV. In addition we incorrectly stated that this is the same bank as Incredible Bank, that’s River Valley Bank. Thanks to reader Ian for pointing this out.

Update 07/02/2018. Reposting as Incredible Bank bonus isn’t offered anymore and this bonus is now available in more states as well Thanks to reader Maggie & JuicyJosh.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability:AL, FL, NJ, NY, and PA
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $15, avoidable
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Valley national Bank is offering a bonus of $200 when you open a new VNB Premier checking account and complete the following requirements:
    • Receive a qualifying direct deposit

The Fine Print

  • Cash reward will be credited within 90 days after initial direct deposit and may be IRS reportable.
  • All cash reward amounts are subject to change at the Bank’s discretion
  • A qualifying direct deposit is defined as a recurring payroll direct deposit or electronic deposit of pension or government benefit such as Social Security. Transfers from one account to another or deposits made at a branch or ATM do not qualify as direct deposits
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is a $15 monthly fee, this is waived if you have a minimum daily ledger balance of at least $99. There is no early account termination fee.

Our Verdict

Previously they have offered two bonuses:

I think this bonus is better than the first one listed as you don’t have to worry about hitting the requirements every month for 12 months. Most readers won’t be eligible for the second bonus and this current bonus is an extra $50 but does require a direct deposit. Overall I think this new bonus is probably the best they have offered, let’s see how strict they are on the direct deposit requirement though. I’ll be adding this to our list of the best checking bonuses. .

Useful posts regarding bank bonuses:

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Super Leisure Man
Super Leisure Man

They also have branches in south Florida (Sarasota, Ft Myers, Naples, Miami, Ft Lauderdale areas).

On the application page, they don’t have CT listed in the dropdown to be able to continue.

Not applicable for residents of PA.It says limited to residents of NY, NJ, FL and PA does not appear in the drop down menu too…

Doc the dropdown for state only allows customers from NY, NY, AL and FL.

Made popcorns and sat down to open accounts for me and P2. No go for PA unfortunately.

I already have an All Access Account. Am I eligible for the bonus by opening the Premiere checking account?

Is there a minimum for the direct deposit requirement?

Also curious

I did not call the bank, but in the terms specifies that, concerning the $15 monthly maintenance fee, “No monthly maintenance fee with a minimum qualifying direct deposit of $1,000 to your account during the monthly statement period.” Continuing, the language used for clarifying the bonus terms is “Cash reward will be credited within 90 days after initial direct deposit and may be IRS reportable.”
So, an initial DD is not necessarily a qualifying DD.

I explicitly asked with regards to the required DD “Will any amount work?” and received the following:
Cash Reward: $200 will be credited within 90 days after initial payroll direct deposit. So the rep even cited their own terms. Seems like a good sign.

‘initial payroll direct deposit’ restricts to payroll but their current Disclosures say $200 after ‘initial direct deposit’, not restricted to payroll.
‘initial payroll direct deposit’ is in their Sept 2017 Disclosure sheet but out-of-date now.

In NJ, opened account and told I will hear back within 48 hours. Will need to verify external bank account for funding as well.

Opened on May 16 and it was approved and officially opened today, May 17 after verifying micro deposits to my external accounT.


Thanks for the DP. What is your Chex history like? How many checking accounts have you opened in the last 12 months?

Valley made #13 in the last 12 months.

Just got login information today, I’ll try some things for DD data point.

Opened May 12, received login information today. This is my 14th new account opened in the last 12 months, so I do not believe they are chex sensitive.

Edit: Also in NJ

No credit card funding, only transfer from another account or mail a check.

Denied. I suspect due to the fact that I opened an Incredible account the day prior. At that time, I did not know that they were the same bank. The email also mentions that the reason for the denial is based on my ChexSystems report. So, they are likely Chex sensitive.

William Charles Maybe you can mention to potential applicants to wait a while if they’ve recently acquired an Incredible account or have heavy Chex activity.

According to Wikipedia, Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey. Its principal subsidiary, Valley National Bank, operates 209 branches in 30 counties in northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida.

According to River Valley Bank’s about us page, Incredible Bank is the online division of River Valley Bank. River Valley operates in 15 communities throughout central and northern Wisconsin and Michigan’s Upper Peninsula.

Though they have similar names, they are different banks.

+1, with my thanks as that is also my understanding.

Made a cash deposit yesterday and received the $200 bonus already! Oddly, it is post dated to May 21st.

Wow! Thanks for the DP. That cash deposit was your only deposit? You didn’t send a DD? I’m still waiting for them to process my online login even though my account has been approved and I have my Account number already.

Looks like an Alliant CU ACH “deposit” posted same day, so now I’m not sure which one triggered. 🙁

Hi Tom, did you get that online account login yet? I, too, am still waiting (been two full calendar weeks since I got the original email saying I was approved).

Not yet. Applied on May 18. I did receive a letter from them that I had to sign and send back. It wasn’t exactly a signature card. They already withdrew my initial deposit from my other bank account on May 21.

Thanks – looks like we’re in the exact same boat, then. I too felt like it was meant to function *as* a signature card, it had every aspect of it except for a heading reading “Signature Card”.

Update: Today I got an exciting letter asking me to … confirm my snail mail address. W00t! They did provide contact details. I will probably use them tomorrow, if I don’t get login details.

Finally received online access today. Logged in and saw I received the $200 bonus already on 5/29. Looks like my initial deposit $100 during the application triggered it.

Lucky! After a 15 minute phone call with 2 different individuals this afternoon, I was told I had to send some new type of signature form; or maybe it was the same as the old one – I didn’t check – and that that was the reason for the holdup. (Pretty sure I mailed the signature form on May 21, but oh well…)

After surrendering a (new) copy of the form, I got the blessed email telling me I now had online access and should sign in using my username and password, which … still doesn’t work, lol. They duly send the prompt to my phone number; but the “new” password(s) they convey to me via the automated message, haven’t worked to log into my account; and now the interface tells me I’ve tried so many times I’ll have to call the 1-800 number again to unlock.

Updating my own update: After another call to the bank today, I was able to get them to unlock my online account. It lists the same inscrutable line item description of “ACH Online Funding” for my initial deposit, but/which has date of May 18 and… did not trigger the bonus. 🙁

Did you finally get your bonus?

What was the amount?

Cash was $200, ACH was $100. Not sure which one triggered it.

Me too! $200 Bank at Work Cash Reward received 5/21 and I don’t know whether my initial ACH funding triggered it or my micro deposits from linking the source I intended to use for the required direct deposit.

denied by applying online due to chex. Would it be eligible to open in branch?

I may inquire about in-branch opening also. I was denied ‘based on Chex’. I have opened a few new accounts, but also closed a few old accounts. Santander was one who turned me down online, but had no problem in the branch.
Im traveling this week, so will check next week. I did recently open an account with another local branch, but they made no comment During the in-branch opening.

Applied 5/22/18, NJ resident
$30 opening deposit from Chase (Valley used 2 trial deps to verify chase acct)
Opening deposit listed as ACH online funding, posted 5/23
$200 bonus posted 5/29

Checking or savings?


Thanks. It worked for me. Received my push from Chase checking today and the bonus posted immediately.

One note though: I had a hard time getting access to my account online, and after calling they sent me a document via email to sign to gain access. Gained access a day after that.

Update: They took the 200 back…. Just contacted them as to why. It says on the site that the money was withdrawn because it was given as a mistake.

Update 10/16: After the claw back, a representative told me that the bonus was given in error since the deposit had been an ACH transfer and not a DD. However, they told me that there was no deadline for when a DD would need to be initiated, nor was there a minimum. Last week I received a legit DD of $100 and the $200 bonus posted today. Let’s hope it stays this time….

William Charles You may want to add this DP to DD info.

P.s. How can I update a previous comment of mine? would help simplify this thread.

Thanks for the DP. How long did it take you to receive online access? I applied on May 18 and received my account number, but still don’t have online access.

Still waiting for my access too – applied on 15th.

Applied 5/22
Received email granting online access 5/24

Been 7 days after my account was approved and still waiting for online access approval

I’m going on nine days and counting over here. In the interim, they’ve sent me two email surveys desperately asking for my feedback on how they’re doing, lol. I finally answered the second round, and made my every response to them, contingent upon the fact that 90% of the answers have to be “N/A”; and strongly hinted that the remaining 10% would brighten up greatly, were I actually able to access my account and money.

[ETA: I already know they took my money. My funding account shows the transactions from Bottomline Technologies, and also the initial deposit amount I pushed from funding account.]

are u guys requesting by going here??
once you finished the form, it should only take on;y one business day to get email approval. I opened two accounts, me and for my wife, i received email the next business day. I would call them if you have done the above.

I applied for Online Banking 6/19, called today 6/21, they stated they’re still processing…

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