[D.C., MD, NC, PA, SC, WV & VA only] MVB Bank $150 Checking Bonus – Students/Teachers Only

Offer at a glance

• Maximum bonus amount: $150
• Availability:  D.C., MD, NC, PA, SC WV & VA only. Must be a student or teacher
• Direct deposit required: Yes, $500+
• Additional requirements: 10 debit card transactions
• Hard/soft pull:Soft pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $5, avoidable
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• MVB Bank is offering a bonus of $150 to teachers and students when they open a new smart checking account. Requirements for the bonus are as follows:
  • Receive a direct deposit(s) totaling $500+ within 60 days of opening
  • Make at least 10 qualifying PIN point of sale signature based debit card transactions

The Fine Print

• Teachers and students can earn $150.00 when opening a new MVB Smart Checking account by 1) signing up for online banking at mvbbanking.com 2) setting up a qualifying $500 Direct Deposit within 60 days of opening your new Smart Checking account. The direct deposit can be one or multiple direct deposits and must post and settle to the account in the first 60 days of account opening. 3) making at least ten (10) qualifying PIN Point of Sale or signature-based purchases using your new MVB Visa Debit Card within the first full Monthly Statement Cycle.
• Debit card transaction must post and settle to the account during the statement cycle to count.
• After you have completed all of the above requirements, we’ll deposit the incentive into your new account within 30 business days.
• Incentive is considered interest and may be reported on IRS Form 1099.
• A qualifying direct deposit is an electronic credit of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency.
• Transfers from one account to another or deposits made at a banking location, ATM or online transactions do not qualify as a Direct Deposit.
• Promotion only extended to new MVB Smart Checking Account customers.
• You may only receive one deposit account related incentive per Tax ID number per calendar year.
• The new account must remain open and in good standing with a minimum balance of $0.01 until the reward is processed to receive the reward.
• Promotion valid beginning 08/19/2019 and is subject to withdrawal at any time.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Smart Checking account has a $7.5 monthly fee, this is waived if you do either of the following:

• Receive a monthly direct deposit
• Have a daily balance of $1,000+

Early Account Termination Fee

I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

We have seen a bonus of $200 with smaller requirements in the past. Because we’ve seen a bigger bonus with smaller requirements relatively recently I won’t be adding this to our list of the best checking account bonuses.

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• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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