Deal has ended, view more bank account bonuses by clicking here.
Update 10/4/25: Deal is back for $400. Hat tip to reader Bockrr
Offer at a glance
- Maximum bonus amount: $220
- Availability: IL, IN
- Direct deposit required: Yes, $1,000
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None listed
Contents
The Offer
- Peoples Bank is offering a bonus of $400 when you open a new checking account and complete the following requirements:
- Enroll in eStatements
- Set up direct deposit
- Receive direct deposit(s) totaling $1,000 or more within 90 days of account opening
The Fine Print
- $220 promotional offer is for opening a Peoples Bank checking account with a direct deposit made within 90 days of account opening.
- Please allow 60 days from the date the first direct deposit is received for bonus to be credited to account by next statement cycle.
- Bonuses are for new checking account customers and limited to one account per customer.
- In accordance with applicable regulations bonus payouts may be 1099 reportable.
- Account must be in good standing and have a positive balance at the time the bonus is paid.
- The minimum balance to open a You First Checking or eChecking account is $50.
- The minimum balance to open a Senior Plus Checking account is $100.
- This is a limited time offer and subject to change without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Your First checking has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not
Our Verdict
There are so many different Peoples Bank it’s crazy, we will call this one Peoples Bank (ibankpeoples IL, IN). This might be worth doing, but we need to know if there is hard pull or not. If anybody goes for this bonus please share your experiences in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
