Offer at a glance
- Maximum bonus amount: $550
- Availability: In branch only [Branch locator]. All branches are in NJ & NY
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems:Unknown. Not sensitive
- Credit card funding: None
- Monthly fees: Unknown
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None listed
Contents
The Offer
No direct link, available in branch
- Investors Bank is offering a bonus of up to $550 when you open a new checking account. Bonus is broken down as follows:
- $300 when you open a new total business checking account. You receive $25 per month for 12 months, to receive the bonus you must have an average monthly balance of $25,000
- $250 when you set up a TSYS merchant services account and that account deposits funds into your account
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Total business checking account has no monthly fees to worry about
Early Account Termination Fee
Our Verdict
I always say that merchant services bonuses aren’t worth considering, but you can still get a $300 bonus. That being said the $300 bonus requires an average monthly balance of $25,000. I can’t find the interest rate on this account, but I doubt it would be competitive. Because of that I wouldn’t recommend this bonus as you’d be better putting your funds into a high interest account. For bonuses we do recommend click here.
Hat tip to reader Thomas
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
