Posted by William Charles on April 7, 2019
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Published on April 7th, 2019 | by William Charles

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[MA & CT only] PeoplesBank (Bankatpeoples) $400 Checking Bonus – Direct Deposit Not Required

Offer at a glance

  • Maximum bonus amount: $400
  • Availability: Offer available only to residents of Hampden/Hampshire/Franklin counties in Massachusetts and Hartford county in Connecticut
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: $500 per application
  • Monthly fees: None
  • Early account termination fee: 90 days, $15
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • PeoplesBank is offering a checking bonus of $400 when you open a new PeoplesBank checking account using promo code GET400 and complete the following requirements:
    • $50 when you open any new consumer checking account
    • $150 bonus when you complete 15 point of sale debit card transactions within 45 days of account opening
    • $200 bonus if you have deposits totaling $2,000 or more within 45 days of account opening

The Fine Print

  • Minimum opening deposit of $10 required. $50 when you open any new consumer checking account.
  • $150 when 15 point of sale, (POS) debit card transactions settle, (settlement is the actual withdrawal of funds from your checking account), within 45 days of account opening,
  • $200 if you have deposits totaling $2,000 or more within 45 days after account opening.
  • Customers who have had an open PeoplesBank checking account within 12 months of new account opening are not eligible for payment. PeoplesBank employees are not eligible.
  • Personal accounts only.
  • Limit of one promotional account per household.
  • Cannot be combined with any other offers
  • Offer available only to residents of Hampden/Hampshire/Franklin counties in Massachusetts and Hartford county in Connecticut.
  • Offer subject to change without notice.
  • Payments for POS debit card transactions and $2,000 in deposits will be processed within 6 weeks of fulfilling each requirement.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The free checking account has no monthly fees to worry about

Early Account Termination Fee

According to comments on previous bonuses there is an  early account termination fee of $15 if the account is closed within 90 days.

Our Verdict

For some reason there are a lot of PeoplesBank, so we refer to this as Bankatpeoples as that is the website URL. This is a huge bonus with no direct deposit or monthly fees. Previous best bonus was $300 and that required a direct deposit. Last time that bonus ended extremely quickly, I imagine a similar thing will happen with this bonus so if you’re interested my recommendation would be to sign up immediately. This will be added to our list of the best checking bonuses.

Hat tip to reader Mark A

Useful posts regarding bank bonuses:



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Andy
Andy

To be clear, the $200 bonus after depositing $2,000 is really easy to get, right? As in, I can just transfer $2k from one bank account to another bank account?

Beefer
Beefer

Dope bonus DoC! I noped out of People’s before they finished acquiring Farmington Bank. They told me I’m still eligible, hopefully that’s true!

Fair warning to everyone, their customer service is really bad. We had issues with an account not getting 2FA text message codes and they told us to switch phone carriers. This is truly a grocery store bank.

Also about the name, the true bank name is “People’s United” while “People’s Bank” is the other one in PA or whatever.

creditguru
creditguru

fyi, this is not peoples united bank, it really is “people’s bank” in holyoke MA

Beefer
Beefer

Good call! I actually called People’s United customer support to set up online banking like an idiot.

Brian K
Brian K

They have wild identity verification questions. I failed three times because none of the questions applied. Declined for the account three times. Will try to call customer service for help this week…

BL
BL

Anyone from non-listed MA counties are able to open this?

Sourav
Sourav

Declined with 8 accounts in last 3 months. Wife got declined with 2 accounts in last 3 months. Must be really strict about chex or something else going on.

Kevin
Kevin

Denied for Chex. Score of 540. Lots of accounts opened in last 6 months.

Dima
Dima

Any luck applying from other MA / CT counties?

Brian K
Brian K

I live in Suffolk county (Boston) and it said I was eligible in the “Eligibility Check” screen but then declined me at the very end. It said it was for the identity verification questions but now I’m wondering if they decided after the fact I was not eligible

Mike
Mike

I live in Middlesex county and it let me open an account. Hopefully there will be no issues getting the bonus.

Edit: The e-mail I got from them said “we will email you in a couple of days when we’ve processed your application.” I’m assuming this is the same e-mail that anyone within the target area would receive.

Matt
Matt

I’m also in Middlesex county, and the email that I got said “Your Free Checking account has been opened.”

BIM
BIM

I am also from Middlesex. It took lots of time to open this account.It didn’t complain when I opened with the $400 coupon code. But the bank customer service message me that I m not eligible due to my location. Rdiculus

Andrew Donshik
Andrew Donshik

looks like amex plat went through for 500 dollars, let’s see how this pans out

Skipjack
Skipjack

Applied and emailed approval with $500 in CC funding within 10 minutes after submission. MA resident but not in one of the 3 listed counties.

Brennan
Brennan

It looks like it worked for me as well (Massachusetts, Middlesex county). I was able to complete the application, and I received an email stating “Congratulations! Your Free Checking account has been opened.”

Funded $500 with CSP. Will update when transaction posts whether it coded as purchase.

kreo
kreo

Did it code as purchase? And did they let you in ok with the Middlesex address?

Brennan
Brennan

Yeah, I just entered my address in Middlesex county. No problems.

The transaction hasn’t posted yet. Hopefully it will tomorrow.

Brennan
Brennan

CSP coded as a purchase

apprentice of credit
apprentice of credit

appears norfolk county works. app says under review. im assuming that just means waiting to sign off.. annoying id questions like what year was house built. how much it last sold for ect.. how old is the head of household. i used the same service for blue hills bank and could never get past id questions after several trys as my house has several ages in public records.. but this time I could have sworn i answered a few wrong and it still had me esign.. go figure..lol

BIM
BIM

Thanks for this info. It worked for me. I live in Middlesex County. I have applied for me and for my wife. The application go through fine online and now under process. I am yet to get final account number. I think I will get by today.

Mark
Mark

Just another data point. Went online to fill out application. All went fine until it got to the “Identify” portion where they ask questions about about credit report (address, loans, etc). I have tried three times, and every time none of the questions have any relevance to me whatsoever. Another poster below had the same experience. Not sure where they get their questions, but whatever service they are using appears to have serious issues. I called, stated I could go into a branch and deal with it in person, but not possible over the phone or online.

BIM
BIM

Yes ..most of the questions are irrelevant. I selected, I don’t know answer which are not relevant to me and it went fine. Probably you need to select like that. Only one out of 5 question was relevant to me.

Mark
Mark

Yes, on the first set, 2 of 6 I answered correctly, 4 I said “does not apply” or whatever the answer was, declined. Tried again, the next 6 questions, none of them were applicable, selected does not apply for all of them, declined. Tried again, this time only 3 questions, again none of then applicable, chose does not apply for all of them, declined again. When I try again, it simply takes me to the declined page and wont let me try to answer any more questions. Too bad, as its a nice bonus, but the source for their questions is pretty strange.

Pat
Pat

Same here. The first set of questions actually had relevance to me and I am sure I answered them correctly, the second set only had one of the questions relevant to me, the third set had no questions relevant to me. Aw well.

Shyam
Shyam

DP:
Worked for CT – Tolland county.
6/12 count – 2/6
Funded with ABOC mastercard, coded as purchase.
Application went pending review and got the account opened email next day. However the card was charged as soon as the application was submitted.

Pudding
Pudding

Applied Sunday night from CT but not Hartford County. At verification step they didn’t give me any questions to answer, saying I would be contacted about other means of verification. Maybe due to me being in incognito mode? (pure speculation). Application went thru, they charged $500 to my citi aa biz immediately (CA limit = $1400) and it wasn’t showing as a cash advance. Monday got email saying my app is declined due to inability to verify identity and to apply in branch instead. I called support to ask if I went in branch whether it would be to verify for my online app or whether it would mean starting a fresh app; they said it would be the latter. I’m out of footprint so am thinking it would be futile to go in branch but am contemplating trying online again, except not in incognito mode. Chex didn’t appear to be a problem for my app and I have 15 new accounts in 6 months and am guessing about half of them had Chex inquiries.

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