Posted by William Charles on October 3, 2016
Bank Account Bonuses

Published on October 3rd, 2016 | by William Charles

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[MA only] PeoplesBank $100 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: MA only?
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: Open online with promo code GET100
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown 
  • Credit card funding: $500 at least, maybe more.
  • Monthly fees: None
  • Early account termination fee: 90 days, $15
  • Expiration date: October 30th, 2016

The Offer

Direct link to offer

  • Open a new checking account with PeoplesBank and receive a bonus of $100 when you complete the following requirements:
    • Use promo code GET100 and open online
    • Add a direct deposit at the same time you open any consumer checking account (must be received within 60 days of account opening)

peoples-bank

The Fine Print

  • Minimum opening deposit of $10 required.
  • Add direct deposit at the same time you open any consumer checking account and we will deposit $100 into the new checking account after the first direct deposit is made (please allow up to six weeks after your first direct deposit is received). The first direct deposit must be made within 60 days from the date the new checking account is opened.
  • Offer valid from 9/21/16 through 10/31/16.
  • Personal accounts only, limit of one $100 payment per customer and account.
  • 3rd party fees for message, data and internet services may apply.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easiest account to keep fee free is the free checking account as that has no monthly fees. I couldn’t find a fee schedule, so I’m unsure if an early account termination fee is charged or not. Update: According to this comment there is an early account termination fee of $15 if the account is closed within 90 days.

Our Verdict

This has got to be one of the most annoying bank names, there are three banks all with the same name servicing different areas. It’s hard to tell if this is a good or bad deal without knowing if it’s a hard/soft pull and how much you can fund with a credit card. If anybody knows, please share your experiences in the comments below. You can view a list of the bank bonuses we recommend here.

Big thanks to reader, Mark who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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Jeff
Jeff

Can someone update the zip code range that works for this promo? Most Boston area zip codes don’t qualify.

Bungy
Bungy

Looks like Worcester and Western Mass only

Mark
Mark

Successfully opened a FreeChecking account online and funded it with $500 using a CFU.

It seemed as though the maximum CC funding amount could be $1K but the application rejected that amount and limited the Chase CC funding to $500.

Perhaps People’s allows another CC issuer to fund with $1K. I did not try to fund with another issuer.

Mark
Mark

DP: Account must be open for 90-days to avoid a $15 early termination fee.

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