As predicted that didn’t last long. View the best current checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â MA only, maybe other New England states?
- Direct deposit required:Â Yes, $50+
- Additional requirements:Â Use promo code GET300
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â $500Â per application
- Monthly fees:Â None
- Early account termination fee: 90 days, $15
- Household limit:Â None listed
- Expiration date:Â December 31st, 2017
The Offer
- PeoplesBank is offering a checking bonus of $300 when you open a new PeoplesBank free checking account and complete the following requirements:
- Use promo code GET300
- Sign up for a qualifying direct deposit of at least $50. Must be made within 60 days of account opening
The Fine Print
- Minimum direct deposit of $50 required to receive payment.
- Sign up for direct deposit (direct deposit transactions are limited to payroll, social security, pension and government benefits) at the same time you open a PeoplesBank Free Checking Account or any consumer checking account and we will deposit $300 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.
- Minimum opening deposit of $10 required.
- Offer valid from 11/20/17 – 12/31/17.
- PeoplesBank employees are not eligible for this promotion.
- Personal accounts only, limit of one $300 payment per customer, cannot be combined with any other offers. 3rd party fees for message, data and internet services may apply.
- Must enter code “Get300” to be eligible. Online account openings only.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The free checking account as that has no monthly fees. 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
There are lots of different banks called PeoplesBank, making this super annoying. That’s why we also refer to it as bankatpeoples (the websites URL). Obviously a nice big bonus, shame we don’t know if it will be a soft or hard pull to open. If anybody knows, please share in the comments. I won’t add it to the best checking bonuses until we know more.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
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
I know this is a very old article. But I am preparing my 2018 tax filing. I closed this account in Aug 2018 and was supposed to receive a 1099 INT. But somehow it never arrived. Could anyone who jumped on this deal tell me if you received it? Thanks!
Never received mine…
I got a late DD in, sent a message, was told I was at 63 days and wouldn’t get the bonus, but the bonus eventually posted.
Initial funding posted Dec 11, Schwab transfer of $50 on Jan 30, work DD posted on Feb 9, bonus posted on Mar 15.
Tried Fidelity Brokerage and Capital One Checking transfers. Both coded as external transfer but neither triggered bonus. better make sure you use a real direct deposit for this bank.
Account opened 12/11/2017, few $100 direct deposits made every few weeks since, bonus posted on 1/12/2018
Funded with $500 from CIP card, coded as 3x UR transaction. DD from work has been posting to the account for the past two pay cycles, bonus posted this week.
I used payroll so I won’t be able to add DP’s. But last week my banker at Longmeadow office told me that the bonus is a automatic process. So definitely possible with ACH’s.
Bonus credited to my account today.
Account opened 12/4/17, funded with credit card, coded as purchase
$50 DD from payroll 12/20
Bonus paid on 1/11/18
I can understand that they are slammed by new accounts but this is really poor customer service. On Dec 8th, my wife applied online. As part of the application she also submitted a copy of her passport for ID. She received an email saying the application is under review. The next business day, it said that she was declined because they couldn’t verify her identity. So she called up and ask what could be done. All the manager and rep had to say was that they were unable to verify her identity. My wife insisted on finding out what exactly didnt not match up (e.g. name, address, passport, personal security questions, salary or etc.). They regurgitated the same reason, they couldn’t verify her identity. The bank didn’t offer any additional information on what wasn’t matching up, this is just horrible customer service and asinine.
My account got approved but can’t get the online set up to work. input account number and related info. bank not able to help. anyone else have difficulty setting up online account after application approved?