Deal has expired, view more bank account bonuses by clicking here.
Update 7/29/19: Today is the last day to enroll in this promotion.
Offer at a glance
- Max Bonus Amount: $500
- Direct Deposit Required: No
- Additional Requirements: $50,000 deposit (new funds)
- Hard/Soft Pull: Soft pull
- Credit Card Funding: Unknown
- Monthly Fees: None
- Availability: Nationwide, new or existing users
- Expiration Date: enroll by July 29, 2019 and fund within 10 days
- Insured: FDIC
The Offer
- Marcus Bank is offering new and existing customers of their online savings account a cash bonus of 1% of their deposit amount, up to $500 bonus.
- You need to enroll for this offer.
- Bonus is only on new funds deposited within 10 business days of enrollment/signup.
- You must maintain the new funds for 90 days.
The Fine Print
- Earn a 1% cash bonus up to $500 on your Marcus Online Savings Account.
- Offer valid from July 15, 2019 – July 29, 2019.
- Balance requirements and terms and conditions apply.
- To be eligible, you must enroll for this offer at https://www.marcus.com/us/en/savings/cashbonus or by calling Marcus at 1-855-730-SAVE (1-855-730-7283) by 11:59 PM EST on July 29, 2019.
- Minimum $1,000 in new funds to qualify. Internal transfers don’t count.
- Multiple deposits may be made during this time and can be made by any owner on the account.
- Funds deposited in your account prior to enrollment are not eligible for the cash bonus.
- Your balance at the end of your enrollment period is your “Enrollment Account Balance”.
- Maintain your Enrollment Account Balance through 11:59 PM EST of the 90th day following the enrollment period (the “Maintenance Period”).
- The bonus will be deposited into your account within 14 days after the end of Maintenance Period.
- The bonus will be treated as interest for tax reporting purposes.
You can see the full FAQ here.
Our Verdict
Max this out with a $50,000 deposit to get the full $500 bonus. The savings account earns 2.15% which isn’t bad, though there are better. We saw Ally do a similar thing last year, and there was another one similar recently as well, from memory. It’s especially nice that they offer this for existing customers too.
Marcus recently reduced the saving APY rate from 2.25% to 2.15%. Still, with the added 1% boost, you’ll land up with a nice ~6% rate for those 90 days. Personally, I just look at it like a ~$450 bonus for someone who anyway has funds sitting in a 2.50% savings account.
Hat tip to Wche
