Offer at a glance
- Maximum bonus amount: $100
- Availability:Â MD, DC & VA only
- Direct deposit required: Yes, $500+ in 4th statement cycle
- Additional requirements: NoneÂ
- Hard/soft pull: Soft
- ChexSystems: Unknown, but according to this comment they are sensitive to too many frequent inquiries.
- Credit card funding: Up to $250, Visa or Mastercard onlyÂ
- Monthly fees: None
- Early account termination fee:Â $25, 90 days
- Expiration date: December 31st, 2016
The Offer
- Open a new Sandy Spring Bank checking account and receive a $100 bonus when you:
- Establish and maintain a direct deposit of at least $500 during the 4th statement cycle
The Fine Print
- To receive the $100 Bonus, open any checking account (excluding student banking) between 8/08/16 and 12/31/16, and establish and maintain direct deposit during the 4th statement cycle.
- Minimum direct deposit to qualify is $500 during the monthly statement cycle from a paycheck, pension, social security or other regular monthly income electronically deposited.
- Transfers from one account to another or deposits made at the branch or ATM do not qualify as direct deposits.
- Limited-time offer available only to individuals who currently do not have a personal checking account with Sandy Spring Bank or have not had one within the last 90 days.
- Offer subject to change and cancellation without notice, cannot be combined with any other offer, and is not transferable.
- Only one Bonus per individual.
- Bonus will be deposited within 30 days of the end of the 4th statement cycle, into the checking account meeting the Bonus requirements, to accounts in good standing.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The my free banking account has no monthly fee and also no monthly minimums. According to this comment the early account termination fee is $25 if the account is closed within 90 days.
Our Verdict
Most people will be turned off by the fact that it looks like they are inquiry sensitive. It’s nice that it’s a soft pull and you can fund a small amount with a credit card. For now we won’t be adding it to our list of the best bank account bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
