Update 5/17/22: Extended until August 31, 2022.
Update 4/21/22: Extended until 6/30/22 with this link.
Update 2/19/22: Deal is back and good through April 30, 2022. Now available in more states: DC, MD, VA, DE, PA, or WV
Update 10/16/21: Bonus has been increased to $200 and valid until November 15, 2021.
Update 4/22/21: Deal is back and valid until 4/30/21. Hat tip to ShawntheShawn.
Offer at a glance
- Maximum bonus amount: $150
- Availability: DC, MD, VA, DE, PA, or WV only
- Direct deposit required: Yes, $500+
- Additional requirements: eStatements & debit card transactions
- Hard/soft pull: Soft
- ChexSystems: Yes, according to this comment they are sensitive to too many frequent inquiries. Other datapoints below indicate they are not. This comment says they will deny if you have more than 3 in last 90 days.
- Credit card funding: Up to $250, Visa or Mastercard only
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: None
- Expiration date:
February 28th, 2017May 31st, 2017 October 31st, 2018 March 31st, 2019April 30th, 2019August 31st, 2019October 31st, 2019April 30, 2021
The Offer
- Open a new checking account with Sandy Spring Bank and receive a bonus of $150 when you complete the following requirements:
- Receive a direct deposit of $500+ within 60 days of account opening. Then continue to receive a monthly direct deposit of at least $500 for 4 months
The Fine Print
- Open any checking account (excluding Student Banking) online or mention the offer when you call our client service center or visit our community offices between September 1, 2018 and October 31, 2018.
- Establish direct deposit of at least $300 within 45 days of account opening 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. Then continue to receive a monthly direct deposit of at least $300 for 4 months.
- 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 and cannot be combined with any other offer.
- Only one bonus per individual.
- Bonus will be deposited within 125 days of account opening, into the checking account meeting the bonus requirements.
- Accounts must be in good standing.
- All applicable taxes are the sole responsibility of the recipient.
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 180 days.
Our Verdict
Previous years it required no direct deposit, or only a direct deposit for one month. This new offer requires it for 5 months. It’s at least better than the $10 monthly bonus they offered earlier in the year. It sucks that this bank is inquiry sensitive, because this is actually a pretty good bonus.I guess if you don’t have too many inquiries on your ChexSystems report then this is worth it, otherwise you’ll most likely be denied. As always please share your datapoints in the comments below. Might add it to our best checking sign up promo page if we can get some more datapoints on how sensitive they are to inquiries.
Big thanks to reader, Curmudgeon & Fork who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
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
Post history:
- Update 9/15/19: Deal is back and valid until October 31st, 2019. Now requires a $500 direct deposit instead of $300. Hat tip to reader TK
- Update 7/13/19: Deal is back and valid until August 31st, 2019. Hat tip to Andrea
- Update 2/10/19: Deal is back and valid until March 31st, 2019. Hat tip to reader Gadget.
- Bonus is back for 2018. Hat tip to reader YAR.
No more online openings at the moment:
NOTICE: Online account opening is undergoing maintenance and is currently unavailable. Please visit a nearby branch or call 800.399.5919. We apologize for the inconvenience.
As of May 17th.
Waiting on my bonus from my March acct opening… Does anyone have a recent DP on payout?
I opened in February and I’m still waiting. Used legit DDs and my 125 days passed on Friday. Planning to call this week.
Any news on that conversation?
I called and they told me that I had to wait 30 days from the 125 days after account opening to receive the bonus. That was not the terms, but I didn’t really feel like arguing especially because they said I had met the requirements. That was about a week ago, and the bonus posted this morning. Account opened in early Feb, with real bi-weekly DDs in March, April, May, and June.
I recently moved and got a mailer the other day with almost the same offer, but it’s good until 6/30/22.
Per the mailer, it requires a $500 direct deposit w/in 45 days of opening, which must continue for at least 4 months (3 statement cycles after opening cycle).
https://www.sandyspringbank.com/offer/neighbors
3/17: applied online and could not verify identity, message to call or visit a branch
3/18: visited a branch and denied, assistant branch manager does not know why
Chex (not including Sandy Spring Bank): 1/1, 2/3, 11/6, 15/12
Instant approved. Chex inquires/months = 1/1, 3/2, 4/3, 9/6, 19/12. (not counting Sandy Spring)
No issues setting up online banking – instant approved as well.
I’m in a listed state (VA), but the nearest branch is ~200 miles away by car.
My last Sandy Spring account closed Nov 2020.
Going for a churn. My last account was closed in late 2020. $250 CC funding – Citi DoubleCash. Let’s see if it sticks?
Instantly approved/acct number provided. At exactly 3 other Chex inquiries in the last 90 days, not counting this one. 1 in Jan, 2 in Feb.
Getting an error when trying to enroll in online banking. Not overly surprised. Will likely have to call, but I will give it 24 hours.
Had to call to get online banking enabled – I chose online banking support vs personal account support via the phone tree. Rep said he had to get it approved/push it through, after a short hold, the new login I created a few days ago worked – call only took a few minutes. Pretty sure it was only an issue because I have had an account with them before, but maybe it’s best to wait a few days before even trying to register.
Received my debit card PIN in the mail, but no card yet. I recall just getting a debit card was a fiasco in past applications, so maybe they have improved (I assume no PIN would be sent if no card was ordered). Citi Double Cash funding did post as a purchase.
@gadget how are you under 3/3 on chex? LOL. But thanks for the DP…I am not anywhere near that these days, tho Feb I was lazy
– I’ve slowed down with the applications… plus the 2 years between accounts rules are taking a toll.
– VA doesn’t have quite as many options as PA.
– You don’t have to be under 3/3… just at 3/3, not counting Sandy Spring/Chex only.
BMO in Jan, Citizens & Truist in Feb. Rerolling SoFi doesn’t count (EWS).
I have eyes on Senate, South State, M1 checking, Citi reroll coming soon, etc.
Two more DPs to confirm others experiences, both P1 and P2 received bonuses on the closing date of the 4th cycle. P1 made DDs in all four, but P2 ended up only needing them in three since the first cycle closed within a couple weeks of opening. So, waiting until after the first cycle closes but before the 45 day window to make your first DD should be fine.
Must Reside in DC, MD, VA, DE, PA, or WV
“Thanks for applying, unfortunately we’re unable to verify your information” and wants me to call or visit branch
P2 had to open in branch. $25 mininum cash or check deposit required, asked to fund later online or use credit card but they said no…YMMV.
Lol