Offer at a glance
- Maximum bonus amount: $300
- Availability: Must be Maryland resident
- Direct deposit required: Yes, $400+ at least three times within 90 days of account opening
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: $15, 90 days
- Household limit: None
- Expiration date: None listed
Contents
The Offer
- Arundel Federal Savings Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
- Use promo code FREEBEE19
- Get a $50 bonus when you make 15 minimum debit card purchases
- Get a $50 bonus when you enroll in bill pay, establish at least 3 qualified payees and make a minimum of 2 bill payments to each payee within 90 days of account opening
- Get a $100 bonus when you receive a qualified direct deposit of at least $400 3 times within 90 days of account opening
- Get a $100 bonus when you maintain a daily balance of $200 for 75 consecutive days within 90 days of account opening
The Fine Print
- In order to be eligible, you must be a Maryland resident and a new AFSB checking account customer and open a new Arundel Federal FreeBee Checking account online or in-branch using the promotional code “FREEBEE19”. Account application subject to approval. $50 minimum opening deposit required. You may open only one eligible account per Taxpayer ID Number. Offer only available to natural persons.
- You must not have had an AFSB FreeBee Checking account within the last 90 days, had one closed with a negative balance or received an AFSB bonus payment within the last 12 months.
- You must maintain the account in good standing (no non-sufficient funds/returned deposits) during the first 90 days.
- A $15 early close-out fee applies if the account is closed within 90 days of the date the account was opened.
- After 90 days, dependent on which requirements you completed, your bonus will be deposited into your new FreeBee Checking account within 14 business days (Monday-Friday, excluding holidays) as a 2019 FreeBee Bonus. Bonus will be reported on IRS form 1099.
- Offer/bonus is not available to Arundel Federal Savings Bank directors, officers, employees and their families. We reserve the right to withdraw this offer at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
A $15 fee is charged if the account is closed within 90 days of account opening
Our Verdict
They had a $100 bonus with no direct deposit in the past. This is a bigger bonus but you need a direct deposit to get the full amount. I’m not sure if you can just skip the direct deposit requirement and still get a $200 bonus or if you need to have done the direct deposit bit to qualify for the last $100 as well (update: You don’t need to have done the first part to get the second part). Either way still a nice big bonus and we will be adding this to our list of the best bank account bonuses.
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
