Offer at a glance
- Maximum bonus amount: $150
- Availability: MD & PA only
- Direct deposit required: Yes, $200+
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $100, 90 days
- Household limit: None listed
- Expiration date: None listed
The Offer
- Open a new PeoplesBank checking account and receive a bonus of $150 when you complete the following requirements:
- Use the promo code PB150
- Receive a direct deposit of at least $200 within 45 days of account opening
The Fine Print
- One bonus will be credited to an eligible new PeoplesBank checking account for new or existing clients who do not have an existing checking account relationship with the bank.
- To qualify, a minimum of one direct deposit in the amount of $200 or more must occur in the account within 45 days of account opening and the account must be in good standing with a positive balance.
- Qualifying direct deposits include electronic deposits from payroll, Social Security, or retirement benefits and do not include electronic transfers or credits such as account-to-account transfers or those made with internet payment services.
- Bonus will be paid in the form of a statement credit to the account.
- Limit one bonus per client regardless of the number of accounts opened or titling of accounts.
- Offer does not apply to employees of PeoplesBank and their immediate family members. Offer does not apply to Second Chance Checking.
- Bonus paid to the client is reportable for tax purposes.
- A premature account closure fee of $100 will be assessed for accounts closed within 90 days of account opening.
- All checking accounts require a $25 minimum opening deposit.
- Offer may not be combined with any others and may be withdrawn at any time.
- Other terms and conditions may apply and are subject to change without notice. See a PeoplesBank representative for details.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees, according to the fine print they do charge an early account termination fee this fee is $100 if closed within 90 days.
Our Verdict
They have offered a similar bonus in the past, but you got $75 for direct deposit and $75 for one Visa check card transaction of $50+. Basically the same deal (maybe slightly worse if you didn’t want to do the direct deposit but I don’t think it’s worth signing up for for only $75 and slightly better if you do the direct deposit). I do think this bonus is worth signing up for as there are no monthly fees and fairly easy to trigger the bonus as well. I’ll add it to the best checking sign up bonuses.
Hat tip to DDG
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
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- 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?
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- Banks That Allow/Don’t Allow Out Of State Checking Applications
