Posted by William Charles on July 21, 2017
Bank Account Bonuses

Published on July 21st, 2017 | by William Charles

42

[MD & PA] PeoplesBank $150 Checking Bonus

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

Direct link to 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  •  Offer may not be combined with any others and may be withdrawn at any time.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:



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Tremors 2
Tremors 2

The PB150 code isn’t working for me. The error message is “Promo code is either invalid or inactive.” I’m in MD and have never had an account with this bank before. Anyone else having any luck?

Ry5
Ry5

I live in PA and I’ll try it and report back!

Ry5
Ry5

I applied for a “Free for all” checking account and it says the promo code is invalid when I use “PB150”.

Bill F.
Bill F.

Same for me!

Ry5
Ry5

Code is now working for Philly area. Last bonuses have posted quickly. Hopefully that will happen here!

Ry5
Ry5

Got denied this morning citing Chexsystems. I probably have 10 new bank accounts in the last 2 months….so that’s probably why.

Rich
Rich

I am getting an error when entering the PB150 code: “Promo code is either invalid or inactive.”

SS
SS

likewise, get that on page 2 of application using a south central PA zip code (appears in service rage)

Promo code is either invalid or inactive

Assuming this is broken for everyone applying via the website?

dood
dood

Saying that promo code in invalid,opening with baltimore zip code

diomaiuti
diomaiuti

Website is currently down, as far as I can see. Not just the promo link, but the http://www.peoplesbanknet.com main page. Ooops! Will try again later.

diomaiuti
diomaiuti

Now up, but, as reported, promo code is invalid for Free for All acct. Will it work on another type? Eventually, I may be the DP…

Alex
Alex

I got a bonus and closed Free for all Checking with them about 2 months ago. I wonder if I am eligible for the bonus again.

Neels
Neels

What did you use to count for DD?

Frito Pendejo
Frito Pendejo

Promo code invalid or inactive, Southeastern PA.

J
J

No go for north of Philadelphia.

ElJefe
ElJefe

Yup, not valid for southern Maryland

SS
SS

Can any one confirm this offer working for any geography?

Garrett
Garrett

Just tried PB150 with Annapolis, MD zip code and it worked.

Rich
Rich

PB150 is working in 21224 (Baltimore). I tried last week and it did not work. It is working today.

Simon
Simon

the code works for the Pittsburgh area.

p.s. – No cc funding allowed.

Simon
Simon

after the application went pending for almost a week, they told me it was denied. no specific reason was given, just said they pulled chex.

had opened ~15 accounts in the past 12 months. no sure if that’s the reason..

Kevin
Kevin

I’ve opened 15 or so in the past 3 months and I was approved for a People’s Bank account last Monday after applying over the weekend.

SS
SS

Thanks for updates everyone. I applied in 17202 and it worked

Harv
Harv

Bank is based in York PA, with 7 branches in MD. PA branches look to all be in York county.

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