Published on March 20th, 2020 | by William Charles

[MD & PA] PeoplesBank $200 Checking Bonus

Update 3/19/20: Deal is back and valid until June 30th, 2020.

Update 10/05/19: Deal is back and valid until December 31st, 2019.

Update 8/12/19: Deal is available again and valid until September 30th, 2019. Hat tip to reader Dan R

update 2/10/19: Bonus has been increased to $200 from $150.

Offer at a glance

Maximum bonus amount: $200
Availability: MD & PA only
Direct deposit required: Yes, $350
Additional requirements:
Hard/soft pull: Soft
ChexSystems: Yes
Credit card funding: None
Monthly fees: None
Early account termination fee: $100, 90 days
Household limit: None listed
Expiration date: ~~March 31st, 2019 June 30th, 2019 September 30th, 2019 December 31st, 2019~~ June 30th, 2020

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

PeoplesBank is offering a bonus of $200 when you open a new checking account and complete the following requirements within 45 days of account opening:
- Receive a direct deposit of at least $350

The Fine Print

One bonus will be credited to an eligible new PeoplesBank checking account opened online 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 $350 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 after the 45 day period and may take up to two statement cycles to appear.
Accounts must be opened online by September 30, 2019 to qualify.
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.
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.

Avoiding Fees

Monthly Fees

This account has no monthly fees

Early Account Termination Fee

According to the fine print they do charge an early account termination fee this fee is $100 if closed within 90 days.

Our Verdict

Previously they had a similar $150 checking bonus but that require making debit card transactions of $50 or more as well. This will be added to our best checking bonuses as it’s a relatively easy bonus to meet the requirements for and there is no monthly service fee to worry about.

Big thanks to reader, fST who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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fST

William Charles oops I guess you guys didn’t see my reply to that comment on that other thread? I had tried to open the account with that promo code but it said the promo code is either invalid or inactive.

Josh

“Promo code is either invalid or inactive”

Ian

Got promo code is inactive or invalid message too. Maybe they’re going to release this promo again soon but the system isn’t recognizing it as live yet? IDK seems like a super easy one given recent DD DPs

newbie

https://www.peoplesbanknet.com/150-checking-offer/
working/correct link. it does not say anything abt promo.

fST

Oh cool! Thanks! I’ll give this a try soon.

Simon

I applied for their checking account at about this time of last year. They pulled Chex however denied my app for the reason of TIME AT CURRENT ADDRESS
despite that I had been living at the address for over 2 years. I suspect they might be Chex sensitive – I open ~10 checking accounts every year.

Jan W

Not sure where to alert you to a bank bonus you may not know about, so I’ll just reply with it here… https://www.newsadvance.com/classifieds/print_ads/banking_financial/essex-bank/pdfdisplayad_f6dff30c-b99a-5207-9516-52b3cb5f6cca.html

dizzy

I clicked through and could see it, so took a screen shot of bonus offer for my records. Pretty painless app process, transferred over $25 from Cap One and uploaded DL. It says pending 1-2 days (it’s Sunday now) so we’ll see? Live in Philly.

dizzy

Rejected “out of service area”. Wish they said something about what service area is on the site before I applied, oh well. Can’t win ’em all!

Just tried and the first thing requested was zip code. I am outside their service area. (presume this means you also can’t open in-person)?

Bankho

I opened savings in person. Then as a customer applied online for checking.

Frito Pendejo

Rejected for “out of service area” after a couple days after submitting.

Mrs. Gee

Ugh. How far are you from a branch?

Frito Pendejo

montgomery county, southeastern PA

Siv

Same, I live in MD

bax

Declined for not residing within their service area.

Out of service area, 724 south of pittsburgh

fST

Declined for being out of service area.

Avi

Same as others, declined for being out of their service area. I’m in Maryland, about 40 miles from the nearest branch, and successfully opened an account with them last year for the same $150 bonus.

Willy

Drivers License must match address on application or your application will be considered ‘incomplete’

Chris

08/22/18: Account Opened
08/27/18: $225 ACH from PNC Posted
09/11/18: Bonus Posted

Jared

7/12/19: $350 push from PNC did not count as DD. Confirmed by CSR.

Ryan

9/12- Account Opened
9/24- $201 Schwab brokerage posted
10/11- $150 bonus posted

[MD & PA] PeoplesBank $200 Checking Bonus

The Offer

The Fine Print