Update 4/17/22: Deal is back and valid until January 31st 2023
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:Â $200
- Availability:Â MD & PA only
- Direct deposit required:Â Yes, $350
- Additional requirements:
- Hard/soft pull:Â Â Soft
- ChexSystems:Â Yes
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee:Â $100, 90 days
- Household limit:Â None listed
- Expiration date:Â
March 31st, 2019 June 30th, 2019 September 30th, 2019 December 31st, 2019June 30th, 2020
Contents
The 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 have not had an existing checking account relationship with the Bank within 24 months.
- 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:
- 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
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Just an FYI the 24 month language is in this offer and it seems to be 24 since you closed an account with them. I know some of us jumped on this deal in spring 2020 and closed in summer so we would not yet be eligible for another couple of months. Hopefully it lasts that long. Also the DD page says Ally worked but it did not work for player 2 in 2020.
List of accepted ZIP codes here: https://www.peoplesbanknet.com/all-service-areas/
Only good for certain Zip Codes in MD & PA not including my PA Zip code. Oh well
Deal extended until January 31st 2023

William Charles 

Chuck
Link: https://www.peoplesbanknet.com/open-an-account/
DP – Bonus-earning and account-closing data points:
– 4/13/2020 – Account (Free-For-All Checking) opened
– 4/17/2020 – Deposited $355 into the account from Wells Fargo
– 5/11/2020 – $200 bonus deposited into account
– 5/18/2021 – Requested that account be closed (over-the-phone).
– 5/19/2021 – Account closed
DP: Player 2 got shot down :(.
Opened 5/12
5/15 ACH push Ally $351
6/11 ACH push Wells $395
Contacted CSR and got the following reply:
General Banking Questions7/16/2020 – 3:50 PM
Good Afternoon XXXXX,
In order to qualify for the $200 bonus there needed to be a direct deposit made into the account of at least $350 within 45 days of the account opening. I do not see any direct deposits into the account. There were two transfers into the account but no direct deposits. Please let me know if you have any other questions.
Thank you,
Kim
Client Care
I got the same denial.
Opened 5/7
5/15 $350 ACH push from Chase
5/27 $352 ACH push from Wells Fargo.
Contacted CSR and got the following reply:
I do not see a direct deposit into your account. I see that there were external transfers coming in from JP Morgan and Wells Fargo, but I do not see any direct deposit (like a paycheck or a social security check). These external transfers do not count as a direct deposit. Please let me know if you have any other questions.
Looks like this bonus now requires real DD.
Opened account 06/22. Wells Fargo 06/26. PENDING ACCOUNT CLOSURE 06/29 because I am out of footprint. Looks like they are starting to verify your address now
6/3/20 Opened account and funded $1,000 with CSP (good chunk of my welcome bonus msr!). I have my cash advance limit set at $100.
6/4/20 Initial funds posted as “PeoplesBank/TRANSFER My Name.
I’ll be initiating a $350 ACH push from a Wells Fargo Checking account Tomorrow 6/5/20. I’ll post an update when I receive the bonus.
6/9/20 $351 Wells Fargo push posted as “Wells Fargo IFI/DDA to DDA”
6/11/20 $200 bonus posted as “Rewards Earned: Spring”
Citizenship required, although landing page says citizen or residents allowed.