Deal has expired, view the best current checking bonuses here.
Update 8/26/18: Similar offer is back through August 28th, and available online with promo code: SUMMER18. This time it’s for $200 cash instead of an Amazon gift card, and you’ll get a 1099 for it. (HT: MP)
Offer at a glance
- Maximum bonus amount: $200 Amazon gift card
- Availability: NJ/NY
- Direct deposit required: Yes, $700+
- dditional requirements: Use promo code AMAZON
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $6 avoidable
- Early account termination fee: $200, six months
- Household limit: One
- Expiration date:
March 31st, 2018August 28th, 2018
The Offer
- Lakeland Bank is offering a $200 Amazon gift card when you open a new checking account and complete the following requirements:
- Use promo code AMAZON
- Require direct deposits totaling $700 or more within 45 days of account opening
The Fine Print
- Offer valid on new consumer checking accounts opened through March 31, 2018.
- Excludes Renewal Checking.
- Not available to existing Lakeland Bank checking account customers or those whose accounts have been closed in good standing within 12 months, or closed with a negative balance at any time.
- Offer not available for account conversions.
- Offer limited to one gift card per account, per household; requires qualifying direct deposit(s) totaling $700.00 or more into account within 45 days of account opening.
- A qualifying direct deposit is a recurring direct deposit of a paycheck, pension or other regular monthly income (including Social Security) electronically deposited into account per statement cycle.
- Personal transfers or deposits made at a branch, online or ATM do not qualify.
- Lakeland Bank will fulfill gift card requirement within 45 days of qualification.
- The value of the gift will be reported to the IRS on form 1099-INT.
- If the account is closed within six (6) months of account opening and the gift card was received, the value of the gift card will be deducted from the account.
- Offer may be withdrawn or changed at any time without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Classic checking is the easiest account to keep fee free. There is a $6 monthly fee that is waived with an average daily balance of $250. You need to keep the account open for six months otherwise they will deduct $200 from your account.
Our Verdict
They had the same offer previously, but that required opening at their branch at Highland Mills. This looks like it can be opened online. Need to know if it’s a hard or soft pull to open. If it’s a soft pull then it looks like a good deal and I’d recommend completing it. Please share your experiences in the comments. I won’t add this to our list of the best checking bonuses until we know more.
Big thanks to reader, Chris L 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
