[Expired] [NJ/NY] Lakeland Bank $300 Checking Bonus

Deal has ended, view more Lakeland Bank deals by clicking here.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability:  NJ/NY
  • Direct deposit required: Yes, $1,500+
  • Additional requirements: Use promo code
  • Hard/soft pull: Soft pull
  • ChexSystems: Yesnot sensitive
  • Credit card funding: Up to $1,000
  • Monthly fees: $6
  • Early account termination fee: $300, six months
  • Household limit: None listed
  • Expiration date: December 31, 2020

The Offer

Direct link to offer

  • Lakeland Bank is offering a $300 when you open a new checking account and complete the following requirements:
    • Use promo code BONUS20
    • Require direct deposits totaling $1,500 or more within 60 days of account opening

The Fine Print

  • Offer valid on new consumer checking accounts opened through December 31, 2020.
  • Must use promo code provided at account opening.
  • 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 $300 cash bonus, per individual taxpayer identification number; requires qualifying direct deposit(s) totaling $1,500 or more into account within 60 days of account opening.
  • A qualifying direct deposit is a deposit of a paycheck, pension or other regular monthly income (including Social Security) electronically deposited into account. Personal transfers or deposits made at a branch, online or ATM do not qualify.
  • Lakeland Bank will fulfill bonus within 45 days of qualification.
  • The value of the bonus will be reported to the IRS on form 1099-INT. If the account is closed within six (6) months of account opening and the cash bonus was received, the value of the cash bonus 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  • Offer may be withdrawn or changed at any time without notice.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

Monthly Fees

There is a $6 monthly fee, this is waived with a $250+ minimum balance.

Early Account Termination Fee

Account needs to be kept open for six months or bonus is forfeit.

Our Verdict

There was a $300 bonus that didn’t require a direct deposit, but that was in branch only. This is a nice big bonus that can be done online and requirements aren’t difficult to meet. This will be added to the best bank account bonusses.

Hat tip to reader Mark

Useful posts regarding bank bonuses:

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VM
VM

This bank is such a joke.

P1 opened account on 12/22 and got approved and account number. Bunch of physical mails after that but not able to sign up online access. Finally more than a month later spoke to them and they said there were issues with app so I have to go into the branch (account is open) – told them not going into branch so they can close the account. Apparently they cant close the account if there is a balance in the account – and I cant take the balance out because I dont have online access. Finally threatened them and got the account closed.

P2 opened account on 12/22 and got approved and account number. No online access. Few weeks later gets an email saying that account was declined and cant be opened and initial deposit was returned. Fine. Last week started getting emails and physical mail stating that the account is now open. This is such a joke.

RXSAMG
RXSAMG

DP – Lakeland Bank
12/22 Applied w/ $1k Visa CC Funding
1/21 Finally got online account access, but showed zero balance! *ACCOUNT OPEN DATE*
1/22 Balance corrected showing opening transaction
1/29 $2k Real DD posted
2/2 Pulled all but $250 left to keep fee free
2/9 $300 Bonus posted
Keeping open ($250 bal) until 8/2021 to avoid ETF

** PSA: BE MINDFUL OF THEIR LISTED ACCOUNT OPENING DATE TO CALCULATE YOUR 6 MONTHS – MINE WAS A FULL MONTH LATER THAN INITIAL APPLICATION/FUNDING DATE **

Mark
Mark

Here’s my DP showing that Chase works for Lakeland Bank DD.

12/21/2020: Account Opened with $250 opening deposit
01/01/2021: $1,501.65 standard ACH push from Chase
01/19/2021: Pulled $1,501.65 from another account
02/03/2021: $300 Bonus

Phew
Phew

Jan 21 opening deposit
Jan 29 real DD
Feb 9 $300 bonus

Phew
Phew

Anyone figure out how to transfer money out… no external transfer enabled it seems?

Kenny Shaw
Kenny Shaw

Wow finally some life signs! Opened and I can access but same issue no balance. You can access account number from your saved application still to setup direct deposit.

Kenny Shaw
Kenny Shaw

Deposit posted for me.

RXSAMG
RXSAMG

Same…..glad I can skip my phone call to the bank tomorrow. Any guess how long they’ll take to payout bonus? I’ll have my DD post 1/29

Bobo
Bobo

Opened on 12/22, even got an account number after submission — but then nothing. Just called them, and they said they will not be moving forward with the application and that they will be reversing the charges. I’ve opened probably ten accounts in the last year, so maybe they are now Chex sensitive? Oh well.

Phew
Phew

Finally got account open, got access to e-banking… $1000 opening deposit (Chase) is not there yet + no idea how to find my account # OR their routing number even

Terry
Terry

Same here, where is my $1000?. ridiculous…..you get the account number on the confirmation page when you apply…

Phew
Phew

Talked to my new branch BFF – they’re manually applying deposits it sounds like… keep an eye out but they said in a week.

Also company IT infrastructure sucks but people seem nice so branch might be the way to get support

RXSAMG
RXSAMG

How did you get e-banking access?

Phew
Phew

Email

RXSAMG
RXSAMG

I finally got access & same….zero balance. Will be calling tomorrow. Ugh

RXSAMG
RXSAMG

Deposit finally posted….30 days post opening/deposit. Can’t imagine how long it will take for bonus payout

Bankerman
Bankerman

P1 and P2 disputed the charges with credit card today. I went to a branch in Teaneck and they didn’t even know what I was talking about when I showed them the email to show proof of address. This bank is ridiculous.

Lucky
Lucky

Applied on 12/23. Finally received an email today, 1/20, saying that my account is opened. Funded with disco miles which counted as purchase. Hope for the best.

RXSAMG
RXSAMG

I opened 12/22 & got two emails today. Still no specifics for access, are you able to access online?

Kenny Shaw
Kenny Shaw

It’s been almost a month so i called them for a THIRD time. They said to hang tight and they can’t refund me supposedly because the payment isn’t processed in house for the initial deposit. This is ridiculous.