Update 6/11/18: $500 offer is no longer available online. Looks like the $200 bonus is still being offered though. Readers note that $500 offer is still available in-branch.
Offer at a glance
- Maximum bonus amount: $500
- Availability: Must live or work in the State of New Jersey (account can be opened online)
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Bill Payment
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Account must be open at time of bonus posting
- Household limit: None listed
- Expiration date: None listed
Open a new Columbia Bank Yield Plus Checking and receive up to $500 in bonuses, as follows:
- $200 just for opening the account
- $200 for receiving a qualifying direct deposit within 60 days of account opening
- $100 for making a bill payment within 60 days of account opening
The high-yield interest isn’t interesting since there are lots of accounts with better rates and without the required minimums.
The Fine Print
- This offer applies to new consumer accounts only. New money only.
- If you open a new Yield Plus Checking account with funds that are not already on deposit with Columbia Bank, you will receive a $200 cash credit to your Yield Plus checking account within 100 days from account opening. You are permitted to receive only one account opening cash bonus irrespective of the number of accounts you open.
- You will receive a $200 cash credit to your Yield Plus checking account after we have seen that a qualifying direct deposit transaction has been posted to your Yield Plus account within 60 days after the date you opened the account. Only one $200 credit will be made in total for qualifying direct deposit activity to this account within the first 60 days of account opening. You are permitted to receive only one of these bonuses irrespective of the number of accounts you open.
- You will receive a $100 cash credit to your Yield Plus checking account after we have seen that a Columbia Bank online bill payment transaction was debited from your Yield Plus checking account. The debit has to occur within 60 days after the date you opened the account. Only one $100 credit will be made in total for the Columbia Bank online banking bill payment activity. You are permitted to receive only one of these bonuses irrespective of the number of accounts you open.
- To receive any of the aforementioned bonuses, the account must still be open at the time we are ready to credit the funds and at all times the account was in good standing.
- The cash bonuses will be reported as interest to the IRS on form 1099-INT.
There is no monthly fees on this account.
No early termination fee is mentioned either, thought the account must be open at the time of bonus posting.
They’ve had a $200 bonus on their Advantage Plus Checking for quite some time. This $500 deal way better and is even easier to do since the Yield Plus Checking does not have the $500 minimum to keep fee-free. If you did the previous deal, you might be able to do this deal as well if your previous account is closed.
As far as I can tell, all you have to do here is:
- Open the account with $1 – this gets you $200 (might as well open with $500 for the credit card funding)
- Do one bill pay of any amount – this gets you an additional $100
- Get one direct deposit post of any amount posted to the account – this gets you an additional $200
Seems like most bank ACH’s have worked to trigger the direct deposit requirement, and the PDF sounds like that as well. You can get $300 even without any direct deposit.
Anyone from New Jersey can open an account online. Might be possible to do this deal from out of state by going in branch.
Oddly, this page shows it as a $300 bonus. I guess they aren’t counting the $200 direct deposit bonus there. The $500 bonus is mentioned clearly on the home page, the landing page, as well as on this PDF. There’s no promo code or anything; apparently, it just gets attached automatically to any Yield Plus account opened.
Deal looks too good to be true, to be honest, I feel like I’m missing something. We’ll add this to our state-specific best checking promotions list as it’s probably the best checking deal of all time if it works as advertised.
Hat tip to reader Harry
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
Do any of you have a print screen showing the terms of this 2018 offer? I am most interested in the section that shows “You are permitted to receive only one of these bonuses irrespective of the number of accounts you open.”
Still waiting on the $200 opening bonus. Applied on 6/6, opened on 6/11. Went to the branch to sign signature form and was told I’d get a call back about the opening bonus. I guess we’ll see. Hopefully they don’t try to tell me the bonus expired before my account was opened, which happened with another bank.
Finally got the $200 opening bonus yesterday, 141 days after my application was approved.
Opened in NJ Paramus branch for myself and my wife 6/9 with $20 cash.
BP $1 to Amex CC 6/13
Chase ACH $15 on 6/14, $15 on 6/29
6/30 BP $100 bonus posted
6/30 DD $200 bonus posted
9/21 $200 new account bonus posted
Haven’t received opening bonus. Anything suggested to do now?
Received the final $200 today. Day 125. Late but complete
Bill payment sent 6/13; bonus received 6/30
Direct Deposit from Capital One 6/14; bonus received 6/30
Account opening bonus posted 9/19.
Opened my account June 11. Still missing opening bonus and bill pay. Started to worry I won’t get it. It’s been over 100 days now.
Did you ever get your opening bonus? I opened my account two days after you did and haven’t received mine yet.
+1 Same timeframe as you two. I’m gonna call next week I guess. I’m not particularly close to any branches.
Any luck? I am at 110 days without the opening bonus
Still waiting. I did get a call last week from my local branch asking me to come in and sign a signature card. I’ll inquire about the bonus when I do, but my guess is that is that is the reason I haven’t received it yet.
I finally got the rest of my bonus posted on Fri. I had been missing the $200 account opening and $100 bill pay. I just waited them out…I didn’t call them. I’m at the full $500 now
Finally got the $200 opening bonus on 9/14. Opened account on 6/7
100 days exactly. They weren’t kidding…
Got account open bonus $200 two days ago — opened account in early June. $500 bonus complete!
I opened my account on June 7th, still missing my $200.
Perhaps this week? Who knows.
Still waiting for the $200 opening bonus.
Another month has gone by and I still haven’t received the $100 bill pay bonus or the $200 sign up bonus. Hopefully they come by day 100!
7/13 Robinhood deposit
7/18 Bill Pay
08/03 $200 Direct Deposit Bonus Direct / Deposit Bonus Payment
08/03 $100 Bill Payment Bonus Bill Pay / Bonus Payment
Still due the $200 account opening bonus.
Weird thing is I got a notification of a SECOND $100 Bill Payment Bonus Bill Pay, but it wasn’t in my account.