Posted by William Charles on August 3, 2019
Bank Account Bonuses no image

Published on August 3rd, 2019 | by William Charles

11

[Northeastern PA only] Fidelity Bank $400 Checking

Offer at a glance

The Offer

Direct link to offer

  • Fidelity Bank is offering a bonus of $400 when you open a new checking account and complete the following requirements within 150 days of account opening:
    • Set up your account with direct deposits or recurring credits of $2,500 per month for three consecutive months

The Fine Print

  • Offer valid for new personal checking account customers only.
  • A $400.00 deposit will be made into your Fidelity Bank checking account when direct deposits or recurring credits of $2,500.00 per month are received for a minimum of three (3) consecutive months.
  • Requirement must be satisfied within one hundred and fifty (150) calendar days of account opening.
  • Deposit will be made on the first (1st) business day after one hundred and fifty (150) calendar days from account opening.
  • Minimum deposit to open a checking account may range between $25.00 and $1,000.00, minimum balance requirements and monthly service charges depend on which checking account is chosen.
  • Please consult your Fidelity Banker for specific product information. Minimum balance requirements and fees may reduce earnings.
  • The annual percentage yield (APY) for Performance Checking or Platinum Checking accounts is 0.05% if balance requirement of $2,500.00 is met. APY is current as of May 20, 2019 and may be rescinded or changed at any time.
  • Rates are variable and may change at any time.
  • Bonus will be reported on IRS Form 1099-Misc.
  • Cannot be combined with any other offer.
  • Customers may only receive one new checking account and savings account opening-related bonus per calendar year.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Reliance Checking $7 Monthly Fee

This account is the easiest to keep fee free, the $7 monthly charged is waived if you do any of the following:

  • $1500 average daily balance OR
  • $400 aggregated monthly direct deposit
  • or ten (10) signature based Fidelity Visa® Check Card transactions

Early Account Termination Fee

There is a fee if closed within 180 days, but I’m unsure what this fee is.

Our Verdict

Previous best bonus was $200, that required a savings account but lower direct deposit/recurring credit. This new bonus is significantly better because the bonus is $400 and the direct deposit/recurring credit isn’t that difficult to meet. Because of that we will be adding this to our list of the best bank bonuses.

Hat tip to reader Jeff L

Useful posts regarding bank bonuses:



11
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Geo
Geo

To be clear, note that this is not the Fidelity Investments checking account that everyone praises for global ATM reimbursements. This is a different institution.

And also not related to the Fidelity Rewards 2% casback Visa from Elan.

Betelgeuse
Betelgeuse

They will send 1099-Misc for the bonus instead of 1099-Int?

Trevor
Trevor

Good catch and good question. Misc would mean only reported if it’s $600+, right?

Mike
Mike

No, it could still be reported. A while ago Cap1 had the checking bonus and for some odd reason they put just that portion on the MISC.

Betelgeuse
Betelgeuse

They can report for any amount but I think you pay social security tax for 1099-Misc.

IS250
IS250

Anyone know Chex sensitivity in-branch? Might be passing through the area soon.

marvin
marvin

Hi IS250,
I always find your comments/info very helpful. I have a couple questions/comments I would like to write more about with you directly. If you would do me the favor, can you send your email to mine? Mine is inwoodrailroad@hotmail.com. Thanks much, and happy hunting!
Marvin

IS250
IS250

Thank you. You can reach me at rahulvidya11101 at gmail dot com

marvin
marvin

Thanks much!! Will be in touch soon.

Joe
Joe

I live in central NJ, not too far away from their branches.
Can I qualify for this bonus?
If yes, I can apply online or must do it in the branches?
Thank you very much!

slut
slut

Existing datapoints say no

Back to Top ↑