Posted by William Charles on May 12, 2018
Bank Account Bonuses

Published on May 12th, 2018 | by William Charles

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[NY, Cayuga county] Lyons National Bank $175 Checking Bonus + 3% APY Savings Account

Offer at a glance

The Offer

Direct link to offer

  • Lyons National Bank is offering a bonus of $175 when you open a new personal checking account with direct deposit of your full paycheck from your employer, pension, or government benefits. This offer is available at their Cayuga county offices only.
  • They are also offering a 3% APY savings accounts (minimum balance of $5,000 and maximum of $350,000). You must be a resident of  Cayuga or Onondaga County and open or have an active personal checking account with direct deposit of your full paycheck from your employer, pension, or government benefits. eStatements is also required

The Fine Print

  • Offer is available to new LNB checking account customers. Receive $175 when you open a personal checking account with direct deposit of your full paycheck from your employer, pension, or government benefits during the promotion period at our Cayuga county offices ONLY.
  • Cash will be credited to the checking account within 30 days after qualification is met as long as the account is in good standing.
  • Offer is subject to change without notice.
  • Gift is reportable for tax purposes.Primary account holder will receive a Form 1099-INT.

Avoiding Fees

They offer a free checking account with no monthly fees to worry about. I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

They have offered the same bonus in Auburn, NY before.  Given that’s a soft pull, it will be worth it for some people to sign up. Just keep in mind it does state that the direct deposit needs to be your full paycheck and this is sometimes actually checked with these smaller branch bonuses. We’ve added this to the highly regional specific section of the best bank bonus page.

Hat tip to Maximizing Money

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Will report back. I live close by!

I’m not in the geo but I’m just curious how do they verify that you deposited your full paycheck?

Chexsystems – Yes
Hard/Soft Pull – No Pulls at all
Early Termination on Checking (for bonus) – close within 6 months, they charge $30.
On the full direct deposit, they said they weren’t totally clear. More of a ‘reasonable’ amount depending on a job. If they see $100 as the ‘full amount’ its probably a no go.

Forgot to add, they are planning on dropping the 3% to 2.5 or 2% or lower in about 8-12 months or less. Can change anytime.

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