Published on December 15th, 2018 | by William Charles49
[NY & NJ In branch Only] Investor Bank $250 Checking Bonus
Update 12/14/18: Deal is back and valid until 3/31/19. Hat tip to IS250
Deal is back, but it’s no longer being advertised online. Hat tip to reader Mark.
Offer at a glance
- Maximum bonus amount: $250, $25 per month
- Availability: In branch only [Branch locator]. All branches are in NJ & NY
- Direct deposit required: Optional
- Additional requirements: 10 debit card purchases or direct deposit of $500 each month
- Hard/soft pull: Soft pull
- ChexSystems: Unknown. Not sensitive
- Credit card funding: None
- Monthly fees: Unknown
- Early account termination fee: Unknown
- Household limit: None
- Expiration date:
May 31st, 2018 August 31st, 2018 September 30th, 2018March 31st, 2019
- Investors Bank is offering a bonus of up to $250 when you open a new YourStyle checking account. You receive $25 per month for 10 months, you must complete the following requirements each month:
- Receive a direct deposit of $500 OR more during your statement cycle or complete 10 point of sale transactions due your statement cycle
- Account also comes with cell phone insurance and identity theft protection
The Fine Print
- New Money is defined as money not on deposit at Investors Bank after 9/1/2017
- Open a new YourStyle® Checking Account before 9/30/2018
- Offer not available to any account owner with an existing personal checking account.
- Bonus is up to $250, $25 per month for 10 months.
- Reward payments will cease at the earlier of reaching $250 total or 11 consecutive cycles from the date you opened your account.
- To be eligible to receive monthly bonus you must satisfy the following transaction activity requirements: have an ACH deposit to your account of $500 or more during your statement cycle; OR, complete 10 Point-of-Sale (POS) transactions during your statement cycle, using your YourStyle® Visa Debit Card linked to your account.
- The bonus is considered interest and will be reported on IRS Form 1099-INT. Consult your Tax Advisor.
It isn’t clear what the monthly fee on this account is, but it can be waived if you do any of the following:
- Receive a direct deposit of $500 or more each statement cycle
- Maintain a monthly average balance of at least $1,000
- Make at least 10 point-of-sale transactions with your Visa® Debit Card
Given that the direct deposit or debit card transactions are required for the bonus this shouldn’t be an issue for most people.
Early Account Termination Fee
I was unable to find any fee schedule so I’m unsure if there is any early account termination fee or not.
Really hate bank bonuses that are spread over multiple months like this. The upside is that you can do it without a direct deposit, but 10 point of sale transactions monthly is still a real pain. I guess self check out one item at a time is an option, but still annoying. I’ll be adding this to our best checking bonus list but lower than it normally would be due to the 10 month requirements.
Big thanks to reader, Ilya Uts 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