Deal has expired, view more bank account bonuses by clicking here.
Update 7/20/19: According to reader K.F. the bonus is back, might just be $400 this time.
Update 2/4/19: Deal has been pulled and is no longer being offered.
Update 2/3/19: Seems to be available at all branches, although some branches are offering $400 instead of $500. Also confirmed soft pull. Looks like it’s also possible to open if you live out of state and go in branch.
Offer at a glance
- Maximum bonus amount:Â $500
- Availability:Â Seems to be available at all branches according to the comments
- Direct deposit required:Â Yes, no minimum specified
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems: Yes, not sensitive (one denial with 30 accounts in last 12 months though)
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee: One year, bonus forfeit
- Household limit:Â One
- Expiration date:Â
April 1st, 2019August 30th, 2019
Contents
The Offer
No direct link, offered in branch
- First National Bank of Long Island is offering a bonus of $500 when you:
- Open a new First Class, Regular or Free Checking account
- Sign up and receive a direct deposit ($500 minimum per month for 6 months)
- Make 5 point of sale debit card transactions per month
- Sign up for online banking or a debit card with uChoose Rewards
The Fine Print
- Direct deposit must be a paycheck, pension or government benefit
- New accounts only
- Existing customers with a First National Bank of Long Island account opened prior to 01/07/2019 are not eligible
- One bonus per household
- Bonus will be credit within 30 days from requirements being met
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Free checking account has no monthly fees to worry about
Early Account Termination Fee
Account must be kept open for at least one year
Our Verdict
Seems like a great bonus and worth doing if you live in NY and semi near a branch. Will be interesting to see how strict they are with the direct deposit requirement. I’ve added this to our list of the best bank account bonuses.
Seems like a great bonus if it’s a soft pull to open the account, you should be able to ask in branch before opening. If anybody goes for it then please share your experiences in the comments below.
Big thanks to reader, Gerald 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
