[NY only] Republic Bank $175 Bonus – No Requirements For Bonus (TD Bank Debit Card Or Dog Required Though)
Update 9/4/19: Bonus is actually $100. I believe $75 is the standard opening bonus that everybody is eligible and then you get an additional $100 through this bonus. Hat tip to reader Natalie K
Update 8/26/19: According to reader @JordanMuchnik the promotion is back.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Offer only valid for accounts opened in the state of New York.
- Direct deposit required: None
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
No direct link, being advertised in branch
- Republic Bank is offering a bonus of $100 when you open a new checking account. To be eligible you either need to bring in a TD bank debit card or your dog (lol?). To be eligible for the bonus you need to meet the following requirements:
- Have a minimum opening deposit of $250
The Fine Print
- Bonus will be directly deposited into your account within 30 days of account opening
- Limit 1 per customer
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees
Early Account Termination Fee
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
Requirements for opening are weird, but there are no requirements for the bonus so that’s a nice plus. Because it’s a soft pull we will be adding this to our list of the best bank account bonuses.
Hat tip to reader Firefly and Natalie K
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
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Very interesting requirement for sure. Firefly mentioned in the best bank bonuses page that the bonus posted the following morning so it seems like a great bonus to do if you are in NY, as long as it’s not a hard pull.
I see you already have a dog.
I am not in NY and don’t have a dog so I am out of luck.
Not a hard pull.
Looks like only 1 location in nyc…
Which one? Never mind, found it: 14th St & 5th Ave
Let us know about that one – will probably head there this week…
Yes, the branch opened in July. Otherwise, their only branches are in Pennsylvania and South NJ.
I’m waiting for some enterprising person to stand outside the bank offering a dog for rent.
There was actually a beggar outside the branch with a dog today, he wasn’t that enterprising though.
It means TD=dog.
That’s the way to trash somebody in some areas or countries.
When a sign says xxx or dog, it exactly says xxx=dog.
Not sure what happened between Republic and TD, but definitely personal.
Thanks for the explaining. Now I want to read more on their beef.
Think this might answer your curiosity:
https://www.inquirer.com/philly/blogs/inq-phillydeals/Vernon-Hill-Red-is-Back-Republic-Bank-vs-TD.html
Huh, interesting. I took it as they wanted to approach people with a dog/pet friendly bank image.
TD Bank offers dog treats. I assumed Republic Bank is trying to compete with them. They also beat them on the longest hours.
Vernon Hill, the chairman of Republic and founder of Commerce bank (which was bought by TD), is a huge pet lover having even started a pet insurance company. He’s been well known for this in the region.
The dog = TD is completely wrong, but it was definitely a jab at TD.
Dh and I were long time (20+ years) customers at Commerce Bank (red font/theme), which we loved, before it was taken over by TD (green font/theme). They tried to hold onto some of Commerce customer’s most favorite features such as convenient hours and dog treats (similar to lollipops for kids). After that TD just kept getting worse, though still growing like crazy, but adding more fees & reducing hours. Boo!
Then a few years ago, Commerce founder Vernon Hill started up Republic using the same strategy he used to grow Commerce. Yay! He stuck with the red font again and makes a little jab at TD such as “The Power of Red is Back!” and “Love Your Bank Again!”. His wife does the interior design of the branches.
Dh has always been fascinated with Vernon Hill’s life story/philosophies and we did truly love Commerce so as soon as he found out we could bank with VH again, we switched and never looked back. I think I read somewhere that there are laws against selling your bank and immediately starting new competition so this is why he had to wait several years to start up again.
When we switched to Republic around 3-4 years ago there were about 4 branches and in that short time, they added around 50 more. It’s growing like wild fire in South Jersey & Philly.
I guess my “little local bank” is not so little anymore but we really do love our bank again.
Not surprised at this jab at all. I thought it was rather amusing that they occupied the very same location (which ironically was a former Commerce Bank location) that TD recently vacated in favor of a storefront next door.
TD bought Commerce Bancorp in 2007 shortly after the founder of Commerce resigned (he was embroiled in a business scandal, which basically earned him the ire of regulators and some of the bank’s board of directors).
Many of the executives behind Republic Bank are the same people behind Commerce Bancorp. The corporate colors, branch designs, account offerings, etc. are pretty much nods to Commerce.
Can non-NY resident passing through apply in branch?
I bank with the First Republic, and the bank is terrific. Worldwide ATM fees are free if I maintain $3,500. The interest rate is low, but it is a private banking service, unlike any other brick and mortar bank without high minimums.
Over a decade ago Republic Bank had no minimum requirement at all to get ATM rebates. Made it worth thet rip into NYC for me! Then they estblashed a minimum like all the rest. Great if you’v got extra cash laying around, which I didn’t at the time. What a rip.
No ATM fees. The banker said so and it’s listed in the personal banking pamphlet.
No ATM fees, regardless of balance. Foreign ATM fees are reimbursed. But there is a footnote about potential international ATM fees. Maybe NYC branch has its own rules.
Are you sure Foreign ATM fees reimbursed. The banker told me only ATMs in the US are but it also seemed like she was new because she needed a lot of help to open my account.
I meant foreign ATMs as ATMs that don’t belong to Republic Bank’s network. I think ATMs outside US aren’t free based on the footnote in the pamphlet.
First Republic is a different bank. This is just Republic.
This is not First Republic.
Well, this is one major reason not to shred the old debit cards, lol!
Punching the air bc I shredded after I got the $300 churn from TD
Same and not even long ago…time to borrow my neighbor’s dog.
So true!
True! I keep mine and it really came in handy for this.
You also get a safe deposit box free for 1 year.
Same as TD
Good to know. Any other banks offering free safe deposit boxes? My mom’s paying for it at hsbc. And she signed up for their checking without a bonus. Darn
The New York Times ran an article recently that exposed safe deposit boxes as not being safe.
So TD also offers safe deposit box free for first year? All branches do this?
Planning on signing up for a checking account and getting a safe deposit box. So if it’s free for the first year at TD, that’s great!
I think they offering 1st year free but very few branches still have safe deposit boxes these days.
DP – went in just now with an old TD debit card and they did not allow people with out of state mailing addresses (CT) from opening up the account. I called ahead and customer service told me out of state DL would be fine though, so it might be YMMV.
I wonder if that means out of state where they have no branches or out of state completely.
They have NJ branches so wondering if NJ residents can apply in this NY branch for the bonus.
I asked if I could use my PA address (I have an old address there with forwarding) since they have branches in PA and they said has to be NY mailing address.
Thanks
Did you tell them you work in the city?
Opened the free checking on 8/11 (Sunday) using old TD debit card with $250 cash deposit at time of opening. Two days has passed (now Tuesday as of this post) and still have not received the $100 bonus. Not as fast as the OP seems to have experienced with their bonus posting the next day. Did something change?
Any other DPs on when the bonus is received?
Update on my case: bonus wasn’t seen this morning but can be seen this afternoon!
Recap: applied 8/11, bonus received 8/13.
Do they take your debit card or do you just have to show it? I lost my old TD card and had to get a new one on Saturday so it will be annoying if I have to get another TD card again.
You just show it to them. In fact I forgot to bring my TD card but they still let me open an account because I was able to login to my TD account my phone.
Just opened account with promo at Manhattan location. I was told that today is the last day for this promo at this branch due to high demand and they were removing the branch advertising while I was there. Possible though other branches are continuing the promo.
I think it’s only at the NYC branch due to them opening it a few weeks ago. They’ll probably bring back the bonus, if the branch turns into a ghost town again.
Anyone have a dog I could borrow?
That’s what I was wondering. That or maybe I could borrow someone’s TD Bank card for a minute.
Found out the promo was ending today, so I went into the Manhattan branch and opened an account. By the time I arrived, the promo advertising materials were nowhere to be seen. But I confirmed the promo was still in effect and showed my TD Bank debit card.
What’s interesting is that the banker who set up much account told me that I’d receive the $100 bonus for the promo PLUS $75 for simply opening a new account (a standard bonus offer?), for a total of $175. I’d like to say “Funding secured,” but I guess we’ll see!
who set up my account*
That’s great! I only got the $100 bonus. Maybe they’ll make that $75 bonus standard, given that the $100 bonus is ending.
Update: I’ve got the $175!
Can I borrow a dog?