[NY only] People’s United Bank $175 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $175
  • Availability: People’s United branches inside Stop & Shop’s, located in the following states: NY only
  • Direct deposit required: Yes, $250+
  • Additional requirements: 10 debit card transactions of at least $25 each
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Six months, bonus forfeit
  • Household limit: One
  • Expiration date: December 15th, 2017

The Offer

No direct link, offer is available in Stop & Shop branches only.

  • Open a new People’s United personal checking account and receive a bonus of $175 when you meet the following requirements within the first 60 days of account opening.
    • Receive a recurring direct deposit of at least $250
    • Have at least 10 debit card purchases of at least $25 each post to your account

The Fine Print

  • Direct deposit requirements are limited to payroll, social security, pension and government benefits. Paypal transactions are specifically excluded.
  • Rewards will be credited by 3/31/18 if requirements are met
  • One reward per household
  • If account is closed within 6 months of opening, they may deduct the bonus.
  • Offer is available to new checking customers only, which means any account owner cannot currently have a People’s United personal checking or have had a People’s United personal checking account within the last 180 days.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early account termination fee

This account needs to be kept open for at least six months otherwise they can take back the bonus.

Plus Checking Account

This account has no monthly fees to worry about.

Our Verdict

When this has been offered in the past the bonus was only for $100, but required no direct deposit. This bonus is an extra $75, but the direct deposit requirement will make it less attractive for some. These bonuses are typically not offered at all the stop & shop branches, so please share your own experiences in the comments below. For now I won’t be adding it to the best bonus page until we know how wide spread it is.

Big thanks to reader, @J_Turnbow who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:
    William Charles
  • On November 4, 2017, 09:30

View Comments (8)

  • I also got a targeted coupon from S&S last week at self check-out. Offer 2 x $100 S&S gift card for opening an account @ PUB with same requirement.

    • If you got the same offer I did, there's an important difference from the $175 offer. The gift card offer requires a direct deposit OR five debit card transactions. The $175 offer requires both.

  • OK, first one to comment. Just went back from S&S and account open. I guess I have to test out how DD plays out for them. No chex questions, no debit/credit card funding for initial deposit, cash only and min. $25. A temp card without name is given and the banking card with name printed will be mailed in 7-10 business days. 10 debit cards purchase of at least $25 may be the real downside on this deal, as you can always use a rewards credit card with flat cash back rate of at least 2% such as Citi Double Cash, the newly HSBC Cash rewards CC to make the purchase on $250 for cash back of $5. Because of this opportunity cost I have to deduct $5 from the overall bonus. Also, 10 debit card purchases with $25 each is harder to make than that from North Pointe Bank or Consumer Credit Union. I don't know whether loading BB/Serve will work. And while in branch, I didn't ask whether they'd do manual review on your DD or debit card purchases because I don't want to draw their attention to my account/activities. Paypal is for sure excluded, however we never know if other apps such as Cash, Circle, Venmo, Chime would work or not. We do not have DP from the past so makes this hard to know as what, besides real payroll and normal purchases, will trigger the bonus. I personally don't think they would have $176 bonus for their 176th anniversary next year so sounds like you would really have to use real payroll and debit card on regular purchases for the bonus.

    Also, they have 5 types of CC offers: 1 MC no rewards, 1 MC with $25 sign-up bonus on 1% reward, 1 MC with $50 sign-up bonus on 1.5% reward, 1 AE with 3% grocery purchase limit $6K/year, 1 AE with 3% on travel but with AF.

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