Posted by William Charles on May 26, 2016
Bank Account Bonuses

Published on May 26th, 2016 | by William Charles

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[Expired][OH, PA only] Dollar Bank $150 Checking Bonus In Branch

This offer has expired, you can view more bank account bonuses here.

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: OH, PA, also must live within 100 miles of a branch & apply in branch. [Branch locator here]
  • Direct deposit required: Yes, $250+
  • Additional requirements: Keep account open for one year
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: $5, waivable 
  • Early account termination fee: Need to keep account open for one year to get full bonus, but $25/180 EATF otherwise.
  • Expiration date: December 31st, 2016

The Offer

Direct link to offer

  • Open an Everything Checking account with Dollar bank and receive a $150 sign up bonus, bonus is broken down as follows:
    • add payroll direct deposit ($250+ and a debit MasterCard® and $100 in purchases is on us
    • Receive an additional $50 when your account has been open for one year

dollar bank

 

The Fine Print

  • Offer for Workplace Banking participants and new checking customers only and is non-transferable
  • To receive $100 rebate, checking account must be opened by 12/31/16, coupon must be presented at account opening, account must receive cumulative payroll direct deposits of $250 or more within 60 days ofaccount opening, and account must be in good standing
  • $100 debit card rebate will be added to the new checking account within 45 days of the qualifying cumulative payroll direct deposits; rebate will be credited for Dollar Bank Debit MasterCard purchases made via signature (not PIN)
  • Additional $50 credit will be applied within 2 months of the 1-year anniversary of account opening provided account qualified for the
    debit card rebate, is active, in good standing and in a qualifying plan
  • Maximum amount is $150 per account and one per household
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The Everything checking account has a $5 monthly fee, it’s waived if either of the following conditions is met:

  • Six transactions post to the account (ACH debits count, so you could pull money from this account to another bank)
  • You have an average checking balance of $2,500 or more

Referral Bonus

For every friend you refer you can earn a $25 bonus, person being referred won’t receive anything. Apparently this is stackable, but YMMV. Feel free to share your referrals in the comments.

Our Verdict

Bit annoying to get the full bonus because you’ll need to keep the account fee free for about 14-15 months to get the full bonus. If you put $2,500 into a 1% account you’d be losing out on ~$31.25 in interest ($156.25 if in a 5% account), you might be better just purchasing 6 amazon gift cards for $0.50 every month or setting up an ACH debit six times a month.

It’s probably worth doing if you’ve completed the better bonuses available and you live in the target area. They also offered basically the same $150 bonus previously, so looks to be an on going offer.

Useful posts regarding bank bonuses:



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andrew
andrew

This has been changed to $200 https://www.dollar.bank/200 and I think you can open online

Phong Chau

So a real job deposit only? A deposit from selling on Amazon wouldn’t work?

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