Update 3/1/23: Extended until 4/30/23.
Update 1/25/23: Deal is back and valid until 2/28/23.
Update 9/11/22: Extended through 10/31/22.
Updated 7/4/22: Extended through 8/30/22.
Update 5/2/22: Extended through 6/30/22.
Update 3/27/22: Extended until April 30th, 2022.
Offer at a glance
- Maximum bonus amount: $300
- Availability: OH, VA & PA
- Direct deposit required: Yes, $5,000+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $5, avoidable
- Early account termination fee: Need to keep account open for one year to get full bonus
- Household limit: One
- Expiration date:
March 31st, 2020 July 31st, 2020 September 30, 2020 December 31, 2020 March 31, 2021April 30, 2021
Direct link to offer : VA | OH | PA
- Dollar Bank is offering a bonus of $300 when you open a new checking account with promo code CHK22 and complete the following requirements:
- Get $200 in Mastercard debit card rebates with a total of $2,500 in direct deposits within 90 days of account opening.
- And, get $100 after your one-year anniversary of account opening.
The Fine Print
- To qualify for the offer, an Everything Checking account must be opened by 3/31/20.
- Offer is for new checking customers only.
- Those who had an open checking account within the past 180 days are not considered to be new customers and are not eligible for the offer.
- Up to $400 is available in one $100 Mastercard debit card rebate, one $200 credit, and one $100 credit. To receive the $100 Mastercard debit card rebate, the account must receive cumulative direct deposits of $1,000 or more within 90 days of account opening and the account must be in good standing.
- The $100 Mastercard debit card rebate will be added to the new checking account within 40 days of the qualifying cumulative direct deposits.
- To receive the $200 credit, the account must receive cumulative direct deposits of $5,000 or more within 90 days of account opening and the account must be in good standing.
- The $200 will be credited to the new checking account within 40 days of the qualifying cumulative direct deposits.
- The $100 credit will be applied within 2 months of the 1-year anniversary of account opening provided the account qualified for the $100 debit card rebate, is active, in good standing and is in a qualifying plan. Maximum amount is $400 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
Everything Checking Account $5 Monthly
The Everything checking account has a $5 monthly fee, it’s waived if either of the following conditions is met:
- Six payments via check, Online Banking bill payments, Telephone Banking bill payments, ACH debit, or Point of Sale transactions (both signature or PIN based) posted to the account.
- You have an average checking balance of $2,500 or more
Early Account Termination Fee
Need to keep account open for one year to get full bonus, but $25/180 EATF otherwise.
Bigger bonus we’ve seen before is $400. This is a slightly different offer, but still very much worth doing in my opinion. It’s annoying you need to keep the account open for a full year to get the full bonus. I’ll be adding this to our list of the best checking bonuses.
Hat tip to reader Derek D
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
- Update 8/9/21: Deal is back and valid until 9/30.
- Update 6/5/21: Deal is back and valid until 7/31/21.
- Update 4/24/21: $300 offers all dead, dollar.bank/ads/200-va.
- Update 4/13/21: Extended until April 30, 2021.
- Update 2/2/21: Deal is back and valid until March 31, 2021. Bonus is now only $300 instead of $400. Because of that I would recommend waiting. Hat tip to reader Gadget.
- Update 11/3/20: Extended until December 31, 2020
- Update 10/11/20: Deal available again until October 31. Hat tip to Xinqing W
- Update 8/25/20: Deal available again until August 31. Hat tip to Gadget
- Update 5/30/20: Extended until July 31st, 2020.
- Update 3/28/20: Deal has been extended until 5/30/20. Hat tip to reader Don B
Increasingly not impressed by promotions (and write-ups) that don’t factor in the value of interest lost while leaving pot of cash stashed in non-interest bearing account (in this case for a year) …. to avoid monthly fees. (lot of work to actually use the account for 12 months to avoid both — and then ETF. No thanks.
Not sure how you would value “interest lost” on an account like this when simple debits/bill pays work to avoid monthly fee. Last time I did this I kept about $10 in the account and just reloaded cash app every month. No need to keep a “pot of cash” in the account. Even if you just kept $100 in there for a year and just did debit purchases at the end of that year it would net you $100. I don’t know of any interest bearing accounts that net you that kind of return.
Deposit isn’t required to keep it fee free. If you do want to leave it there the opportunity cost is $100 at 4%.
William Charles Deal seems to be back https://dollar.bank/300-checking
10/28 applied for account online and approved
11/3 $1250 DD Cap One 360
11/10 $1250 DD Cap One 360
11/14 started POS transactions (avoid monthly fees)
11/15 POS transactions reimbursed as “ONL DEBIT CARD PURCHASE REBATE”
Does anyone know what this means? Why are they reimbursing my POS transactions? (~$30 have been reimbursed thus far)
Still waiting for $200 Bonus from promo
Reread TOS. $200 Bonus is based on POS transactions. Cap One 360 transfers still count as DD.
6/13 P2’s Acct open
6/24 $2,500 “DD” = DIR CAPITAL ONE N.A. 1510394779 BR CAPITALONE (Cap One 360 Checking)
6/28 $200 “debit purchase” = POS MC CASH APP firstname 4153753176 CA (Loaded $200 on Cash App)
crickets… no bonus as of Aug 4th – over 40 days since DD had posted
Trying another DD & debit.
8/09 $2,500 “DD” = DIR SCHWAB BROKERAGE 9005586224 BR MONEYLINK
8/12 $200 “debit purchase” = POS MC FZSOFT BR 929348 2320 NY (Online purchase of $200 GC on Fluz)
8/12 $200 Bonus Posted! ONL DEBIT CARD PURCHASE REBATE
Most likely Cash App no longer counts as a debit purchase, but there is a slight chance the DD was not satisfied by Cap One, or even less likely that the bonus just happened to post later than expected. Alana
Now comes the question of keeping the account for the additional $100 in another 10-11 months. Financially probably makes the most sense to cut ties now and open a new one in 6 months, but I fear a smaller, local-ish bank like this will hold a grudge if you churn it too often, even if not in the terms. Probably will just stick it out and churn it every two years as opposed to trying for every year. They are already denying P2’s online applications and forcing her to go to a branch as it is – this was her 3rd time opening an account with Dollar Bank. Kenny Shaw
Because I have to open in branch, I’ve been waiting out the year as well because it’s a small bank. I’m using a real DD so it’ll take some time for that to post. I’ll post my DP as soon as I get the bonus.
Because of the long timeframe given for the DD to occur (I would have time to try other options or switch to real), and fakes are readily available, I find it’s best not to mess with real DD’s. Yes, there is always that slight chance they do a clawback, but really, I can’t say I have ever seen any bank do this on a deposit account bonus. But your way is safer.
Also a factor, P2’s DD is not flexible and I often end up having to “fake it til I make it” anyway.
Just received the $100 bonus for keeping open for a year. Typically a year and a handful of days. Yeah I have feeling Dollar Bank would not look kindly on trying to churn this every 6 months or so. This is the 2nd time I’ve left open for a year and been successful with the bonus.
Any new DP’s? Per terms, takes 40 days after the DD’s are complete for the $200 rebate to post now, but is this what people are seeing?
6/13 Acct open
6/24 $2,500 “DD” = DIR CAPITAL ONE N.A. 1510394779 BR CAPITALONE
6/28 $200 “debit purchase” = POS MC CASH APP firstname 4153753176 CA
Same here. Same timeline
$200 bonus is officially overdue. Probably going to try a different source DD, and a different debit… and see what happens then. More than likely this is due to being a past customer, they botched up the promo, and I will have to whine and beg.
Extended to 8/30/22 per terms:
“To qualify for the offer, an Everything Checking account must be opened by 8/30/22. Offer is for new checking customers. Those who had an open checking account within the past 180 days are not considered to be new customers and are not eligible for the offer. … Promo Code: CM602”
William Charles Chuck Post needs an update. Promo Code: CHK22 Same promo online as on the in-branch flier. Also, I think all three states now point to one universal link. Per the branch flier: https://Dollar.Bank/300
Because of the HH limit, I will probably hold off churning for a bit until I see what happens with P2.
Not sure if Dollar Bank is taking a page out of the Truist Bank playbook, but sort of a weird DP. In footprint, a few miles from branch in VA.
P2 tried to open this online late last month. Looked to be approved – had an instant account number. $50 debit was charged to her other bank debit card for funding. She was a past customer, so she already had online access. However, the new account did not appear automatically in online banking. The old account, which closed 8 months ago was still there listed as “closed”.
The next business day she gets an email:
Thank you for your interest in opening a Dollar Bank Account. Unfortunately, we have not been able to validate all of the information which you provided and are unable to open an account for you through this office at this time. As result of this situation, it will be necessary for you to visit a Dollar Bank branch.
I assumed they would just cancel the application, and refund the $50 funding. After a week, sent an email asking how the funding would be refunded. No response after another week.
Now two weeks have gone by… I send P2 to a branch. They can’t resume the application but start a new application. Approved. Used the existing opening deposit. Per P2’s convo with the local banker, the online denial was due to too many Chex inquiries – not an identity issue.
So, it could be one of those occasions where the bank is more lenient for branch account openings… or, maybe two weeks from now they shut down the account. The jury is still out! I would do a Chex number count here, but the Chex website is being an ass and not producing a report… Approx 2 Chex hits per month is P2’s norm.
I had the same exact timeline as your P2 Gadget 🕵️ Bank Bonus Geek I applied and had an old account about 9 months old in my login but no new account and they took the $50 deposit. I get that same email with the same wording. I asked them, they said to go in-branch or they can give me a refund. I went in branch, they started a new application and I was approved. The local banker did not know about the Chex issue or mentioned any other issues. It seems to be open in my account as of today with the promo code attached. I am LOL/24.
You can try, but when my buddy from CA tried, he got shot down. The banker said he needed something with a local address… util bill, paystub, etc. YMMV. Feel free to find a less hardcore banker.
Extended until 6/30/22.