Update 2/10/24: Extended until 4/30/24
Update 1/1/24: Extended until 1/31/2024
Update 11/19/23: Extended until 12/31/23.
Update 11/13/23: Extended until 11/18/23.
Update 9/11/23: Extended until 10/31/23.
Update 6/5/23: Extended until 8/31/23.
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:Â $300
- Availability:Â OH, VA & PA
- Direct deposit required:Â Yes, $5,000+
- Additional requirements:Â See below
- Hard/soft pull:Â Soft
- ChexSystems: Unknown
- Credit card funding:Â None
- Monthly fees:Â $5, avoidable
- Early account termination fee:Â Need to keep account open for one year to get full bonus
- Household limit:Â One
- Expiration date:Â
March 31st, 2020July 31st, 2020September 30, 2020December 31, 2020 March 31, 2021April 30, 2021
Contents
The Offer
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
Avoiding Fees
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.
Our Verdict
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. There is also a $400 bonus for military members.
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
Post history:
- 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
Applied with chex frozen, called and told I would need to come in branch (3 hour drive, in footprint). Will attempt CFPB complaint.
$400 offer for military. Expires 12/31/24.
“Must be an active military member or veteran and a new checking customer to qualify.”
https://dollar.bank/personal/banking/military-banking
Unlike the $300 public offer, this line is not present in the military offer: “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.” Not sure if that’s an oversight or intentional.
William Charles
Per the flier I found, the promo code is MIL24.
https://dollar.bank/getmedia/1eab04c2-8b54-4f93-8434-e9f786d3b53e/(13)-Everything-Checking-Flier_Military-Banking.pdf
I’ll add it as a note to the verdict section
Extended to 4/30/24… William Charles
Negative datapoint regarding this bonus:
9/30 – opened the account with the bonus code
Nov+Dec – several deposits $2500+, coding as DIR (only Charles Schwab as DEP)
— Wells Fargo – DIR
— Charles Schwab – DEP
— Wise – DIR
Dec – $4 Amazon charge and $4 charity charge
Still no refund of the transactions.
Considering if I should try contacting Dollarbank…
Extended to 1/31/2024
Applied online, approved and they took my initial deposit. Couldn’t create an online account for a few days so I called and they said one of my security questions was wrong and would have to go into a branch. None within 50 miles. Account closed. It’s shocking how bad some of these banks are. It’s 2023. I haven’t gone into a bank in many many years and I’m definitely not going into your bank.
too complicated for this homey. pass.
Per the Dollar bank website:
*To qualify for the offer ($300) an Everything Checking account must be opened by 11/18/23.
Link: https://dollar.bank/300-checking
Follow up DP:
11/1 $100 year long bonus posted
account was opened on 3/4/2022. The first $200 rebate has been received after debit card purchase. However, the $100 anniversary bonus still has not been posted yet. Will the $100 be credited to the account as bonus, or as rebate after debit card purchase?
I faxed the letter to close the account. It has been a week and it still hasn’t been closed.
How long after your DD did you start receiving $200 rebate?