- Maximum bonus amount: $100 to you and the person who referred you
- Availability: OH, WV or KY only. Also must be a hero, see more below.
- Direct deposit required: No minimum specified
- Additional requirements: eStatements (+$25), 10 debit card transactions (+$25), two bill payments (+$25)
- Hard/soft pull: Unknown
- Credit card funding: None
- Monthly fees: $5, avoidable
- Early account termination fee: Unknown
- Expiration date: September 2nd, 2016
The Offer
- Receive a sign up bonus of $100 when you open a new checking account and complete the following requirements within 60 days of account opening:
- Qualify as a hero (see below)
- Pay two bills using their bill pay service (this earns you $50)
- Receive at least one direct deposit (this also earns you $50)
Hometown Heroes
You have to be a ‘hero’ to be eligible. The following are considered heroes by Peoples Bank:
- Active U.S. military service members and veterans
- Current and retired law enforcement
- Firefighters
- Emergency Medical Technicians
- Teachers in our communities
The Fine Print
- Your account may be eligible for a $50 bonus after your first payroll direct deposit.
- Additionally, your account may be eligible for a $50 bonus after paying a minimum of two bills through bill pay service.
- Cash bonus offers valid for qualified customers opening a new account only.
- One offer per customer.
- Bill Pay offer valid for 60 days from account opening. Must pay a minimum of two bills within 60 days of opening a new qualified account.
- Direct Deposit offer valid for 60 days from account opening.
- Cash bonus will be paid within 60 days of qualifying service.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
If you open the Peoples checking account there is no monthly fee if you set up a direct deposit or make at least five debit card transactions per month. Otherwise a $5 fee is charged. I can’t find the fee schedule, so I’m unsure if an early account termination fee is charged or not.
Our Verdict
Pretty limited bonus and probably not worth doing considering the requirements and also the requirements to keep the account fee free. I’d recommend one of these bonuses instead.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- 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
