[Expired] [PA & NJ only] Beneficial Bank $100 Referral Bonus For Both Parties – Direct Deposit Not Required

This offer has expired, click here for the best new checking bonuses.

Offer at a glance

• Maximum bonus amount: $100 for both parties
• Availability: In branch only, all branches are in PA & NJ [Branch locator]
• Direct deposit required: Optional
• Additional requirements: 10 debit card transactions or direct deposit
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees:
• Early account termination fee:
• Household limit: None listed
• Expiration date: December 30, 2017

The Offer

Direct link to offer

• Beneficial Bank is offering a $100 bonus when you refer a friend and they open an account. The person being referred will also receive a $100 bonus when they complete ONE of the following requirements:
  • Receive a direct deposit of at least $250 OR
  • Complete 10 debit card purchases (PIN or signature)

 

The Fine Print

• Promotional reward of $100 eligible for accounts opened in a branch August 1 – December 30, 2017.
• Referring customer must be a current Beneficial Bank personal checking, savings or money market customer.  Only one $100 bonus will be provided per referred customer regardless of the number of checking accounts opened.
• To qualify for the $100 reward the new customer must open a new consumer checking account. Beneficial Bank requires a direct deposit of at least $250 or 10 debit card purchases (PIN or signature) within the first 60 days of account opening to qualify for the $100 reward.
• Offer not available on existing accounts or in combination with any other offer. Completed form must be presented to a branch employee at the time of account opening.
• Accounts opened through thebeneficial.com are not eligible.
• New customer account must remain open for 90 days for the referral rewards to be granted to new and referring customers.
• The $100 reward will be deposited into the new customer account 90-120 days after the initial deposit and is not considered part of the minimum opening deposit. Referring customer account will be credited with $100 reward 90-120 days after new customer account has been opened.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

They offer a free checking account with no monthly fees. I wasn’t able to find a fee schedule so I’m unsure if any early account termination fee is charged or not.

Our Verdict

If anybody is able to refer other readers please share your details in the comments along with any datapoints you have regarding the bank (e.g soft/hard pull). For now it won’t be added to the best bank bonuses due to the unknowns and the fact we don’t have anybody that is able to provide referrals.

Hat tip to DDG

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