[PA only] Reliance Bank $200 Checking Promotion ($150 Without Direct Deposit)

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must reside in one of the following counties in PA: Bedford, Blair, Cambria, Centre, Clearfield, Clinton, Huntington, Indiana, Miffin and Somerset
• Direct deposit required: Optional, $25 minimum (+$50)
• Additional requirements: eStatements (+$50), Bill Pay (+$50)
• Hard/soft pull: Unknown
• Credit card funding: None
• Monthly fees: $8, waivable
• Early account termination fee: $30, 90 days
• Expiration date: None listed

The Offer

Direct link to offer

• Open a new Reliance Bank Reward, Traditions or Mutual Club checking account and receive a sign up bonus of up to $200, earn $50 for each of these actions:
  • Open an account
  • Use direct deposit (minimum of $25), direct deposit must be received within 90 calendar days of account opening
  • Enroll in eStatements within 60 days of account opening
  • Sign up for Bill Pay and pay 3 bills via Reliance Bank online banking within 90 days of account opening

The Fine Print

• Promotional bonus offer is for new Reward, Traditions and Mutual Club checking account customers only.
• Bonuses are limited to one account per customer, per Tax Identification Number.
• The minimum balance required to open an account and earn bonuses is $50. This offer is subject to change without notice. Bonuses to be paid as detailed below
  • $50 bonus will be credited to your account by opening an online account at www.RelianceBank.com or an account at a Reliance Bank branch location. The bonus will be paid to your account by the last day of the statement cycle in which your account was opened
  • $50 bonus will be credited to your account when you arrange for a minimum $25 direct deposit to your account (bonus will be paid to your account by the last day of the statement cycle in which the first direct deposit transaction is credited). Direct deposit transaction must be credited to your account within 90 calendar days of account opening to be eligible for the bonus
  • $50 bonus will be credited to your account when you enroll in and confirm online eStatements within 60 calendar days of account opening. The bonus will be paid to your account by the last day of the statement cycle following the 60th calendar day after your account has been opened and eStatements confirmed.
  • $50 bonus will be credited to your account if you sign up online for bill pay and pay 3 bills via Reliance Bank online banking and bill pay system within 90 calendar days of account opening. The bonus will be paid to your account by the last day of the statement cycle in which the 3rd bill pay transaction has cleared your account
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Reward Checking $8 Monthly Fee

It seems like rewards checking is the only account that you can open to get the bonus (can’t find Traditions or Mutual Club). You need to main either:

• $1,000 aggregate deposit balance or
• $25,000 aggregate loan balance (combined balance of all your deposit OR loan accounts with Reliance Bank)

Otherwise there is an $8 dollar monthly fee.

Early Account Termination Fee

There is a $30 early account termination fee that is charged if you close the account within 90 days.

Our Verdict

Hard to judge without knowing if it’s a hard or soft pull, but if it’s a soft pull it’s definitely a good bonus . If you know either it’s a soft or hard pull then please let us know in the comments before. If you haven’t checked already I’d strongly recommend you have a look at our list of recommended deposit account sign up bonuses (for both personal & businesses).

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