Posted by William Charles on February 4, 2018
Bank Account Bonuses

Published on February 4th, 2018 | by William Charles

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[Expired] [Hoboken NJ Only] Popular Community Bank Up To $500 Checking Bonus

This deal has expired, click here to see if there are any new Popular Community Bank bonuses. Or here to view the best current checking bonuses.

This offer is back, but it seems like it’s now only available at the Hoboken branch in NJ. It might be available in other branches, if anybody checks please let us know in the comments

Please note they are ChexSystems inquiry sensitive. This only seems to be the case for online applications and not in branch.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: Hoboken branch in NJ
  • Direct deposit required: For $200 bonus, yes. No minimum mentioned
  • Additional requirements: $10,000 deposited for 60 days for $300 bonus
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $10, avoidable
  • Early account termination fee: $25, six months
  • Household limit: None listed
  • Expiration date: October 31st, 2017 March 16th, 2018

The Offer

No direct link, seen in branch.

  • Popular Community Bank is offering a checking bonus of up to $500 when you open a new Popular Prstige Checking or Popular Everyday Checking account and complete the following requirements:
    • $200 if you set up a recurring monthly direct deposit within 60 days of account opening
    • $300 if you deposit $10,000 or more of new money into your account and maintain that balance for 60 days
    • $500 if you do both (e.g set up recurring monthly direct deposit and deposit $10,000 in funds)

 

The Fine Print

  • Checking offer is available only for new Popular Prestige Checking and Popular Everyday Checking accounts.
  • Promotion begins on 01/16/18 and ends on 3/16/18. Popular Community Bank, in its sole discretion, reserves the right to change or terminate this offer at any time.
  • To receive the promotional $200 cash bonus, open a new Popular Prestige Checking or a new Popular Everyday Checking account in any Popular Community Bank branch or via www.popularcommunitybank.com, which shall be subject to our approval, and set up recurring monthly direct deposit within 60 days; the direct deposit needs to be an electronic deposit of sources such as payroll, pension and government benefits, among others. The $200 cash bonus will be deposited in the account within 90 days of account opening, if the checking account is in good standing, a direct deposit has been received in the account within 60 days and all requirements are met.
  • To receive the promotional $300 cash bonus, open a new Popular Prestige Checking account or Popular Everyday Checking, in any Popular Community Bank branch or via www.popularcommunitybank.com, which shall be subject to our approval. Deposit $10,000 or more of new money into the Popular Prestige Checking or Popular Everyday Checking account and maintain $10,000 or more of new money for 60 days from the date of deposit. New money is defined as deposits not previously held with Popular Community Bank. The cash bonus of $300 will be deposited within 90 days from the date you deposit $10,000 or more in new money.
  • Bonuses are limited to one per customer, per lifetime (not enforced according to this data point), and may be subject to IRS form 1099-MISC. Banco Popular North America (referred to herein as “our” or “Popular Community Bank”) is a Member of the FDIC and operates under the assumed name “Popular Community Bank” in the market in which it operates. Accordingly, Popular Community Bank and Banco Popular North America are the same FDIC-insured institution. Copyright © 2017 Banco Popular North America. Member FDIC.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is an early account termination fee of $25 if closed within 6 months. The easiest account to keep fee free that is eligible for the bonuses is the popular everyday checking account. This has a $10 monthly fee that is avoided if you do either of the following;

  • $1,000 in average monthly checking balance OR
  • by setting regular monthly direct deposit of a minimum aggregate amount of $750

Our Verdict

As mentioned in the title I think it’s best to think of this as a checking bonus offer of $200 and a savings bonus offer of $300. Let’s look at them individually:

  • $200 checking: Worth doing. Highest bonus previously was $125 and actually had more requirements. Pretty easy to keep account fee free and not that difficult to meet the bonus requirements.
  • $300 savings bonus: Requires $10,000 for 60 days, not sure what the interest rate is but I assume it’s basically 0% APY. If you have $10,000 laying around then a return of $300 for 60 days is 3% (over 60 days or ~18.25% annualized). Great deal if you have the money.

These offers are going straight to the best bank bonus page.

Big thanks to reader, Jake N who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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So essentially you could just deposit $25, they post the bonus, then you remove your $200, leave $25 in there for the early termination fee?

not a good thing to do .

I think it’d be good to note they are Chex sensitive, I was denied with 9 inquiries in the past year (looking at you M&T) and a friend was denied with 4…

The direct link does not say anything about a savings account. It looks like the $200 and $300 offers are both for the checking account.

DP
couldn’t open online and I’m in Palm Beach. Maybe they don’t consider us part of south Florida?!
told me to go into branch which the nearest is down in Sunrise. I’ll call first before I schlep down there.

Thank you for your interest in opening a Popular account.
At this time, we are unable to open your account electronically. To continue your account application, please visit one of our branch locations.

Please access the form provided here, for an explanation of your rights under state and federal laws.

I am in West Palm Beach. Opened 10+ accts this year

A lot of inquires in last few months, does going to branch increase the chance getting approved?

“maintain $10,000 or more of new money for 60 days from the date of deposit”, normally bank specifies deposit $10000 within 10 days of account opening, but here they don’t specify the day limit at all, is it the initial deposit required $10000(though this doesn’t make sense) or simply multiple deposits add up to $10000 balance with no day limit or one single $10000 deposit?

Were there any requirements stating that previous bonus recipients (the $125 offer) and / or existing account holders are not eligible?

The way I read this post (and the linked offer) is you just need to open a new account to be eligible.Seems that could help get around any chex issues (having likewise abused M&T)

From personal experience this bank was a hassle to set up a new account and get the previous $125 offer linked above, but interesting if this offer lets you just add a new account to an existing customer login / relationship and get the $200 + $300 w/i 90 days.

I sent a SM to them on exactly this point. Didn’t want to put $10,000 in there unless I have it in writing. I will let you know when I hear back from them.

Just saw on the linked full offer footnote #5:

Bonuses are limited to one per customer, per lifetime, and may be subject to IRS form 1099-MISC. Banco Popular North America (referred to herein as “our” or “Popular Community Bank”) is a Member of the FDIC and operates under the assumed name “Popular Community Bank” in the market in which it operates. Accordingly, Popular Community Bank and Banco Popular North America are the same FDIC-insured institution. Copyright © 2017 Banco Popular North America. Member FDIC.

Oh well.

Yah, I saw the lifetime language, but didn’t think it applied to *any* bonus for a single customer. Looks like EO got the answer below as well. I’m going to SM to confirm as well.

You are correct. I got two different bonuses at the same time ($300 Coral Gables Branch offer and $125 regular offer that was also available at that time) for only one Popular Checking account. So, you can get only one bonus per offer per lifetime.

Here was the text of my SM (sent through the online portal where I currently have an already existing account):

Hi,

Am I eligible for the following offer if I open a second checking account:

https:www.popularcommunitybank.comcampaignspopular-checking

($200 for direct deposit and $300 for depositing $10,000 in a new Prestige or Everyday Checking Account)

Or is this only available for brand new customers to the bank? Thanks.

TY for providing, I’ll give it a try as well and report back.

Got a more positive response that I’m eligible as an existing account holder and bonus recipient to my SM inquiry:

Dear Customer,

Thank you for your recent inquiry and for visiting http://www.popularcommunitybank.com

Checking offer is available for new and existing customers that open a new Popular Prestige Checking or Popular Everyday Checking account.

The $200 cash bonus will be deposited in the account within 90 days of account opening, if the checking account is in good standing, a direct deposit has been received in the account within 60 days and all requirements are met.

If you have any additional questions or concerns, please e-mail us, or contact our Customer Care Center at 1-800-377-0800. Our business hours are Monday through Friday, 7:30 a.m. to 12:00 midnight EST| Saturday and Sunday, 9:00 a.m. to 6:00 p.m. EST.

I took the plunge and applied today. I used the link above and the option to pre-populate the app as an existing customer by entering in my current account # and the prior statement ending balance. I assume this avoided the risk of chex etc. rejection…

Application took 2 minutes to do, basically confirmed the pre-populated info was correct and entered the external account info needed to fund the $25 opening amount.

They are doing 2 trial DD’s and I need to come back to verify. Got a confirmation # for the app so hoping this goes smoothly and is linked to existing account without issue.

Did not see a mention of the bonus within the actual application process so hoping it is attached in the back end somehow

Thanks to EO, SS and Jake N for your valuable comments.
Followed your advice. Got similar response to my SM inquiry. Just opened my first Popular Every Day Checking account very quickly by providing my current checking account number and the prior statement ending balance. Funded with $25. Waiting for the trial deposits verification to finish the application.

Update – My application apparently failed due to a system issue on their side even though the test DD’s went through to my funding account.

I had to call in to find out…then they told me I need to apply again and hope they worked the bugs out.

Wow.

Try #2 worked. I am funded and linked to existing online log in. xfering in $10K today…and setting up work DD

DP

Opened Account: 8/8
Deposited 10,000: 8/10
Paycheck DD (also did 3x Cap360 so don’t know what triggered): 9/1
$200 DD Bonus: 10/12
$300 10K bonus: 10/27

As stated above I still have the linked Popular checking account from the earlier $125 bonus this / last year. Also got targeted for the do 3x ATM withdrawals ($20 each…) with our app get $50 back in June

one per lifetime, what is that mean? do I qualify if i got the $125 bonus last year? please tell

Any relationship with the Banco Popular that just imploded/restructured & was acquired by Santander?

Is this part of Santander now? or were the US operations not part of the deal?

What? That’s nonsense… There is no such relationship. The Banco Popular you’re talking is from Spain and does not have any relationship whatsoever with Popular Community Bank in the US nor its parent bank Banco Popular in Puerto Rico.

Yea ALX is right. This is BPPR (puerto rico). Not banco popular de espana.

US subsidiary of Banco Popular Español is TotalBank (Miami Dade)

Same message as everyone else, “unable to open your account electronically” with a link to a Chex adverse action notice. Oh well.

Same as everyone else as well. Cant open online.

Anyone go into branch yet?

“unable to open your account electronically”

Same as everyone else. I live in NJ and have an NJ drivers license and everything. Told me to go in branch. I think it’s probably a scam to get people to come to their branches.

This sounds really awesome, but I’m not going to go ahead with this yet until someone can prove that they’ll actually allow someone with inquiries to open online.. US Bank turned me off, my first Chex denial

After getting my acct closed by Santander for excessive MO deposits, does anyone have experience with this bank?

What type of volume were you doing at Santander? I thought I hit them hard with MOs…and they haven’t done squat in over 2 years.

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