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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, 2017March 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:
- 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
I was just told that after all this time, I’m not eligible to receive this bonus because it was opened online. I would have gone to the bank but the original description in this post said in branch OR online ..
I’d fight it
Hmmm…had $200 bonus post 4/13, then 5/11 another $200 posted and a $300 posted. Should i pull all funds via chase ACH and close it down? Worth the $25 fee if i get an extra 175.
What makes you think they can’t move your account into negative, even if closed? Then will be mark in Chex…
I had an extra $200 deposited and then they pulled it without asking from my account. But if you just close your account I dunno.
Anyone have DPs on closing this one…didnt see any on the “complete list…” for this bank? I’m soon going to be the DP myself, but thought I would ask to make things easier. Would have loved to close by SM and if not by phone than to drive to a branch. Transferring in 750 each month is no fun,
Being my own DP, I was able to 0 out the balance by bill paying and then SMd to close the account and it was closed.
I was hoping to close on the last day of the statement cycle since I had already met the requirements for no-fee month. However it took them more than a day to see the SM and close the account by which time my statement had already been cut. So I might be charged a fee for the 1 day new statement period for which I did not meet the no fee requirements. I will know if they charge me the last months fee in a few days and will post at that time.
Just opened the account at the branch. Pretty smooth and fast process, friendly manager. No lines but may be because of the weather. The promotion is only at this location because this is a new branch. Need to sign up for eStatement to avoid $2 fee once online account is set up.
Did anyone get 1099 from them on 2017 bonuses yet?
Yes, I did.
I did not get the 1099s as of late Feb and so I called. After that they sent it within 10 days of calling. Its 2 separate 1099-MISCs one for the 300 bonus and one for the 200 bonus.that will be sent. So yes, they do report and you are better off calling and getting them to send it to you.
any DP on if this offers works in another branch? the Hoboken branch has terrible hours and no weekend.
Mon-Thur: 9AM–4PM
Fri: 9AM-6PM
Sat-Sun: Closed.
Confirming this works in Hoboken office. They did note that I have a “large number of online account openings,” but I noted that I run several businesses and it may have been related to those. Entire stop took about 30 min.
Did they express hesitation due to them uncovering that? Do you believe that others might run into issues if they don’t have a good excuse?
$300 bonus just posted. Here is my full DP:
10/26/17: Transfer $10k
11/20/17: DD
12/4/17: DD
12/18/17: DD
12/18/17: $200 bonus
1/9/18: $300 bonus
$300 deposited 1/9 as well x2.
And I only got the account open on 10/31, and $10k only posted 11/1 (but the transfer was initiated on 10/31 after verifying trial deposits).
Happy I went ahead with this even though everyone was reporting that money had
to be deposited and clear by 10/31.
Easy $1k.
Warning for account holders of the future: I can’t log into my account, after being told that I had failed to submit my signature card.
First of all, it’s so unlike me not to submit my signature card, I question whether or not I could possibly have done such a thing, after giving me a reminder months earlier.
Secondly, they’ve had deposits and withdrawals, which I thought was de facto seen as the electronic version of a signature card (i.e., if an account with your name on it at Bank 1 pulls or pushes to Bank 2 with your name on it, clearly you must be the owner of said account with your name on it – I know it works for Ally)? Including workplace DDs.
Thirdly, I tried to rectify it before I went out of town for the holidays. The email which told me to call them, gave hours which were a blatant lie, because when I called before those hours evaporated, the lady on the other end of the line said “oh, you need to call back six hours earlier. That’s a different department.”
???
Just a heads up, my $200 bonus for DD also posted on 12/18.. just waiting for $300 bonus, now.. in another week or so.
Did you get the $300 bonus yet?
Sorry for the late reply, yes.. $300 posted on Jan. 9th as well.
I received the $200 bonus on my account and DW.
Made deposits from Chase, and Fidelity. Fidelity required a copy of statement but there were no trial credits.
Both show as pre-authorized credit.