[Expired] [Targeted, NJ & PA] Provident Bank $200 Business Checking Bonus

This offer has expired, view the best current checking bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $200
• Availability: NJ & PA only. Also contains targeted language in the fine print
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Up to $2,500. Visa or Mastercard only
• Monthly fees: $10, avoidable
• Early account termination fee: Unknown
• Household limit: One per business
• Expiration date: November 30th, 2018

The Offer

Direct link to offer

• Provident Bank is offering a bonus of $200 when you open a new BusinessAdvantage checking account and complete the following requirements:
  • Open with at least $50
  • Make $2,500 in one-time or cumulative deposits over the first two statement periods

The Fine Print

• To receive the $200 checking bonus: open a new Provident BusinessAdvantage Checking account; deposit $50 or more at account opening; and make $2,500 in one-time or cumulative deposits over the first 2 statement periods following the account opening date. After you have completed the above requirements, including satisfactory management of your account, we’ll deposit the checking bonus in your new account within 75 days of the last day of the promotion (last day of the promotion is November 30, 2018)
• This checking bonus offer is only available to the business name to which the letter/postcard was mailed that is located at the address specified in the mailing. Limited to one account and cash bonus offer per business tax ID. The postcard must be presented at a Provident branch when opening the account. The offer is not transferable to entities that are not included in the mailing file. Promotion available to new Provident Bank business checking clients only. We will not honor any promotional offers that appear on third-party websites that are not authorized by us. Offer subject to change or cancellation at any time without notice.
• The value of the checking bonus for qualifying account holders may constitute taxable income to you. To facilitate tax reporting, Provident Bank will issue the required IRS Form 1099-INT to you that reflects the value of the bonus as of December 31, 2019. Please consult your tax advisor, as neither Provident Bank, its affiliates, nor their employees provide tax advice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $10 monthly fee, this is waived with an average minimum balance of $2,500.

Early Account Termination Fee

I wasn’t able to find the fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Shame that the offer is targeted. We’ve seen a public bonus of $200 on the personal checking account, as far as I know we haven’t seen anything for business accounts before. It looks like you might need to open the account in branch, so it might be possible to get it even without the targeted mailer but I doubt it. Because of that targeted language this won’t be added to the best business checking bonuses.

Hat tip to DDG

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