[Expired] [VA, MD NC] Atlantic Union Bank $100-$600 Checking Bonus

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Offer at a glance

Maximum bonus amount: $100
Availability: Must reside in Virginia, Maryland or North Carolina
Direct deposit required: Direct deposits of $1,000-$30,000 required within 180 days of account opening
Additional requirements: See below
Hard/soft pull: Soft
ChexSystems: Yes, mixed dp on being sensitive
Credit card funding: Up to $1,500
Monthly fees: None
Early account termination fee: 180 days, $25
Expiration date: August 31st, 2020

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

Atlantic Union Bank is offering a bonus of $100, $350 or $600 when you open a new checking account. Bonuses are as follows:
- $100 bonus when you open a new Free Checking or ThankU Checking account, maintain the account minimum for 180 days and establish a recurring qualified direct deposit within combined deposits totaling $3,000 or more within 180 days of account opening
- $350 bonus when you open a new Loyalty Checking account, maintain the account minimum for 180 days and establish a recurring qualified direct deposit within combined deposits totaling $20,000 or more within 180 days of account opening
- $600 bonus when you open a new Preferred Checking account, maintain the account minimum for 180 days and establish a recurring qualified direct deposit within combined deposits totaling $30,000 or more within 180 days of account opening

The Fine Print

$100 Bonus- In order to qualify for the $100 cash bonus, you must (1) Open a new personal Free Checking or ThankU Checking account by August 31, 2020, AND (2) Maintain the account for a minimum of 180 days, AND, (3) Establish a recurring qualified direct deposit with combined deposits totaling $3,000 or more within 180 days of account opening.
$350 Bonus- In order to qualify for the $350 cash bonus, you must (1) Open a new personal Loyalty Checking account by August 31, 2020, AND (2) Maintain the account for a minimum of 180 days, AND (3) Establish a recurring qualified direct deposit with combined deposits totaling $20,000 or more within 180 days of account opening.
$600 Bonus- In order to qualify for the $600 cash bonus, you must (1) Open a new personal Preferred Checking account by August 31, 2020, AND (2) Maintain the account for a minimum of 180 days, AND (3) Establish a recurring qualified direct deposit with combined deposits totaling $30,000 or more within 180 days of account opening.
A “qualified direct deposit” is a direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account.
Cash bonus is only available to new-to-Atlantic Union Bank checking customers who have not had a personal checking account with us within the last 12 months.
Limit one cash bonus offer per new customer.
Bonus may not be combined with any other offers.
Atlantic Union Bank reserves the right to alter the terms of the promotion or end it at any time. All accounts are subject to approval.
Cash Bonus Payment- Cash bonus will be credited to your new checking account in March 2021, no later than March 31, 2021 after all terms of offer are met.
Your checking account must be open and in good standing to receive cash bonus award. Cash bonus value will be reported to IRS as taxable income.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Free Checking ($100 Bonus)

This account has no monthly fees to worry about.

Loyalty Checking ($350 Bonus)

This account has $10 monthly fee, this is waived with $2,500 min. or $10,000+ combined Deposit/Loans/Line of Credit balance.

Preferred Checking ($600 Bonus)

This account has $25 monthly fee, this is waived with $25,000 min. or $50,000+ combinedbalance

Early Account Termination Fee

According to the fee schedule you’ll be charged an early account termination fee of $25 if the account is closed within 180 days of opening.

Our Verdict

Previously only the $100 bonus was offered. The direct deposit requirements of $20,000 & $30,000 seem insane, but you do have 180 days to meet those requirements I guess. Keeping the accounts fee free (especially for the $600 bonus) is difficult and sadly those requirements can’t bet met with direct deposits (requires minimum balances instead). I’ll add these to the best bank bonuses, but not sure how attractive the bigger bonuses actually are.

Hat tip to reader Gotham

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