Posted by William Charles on September 30, 2018
Bank Account Bonuses

Published on September 30th, 2018 | by William Charles

65

[Expired] [D.C., MD, NC, PA, SC, WV & VA only] MVB Bank $200 Checking Bonus

This bonus has now expired, click here for the best current checking bonuses.

Reposting again as it’s available in a lot more states than first thought. Thanks to reader MarcoPolo.

Bonus is back and has been increased from $100 to $200. Thanks to reader Steve.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: D.C., MD, NC, PA, SC WV & VA only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: 10 debit card transactions
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $5, avoidable
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Open a new MVB smart checking account online and earn a bonus of $200 when you complete the following requirements:
    • Setting up a qualifying direct deposit of at least $500 that posts and settles within 60 days of account opening
    • Make at least 10 qualifying PIN point of sale or signature based purchases using your MVB Visa debit card within the first monthly statement cycle (must post and settlement)

 

 

The Fine Print

  • Earn $100.00 when opening a new MVB Smart Checking account in branch or earn $200 when opening a new MVB Smart Checking account online by 1) signing up for online banking at mvbbanking.com 2) setting up a qualifying $500 Direct Deposit within 60 days of opening your new Smart Checking account.
  • The direct deposit can be one or multiple direct deposits and must post and settle to the account in the first 60 days of account opening. 3) making at least ten (10) qualifying PIN Point of Sale or signature-based purchases using your new MVB Visa Debit Card within the first full Monthly Statement Cycle. Debit card transaction must post and settle to the account during the statement cycle to count.
  • After you have completed all of the above requirements, we’ll deposit the incentive into your new account within 30 business days.
  • Incentive is considered interest and will be reported on IRS Form 1099-INT.
  • A qualifying direct deposit is an electronic credit of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency.
  • Transfers from one account to another or deposits made at a banking location, ATM or online transactions do not qualify as a Direct Deposit. Promotion only extended to new MVB Smart Checking Account customers.
  • You may only receive one Smart Checking account related incentive per calendar year.
  • The new account must remain open and in good standing with a minimum balance of $0.01 until the reward is processed to receive the reward.
  • Promotion valid beginning 08/09/2018 and is subject to withdrawal at any time.

Avoiding Fees

Smart Checking account has a $7.5 monthly fee, this is waived if you do either of the following:

  • Receive a monthly direct deposit
  • Have a daily balance of $1,000+

I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not. Also keep in mind they charge a $4 fee if you opt to receive paper statements.

Our Verdict

Deal is much better now that the bonus is for $200 instead of only $100. Because of that I will now add it to the list of the best checking accounts. As always please share your experiences with this bank/bonus in the comments below.

Useful posts regarding bank bonuses:



65
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Gibunono
Gibunono

Where is Gadget? Haha.

Gadget
Gadget

Ha Ha. Actually, I am eyeballing this one. Looking that their branches, they are not in my area, so I am thinking I will call before applying. I get tired of being rejected for being outside the “footprint”. (Sandy Spring, First Merchants, First Bank (VA), Westfield)

MarcoPolo
MarcoPolo

Where is our in house Legal Bank Robber?

Gadget
Gadget

Dan is NY & OH, I believe. YAR is Northern VA, so he will be on this.

Bhanna
Bhanna

Opened an account in the branch today.

1. No hard pull…
2. They look at chex system. But, I had 31 inquires due to M&T, and they still opened the account.
3. No Credit card funding… But minimum funding if $50
4. They are able to print a debit card in branch so you can do your ten transactions with ease in the given statement cycle….
5. You get typical starter checks and documents and sign a signature card while in branch
6. Notable fee: $4 monthly if you get paper statement… But you can just opt out of those…
7. Either keep $250 or get a DD to waive the $5 monthly fee

I plan in doing a push from cap one 360 and discover and a real DD from work… Will try to remember to post back here once bonus posts…

Bhanna
Bhanna

Just an FYI — if you do attempt this, be sure to do your Debit card transactions ASAP. Just received my first statement and it was only for 10 calendar days. Sep 1st – Sept 10th… I did all my transactions right away because I had them print my Debit card in the branch, so I would recommend that for anyone trying this out as well…

Steve

Looks like there’s a $200 bonus for ‘NOVA” folks…
https://www.mvbbanking.com/200-smart-checking-promo

Brian
Brian

I live in DC and it’s allowing me to proceed with the application. Has anyone in DC done this and gotten the bonus?

Gadget
Gadget

Swing & miss. Failed “Identity Verification – We regret to inform you that we could not open your MVB Bank account at this time.”

I tried twice. I know I answered all correctly. 1st time the questions were relevant. 2nd attempt, all were crazy and None of the above.

I am well outside of footprint, but in the correct state (VA). Maybe I will try SO tomorrow. All surrounding states are eligible to apply per the application pull down menu, but maybe they use a distance to nearest branch calculation to deny accounts?

NBG
NBG

same here from PA

MarcoPolo
MarcoPolo

Where does it say “WV & VA only” ?
I am seeing other states in the drop down menu.
What am I missing here?

Onsale
Onsale

3 points:

1. DPs on DDs sorely needed. The MVB portion of the DD reference page is blank.

2. Is this a typo? (found as the first sentence in the section “Our Verdict”:

> “Deal is much better now that the bonus is for $200 instead of only $200.”

3. Another potential loose end in search of a definition is what a qualifying purchase is, as in:

> 3) making at least ten (10) qualifying PIN Point of Sale or signature-based purchases using your new MVB Visa Debit Card within the first full Monthly Statement Cycle.

Gadget
Gadget

1. Hardly anyone has done this one. DP’s come from experience, and since this used to be a $100 bonus and only was for two states, it didn’t get very much action.
2. no comment
3. It says “qualifying PIN Point of Sale or signature-based purchases”. That covers pretty much any debit card purchase, in person or online, other than ATM transactions, and they didn’t set a dollar limit so as long as it clears, it would be good to go. It is not loose end. If you enter a PIN, it’s PIN POS – if you hit Credit, or do Amazon/online, it’s signature.

Onsale
Onsale

What is “qualifying”?

Gadget
Gadget

If you are that concerned, I would call them and ask. I would say qualifying means actually making it onto the statement and not returned. If I were you, I would try to get approved before worrying about details. Sounds like they may have taken it down so you don’t need to fret.

humberto de richmond
humberto de richmond

declined at first then opened.

Gadget
Gadget

Did you re-apply, or get a correction? How did you get notified it was opened?

Simon
Simon

monthly fee is $15, waived if balance falls under $1000, or one ACH DD.

JP
JP

Truth in Savings disclosure reads this for smart checking account:

A monthly service charge of $7.50 will be imposed every statement cycle if the daily balance on any day of the statement cycle falls below $1,000.00
The monthly service charge can also be waived by the receipt of at least one (1) ACH direct deposit into the account during the monthly statement cycle.

Where do you read minimum is $250 to avoid monthly charge? Is that outdated information or for some other account type maybe?
William Charles

Gadget
Gadget
ChurningFast

Denied by Chex. They mentioned explicitly that Chex score wasn’t good enough in an emailed notice of adverse action. It actually included my Chex score as well (~560).

Charles Chang
Charles Chang

The only issue I see here is the debit card, if they don’t mail quick enough, then …

Gadget
Gadget

Terms state debits need to be “within the first FULL Monthly Statement Cycle”. So, logically a full Monthly statement is a 30 day month. Not a 5-10-20 days statement when you first open an account. Do you really think bankers and CSR’s are monsters? And, if you do amazon reloads, it shouldn’t be a problem.

Tp
Tp

It claims 10 signature or pin pad entries, still think the amazon GC will bypass?

Gadget
Gadget

Yes. Signature transactions don’t mean you have to sign the receipt… it just means it’s passing through the Visa/MC Network. The bank just wants you to use their plastic, and I have yet to see a bank deny Amazon transactions as debit card purchases.

Neil
Neil

Direct link leads to Error 403 – “You are not authorized to view this page.” Do you have a working link?

Mark
Mark

Link isn’t working for me.. says ‘ERROR 403. You are not authorized to access this page.’

Frito Pendejo
Frito Pendejo

Same

David Moore
David Moore

Same

Andrew
Andrew

I saw the offer page last night, and this morning I got a 403 error instead. I don’t think there was a code or anything: the promo was just, “After you open a Smart Checking account (plus do DD and 10 debits), we’ll give you $200.” If the language that made that offer doesn’t exist anymore, it’s possible they’ve killed this promo outright.

DCMP
DCMP

$200 bonus link is now an error 403

Back to Top ↑