[MA & CT only] PeoplesBank (Bankatpeoples) $250 Checking Bonus – Direct Deposit Not Required


Update 5/21/22: Deal is back and valid until 6/26. Hat tip to snailrock

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Offer available only to residents of Hampden/Hampshire/Franklin counties in Massachusetts and Hartford county in Connecticut
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: $500 per application
  • Monthly fees: None
  • Early account termination fee: 90 days, $15
  • Household limit: One
  • Expiration date: September 30th, 2020

The Offer

Direct link to offer

  • PeoplesBank is offering a checking bonus of $400 when you open a new PeoplesBank checking account using promo code Get250 and complete the following requirements:
    • Use your debit card for 30 point of sale transactions within 60 days
    • Deposit $2,000 into your account with mobile deposit and/or direct deposit within 60 days

The Fine Print

  • Minimum opening deposit of $10 required. The Free Checking account must be opened online at bankatpeoples.com/checking250 with the promotion code of Get250 by 9/30/2020.
  • To qualify for the offer you must perform 30 point of sale (POS) debit card transactions and have a minimum of $2,000 in aggregate of mobile deposits and/or direct deposits to the new account within 60 days from the account open date.
  • Although not all debit card POS transactions appear in your account immediately or may appear as ‘pending’ due to merchant processing times, these transactions will count toward the total POS debit card transactions.
  • Qualifying direct deposits are electronic deposits (such as salary, pension, Government Benefits or other monthly ACH deposits) made into your PeoplesBank Free checking account from third parties.
  • If you meet the criteria you will receive $250 in your account within four (4) weeks from meeting the criteria.
  • Customers who have had an open PeoplesBank checking account within 12 months of new account opening are not eligible for the offer.
  • PeoplesBank associates are not eligible.
  • Personal accounts only.
  • Limit of one promotional account per household.
  • Cannot be combined with any other offer.
  • Offer available only to residents of Hampden/Hampshire/Franklin counties in Massachusetts and Hartford county in Connecticut. Offer subject to change without notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The free checking account has no monthly fees to worry about

Early Account Termination Fee

According to comments on previous bonuses there is an  early account termination fee of $15 if the account is closed within 90 days.

Our Verdict

Previous bonus was $400. Might be better to wait for that offer to return, but before that bonus the best bonus was $300 with a direct deposit. We will add this to our best bank bonus page even though we’ve seen that bigger bonus in the past.

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