Update 2/19/22: Deal is back and good through April 30, 2022.
Update 10/16/21: Bonus has been increased to $200 and valid until November 15, 2021.
Update 4/22/21: Deal is back and valid until 4/30/21. Hat tip to ShawntheShawn.
Offer at a glance
- Maximum bonus amount: $150
- Availability: MD, DC & VA only
- Direct deposit required: Yes, $500+
- Additional requirements: eStatements & debit card transactions
- Hard/soft pull: Soft
- ChexSystems: Yes, according to this comment they are sensitive to too many frequent inquiries. Other datapoints below indicate they are not. This comment says they will deny if you have more than 3 in last 90 days.
- Credit card funding: Up to $250, Visa or Mastercard only
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: None
- Expiration date:
February 28th, 2017 May 31st, 2017 October 31st, 2018 March 31st, 2019 April 30th, 2019 August 31st, 2019 October 31st, 2019April 30, 2021
- Open a new checking account with Sandy Spring Bank and receive a bonus of $150 when you complete the following requirements:
- Receive a direct deposit of $500+ within 60 days of account opening. Then continue to receive a monthly direct deposit of at least $500 for 4 months
The Fine Print
- Open any checking account (excluding Student Banking) online or mention the offer when you call our client service center or visit our community offices between September 1, 2018 and October 31, 2018.
- Establish direct deposit of at least $300 within 45 days of account opening from a paycheck, pension, social security or other regular monthly income electronically deposited. Transfers from one account to another or deposits made at the branch or ATM do not qualify as direct deposits. Then continue to receive a monthly direct deposit of at least $300 for 4 months.
- Limited time offer available only to individuals who currently do not have a personal checking account with Sandy Spring Bank or have not had one within the last 90 days.
- Offer subject to change and cancellation without notice and cannot be combined with any other offer.
- Only one bonus per individual.
- Bonus will be deposited within 125 days of account opening, into the checking account meeting the bonus requirements.
- Accounts must be in good standing.
- All applicable taxes are the sole responsibility of the recipient.
The my free banking account has no monthly fee and also no monthly minimums. According to this comment the early account termination fee is $25 if the account is closed within 180 days.
Previous years it required no direct deposit, or only a direct deposit for one month. This new offer requires it for 5 months. It’s at least better than the $10 monthly bonus they offered earlier in the year. It sucks that this bank is inquiry sensitive, because this is actually a pretty good bonus.I guess if you don’t have too many inquiries on your ChexSystems report then this is worth it, otherwise you’ll most likely be denied. As always please share your datapoints in the comments below. Might add it to our best checking sign up promo page if we can get some more datapoints on how sensitive they are to inquiries.
Big thanks to reader, Curmudgeon & Fork who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
- Update 9/15/19: Deal is back and valid until October 31st, 2019. Now requires a $500 direct deposit instead of $300. Hat tip to reader TK
- Update 7/13/19: Deal is back and valid until August 31st, 2019. Hat tip to Andrea
- Update 2/10/19: Deal is back and valid until March 31st, 2019. Hat tip to reader Gadget.
- Bonus is back for 2018. Hat tip to reader YAR.