Update 2/2/21: Deal is back and valid until March 31, 2021. Bonus is now only $300 instead of $400. Because of that I would recommend waiting. Hat tip to reader Gadget.
Offer at a glance
- Maximum bonus amount: $300
- Availability: OH, VA & PA
- Direct deposit required: Yes, $5,000+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $5, avoidable
- Early account termination fee: Need to keep account open for one year to get full bonus
- Household limit: One
- Expiration date:
March 31st, 2020 July 31st, 2020 September 30, 2020 December 31, 2020March 31, 2021
- Dollar Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
- Get $200 in Mastercard debit card rebates with a total of $2,500 in direct deposits within 90 days of account opening.
- And, get $100 after your one-year anniversary of account opening.
- If you open your account online, please call 1-800-242-2265 or e-mail firstname.lastname@example.org and provide your name and promo code CM478 to be eligible. If you open your account at an office, mention promo code CM478 at account opening to be eligible.” (this is new from 11/1/20)
The Fine Print
- To qualify for the offer, an Everything Checking account must be opened by 3/31/20.
- Offer is for new checking customers only.
- Those who had an open checking account within the past 180 days are not considered to be new customers and are not eligible for the offer.
- Up to $400 is available in one $100 Mastercard debit card rebate, one $200 credit, and one $100 credit. To receive the $100 Mastercard debit card rebate, the account must receive cumulative direct deposits of $1,000 or more within 90 days of account opening and the account must be in good standing.
- The $100 Mastercard debit card rebate will be added to the new checking account within 40 days of the qualifying cumulative direct deposits.
- To receive the $200 credit, the account must receive cumulative direct deposits of $5,000 or more within 90 days of account opening and the account must be in good standing.
- The $200 will be credited to the new checking account within 40 days of the qualifying cumulative direct deposits.
- The $100 credit will be applied within 2 months of the 1-year anniversary of account opening provided the account qualified for the $100 debit card rebate, is active, in good standing and is in a qualifying plan. Maximum amount is $400 per account and one per household.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Everything Checking Account $5 Monthly
The Everything checking account has a $5 monthly fee, it’s waived if either of the following conditions is met:
- Six payments via check, Online Banking bill payments, Telephone Banking bill payments, ACH debit, or Point of Sale transactions (both signature or PIN based) posted to the account.
- You have an average checking balance of $2,500 or more
Early Account Termination Fee
Need to keep account open for one year to get full bonus, but $25/180 EATF otherwise.
Bigger bonus we’ve seen before is $300. This is a slightly different offer, but still very much worth doing in my opinion. It’s annoying you need to keep the account open for a full year to get the full bonus. I’ll be adding this to our list of the best checking bonuses.
Hat tip to reader Derek D
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
- Update 11/3/20: Extended until December 31, 2020
- Update 10/11/20: Deal available again until October 31. Hat tip to Xinqing W
- Update 8/25/20: Deal available again until August 31. Hat tip to Gadget
- Update 5/30/20: Extended until July 31st, 2020.
- Update 3/28/20: Deal has been extended until 5/30/20. Hat tip to reader Don B