Offer at a glance
- Maximum bonus amount: $150
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: No
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: Unknown
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: February 28, 2021
The Offer
- Ponce Bank via Save Better is offering a bonus of up to $150 when you open a new checking account. The bonus you receive depends on the amount you deposit (deposit must be maintained for 90 days):
- Receive a $50 bonus when you deposit $25,000+
- Receive a $100 bonus when you deposit $50,000+
- Receive a $150 bonus when you deposit $75,000+
The Fine Print
- New customers are eligible to receive a discretionary $50USD cash bonus when they make a deposit of $25000.00USD or more, $100USD with a deposit of $50000USD or more, and $150USD with a deposit of $75000USD or more in a Ponce Bank high-yield savings account through SaveBetter.com.
- Each customer is eligible to receive a maximum of $150USD of bonus cash.
- Customer must maintain the minimum daily deposit amount for each level of bonus for a period of at least 90 days (e.g., a minimum balance of $25000USD daily to be eligible for a $50USD bonus cash).
- Bonus cash to be deposited by SaveBetter LLC into customer’s Customer Account within 30 days after customer qualifies for the offer.
- Offer valid from 01/21/21 to 02/28/21.
- US customers only.
- Not open to SaveBetter or Deposit Solutions employees.
- SaveBetter reserves the right to terminate this offer at any time and to deny Customer bonus cash for any reason.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Unsure if this account has any monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule
Our Verdict
Account earns 0.5% APY, that’s actually competitive with other basic savings rates. Funds must be maintained for 90 days, that works out to be an additional ~0.8% APY for a total 1.3%. That’s good for a basic rate, but nothing special as a savings bonus.
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
