If you’re in the market for a new checking account, I’ve listed below four recent signup bonuses that I’ve run across. In each case, I’ve included a summary of the offer details. Full details are available by clicking through to the application pages. Note that some of these are regional offers, and thus not available to everyone.
$100 Cash Bonus – BofA MLB Personal Checking Account
Open a Bank of America MLB Personal Checking account using promo code MLBEM100 and receive a $100 bonus. New customers only. Minimum deposit of $250, and must make a debit card transaction within 30 days of account opening. Offer expires 5/15/10.
$100 Cash Bonus – BB&T Free Checking Account
Open a BB&T Free Checking account and receive a $100 bonus. If prompted for a promo code, use AFJAP. Minimum deposit of $50. Must set up direct deposit or make three online bill payments within 60 days of account opening. New customers only. Time is short on this one — offer expires today (4/30/10).
$100 Cash Bonus – PNC Checking Account
Open a PNC Checking Account and get a $100 cash bonus. Must set up direct deposit and complete ten check card transactions before 6/30/10. No minimum balance. Here again, time is short… Offer expires today (4/30/10).
$100 Cash Bonus – M&T Bank Checking Account
Open an M&T Bank Checking Account and up to a $100 cash bonus. This is a tiered bonus, with $50 for activating direct deposit, $25 for adding overdraft protection, and $25 for using web bill pay. Actions must be completed within 90 days. New customers only, and you’ll need to double-check that all bonuses are available on your desired account type. Offer appears to be ongoing.
5 Responses to “$100 Checking Account Signup Bonuses”
This is a great post. I really wish I’d come across it 2 months ago. Any chance of an updated list of Bank Account bonuses soon?
I also tried to sign up online for the PNC checking account with $100 bonus on 4/30/10. My mortgage is with PNC, they recently took it over from Natinoal City Mortgage. Everything went smoothly until I must have flunked some question on the security questions on the end. One question claimed I had a car loan from 2005 which I did not (I am still driving my 1994 car) so I answered negative to that question and its funding source.
But I got a call from a bank representative on May 3. I told him I applied online but was not sure I made the 4/30/10 application deadling for the $100 bonus. He then told me that he was not sure if the bonus would happen and he could not guarantee it. He was new and his boss had been talking about the bonuses and not sure if they would be offered yada, yada. He told me he could not tell me for sure if I would get the bonus. I told him I had applied thinking I would get the bonus. We agreed that he would cancel my application. Now I feel like a chump that I fell for these ads.
Beware of BB&T. Based on the ad for the $100 bonus for opening a new checking account with BB&T, I did so online and had $300 transferred from another checking account to fund the new account on 4/30/10. I checked a few days later online and saw the $300 posted in my BB&T account. Then I did an online bill payment on 5/3/10 to Amex for $14.88 which was posted on 5/6/10. On the morning of 5/7/10 I received an email that I had an overdraft charge. In shock, I checked the account online. They had held my $300 deposit and processed the $14.88 debit as if I had no money in my account.
My complaint to phone representative was for nothing. She said they would not refund the charge and deposits was “held” because I was a new customer. She could not tell me how long the deposit should be or would be held. Apparently long enough so that my very first debit would cause an overdraft. I am writing a complaint to BB&T asking for refund of overdraft and citing violation of Federal Regulation CC Availability of Funds and Collection of Checks at http://www.federalreserve.gov/pubs/regcc/regcc.htm
Then I searched on line for BB&T complaints and saw tons of complaints about abusive practices with overdraft fees. They post deposits and debits in varying time order to generate overdrafts and fees on top of fees. People have lost hundreads and hundreds of dollars with these abusive practices. I see there is even a class action suit against them for this behavior that was filed in Sept 2009. Now I am treading very carefully to get my money out of the bank.
I also learned from the complaints that they also charge $5 per check if you cash in person a check made out to you from another bank, according to another complaint. Someone overseas got inactivity fees racked up unknowingly, which then triggeerd overdraft fee upon overdraft fee. Then BB&T would not let her close the account until all the fees were paid. It is an endless trapping cycle of fees. It is hard to find the fees on their website. You have to explore their Q&As and click on each question and answer separately to find out what some fees (like the overdraft charge) are. Be forewarned.
Megan: The new series of Saturday posts where we review various financial products are being posted in addition to, not in place of, the regular weekly content. As for the balance of the weekly content, the mix is no different than what it’s ever been. We typically publish five “meatier” finance posts, one on each weekday morning, plus 2-3 shorter posts that typically cover newsier items, “hot deals,” or sometimes link roundups from other sites.
I’m only responding to ask why the sudden influx of posts related to financial products? I subscribed to this blog to read about personal finance not the best credit card deal or bank account. If I needed that information I would be willing to do it myself. It’s good personal finance advice that is harder to come by. I hope you return to your previous format or I will be unsubscribing.