Amalgamated Bank is offering a $150 bonus and they will give $50 to Color of Change when you open a Convenience+ Checking account. To qualify for this bonus of $150, you must open a Convenience+ Checking Account between April 15 and June 30, 2016, using the URL provided or by mentioning this special offer when you apply by visiting a branch, and you must set up a qualifying recurring direct deposit of $500 or more. At least one qualifying direct deposit of $500 or more must post to your account within 60 days of account opening. Amalgamated Bank has branches in LA, NYC and Washington DC but the bonus is available nationwide.
The bonus will be directly deposited into your Convenience+ Checking Account within 30 days of fulfilling requirements.
Convenience+ Checking Accounts has a $10 monthly maintenance fee that can be waived with a qualifying recurring direct deposit of any amount.
DoC reports that it is a soft pull and you’re also able to fund up to $500 with a credit card (Visa or Mastercard only). He has a data point that Chase INK came through as a purchase. Set your CA limit to $0 just to be sure before you try any other cards.
Direct Deposit
I used Capital One 360 for the Direct Deposit requirement and the bonus was deposited about a month after the ACH went through.
From comments on DoC’s post looks like many other ACHs are working as well, such as Chase, Ally, Alliant, Serve etc.
Offer Details
- Sign up Offer
- Account Type: Convenience+ Checking
- Availability: Nationwide
- Expiration Date: 06/30/2016
- Inquiry Type: Soft pull
- Opening Deposit Credit Card Funding: Up to $500 (Visa or Mastercard)
- Direct Deposit Requirement: $500 DD within 60 days of account opening
- Monthly Fee: $10 monthly fee, but waived with any direct deposit
- Closing Account Fee: None
HT: DoC
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it’s a scam!. ACH transfer of $500 could not make you $150 richer. you have to make a direct deposit. period.
I received the bonus and I used ACH from Capital One 360. Which bank did you use?
hey Danny, when do you plan to close this account if you haven’t closed it yet? I’m wary about their revised terms saying recurring direct deposit of $500, when it used to say any amount. The $500 DD was a one time amount in order to qualify for the bonus but now there are reports saying it is recurring $500 DD in order to waive the $10 fee. What do you think?
It’s still any amount to waive fee “$10 monthly maintenance fee that can be waived with a qualifying recurring direct deposit of any amount.”
And also the “recurring” wording was there when I posted this on May 11th, and I applied either that day or the day after and I received the bonus. I don;t think there should be any issues. Are you usre the terms were different before?
I just read it on the replies on Doc’s blog. I also got my bonus posted on 6/22. I’ve already pushed a small amount DD aside from the $500, we will see after 60 days if they will charge $10 if DD is <$500. I can't find any data on ETF for closing in x days.
I also set up recurring $1 and change from CO360. I think it should be ok.
Hey Danny, did you get your bonus yet? If so what did you use for DD? I cant switch my paycheck deposit that easily so I tried Ally bank and I’m still waiting.
I’m in the same boat. I used Capital One 360 and should find out in a few days if it worked. Let me know if Ally Bank works for you.