Columbia Bank Offering Up to 1,000 Checking Account Bonus (NJ Only)

July 11, 2023

Columbia Bank Offering Up to 1,000 Checking Account Bonus

🔃 Update: The new maximum bonus is now $1,000, and there are only two tiers. Here are the new requirements:

$500 for “new money deposits” totaling $50,000 and up to $99,999.99.
$1,000 for “new money deposits” totaling $100,000 and above.

Columbia Bank in New Jersey is offering a new bonus for checking accounts. You can earn between $200 and $1,500, depending on how much your deposit in your new account. You need a minimum of $25K and as much as $200K to get the maximum bonus. Check out the details of this Columbia Bank bonus below.

Offer

Here’s how to get the bonus:

In order to qualify for a one-time Yield Plus Offer cash bonus you must open and deposit a minimum total deposit of $25,000 of “new money” into your Yield Plus Checking account within fifteen (15) calendar days.
After the deposit funding process period expires, the deposit(s) must be maintained in your Yield Plus Checking account for an additional six (6) month period.
Once the six (6) month balance seasoning period expires, Columbia Bank will verify that the qualifications of the Yield Plus Offer were met and deposit the applicable cash bonus into your Yield Plus Checking account within thirty (30) calendar days.

Qualifying new accounts will receive a cash bonus of:

$250 for “new money deposits” totaling $25,000 and up to $49,999.99
$500 for “new money deposits” totaling $50,000 and up to $199,999.99
$1,500 for “new money deposits” totaling $200,000 and above.

The value of the bonus will be reported as interest to the IRS and a 1099-INT will be issued to you.

Eligibility

Offer available to those who live or work in NJ (maybe others as well if you go into a branch).

If you have received a cash and/or subscription bonus associated with a Yield Plus and/or Advantage Plus checking account within the 365 days preceding the opening of this new checking account, you are not eligible for either of these cash/subscription bonuses.

Fees

Yield Plus Checking Account is the best option. The account has no monthly fees.

I don’t see any early closing fees.

Guru’s Wrap-Up

Currently, for balances between $10,000 – $249,999.99 the APY is 0.60%. This bonus gives you an extra 1.5% to 2.0% APY. So nowadays this bonus is not very attractive considering the interest rates have gone up.

The account has no fees either. A good opportunity for some easy cash if you live or work in NJ.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.