Investors Bank is advertising a $850 bonus at their branches. It’s really a $350 bonus for a new account and the rest, the $500, is what you can get with referrals. You need to go into a branch, which are located in New Jersey and New York.
Bonus Requirements
Bonus is up to $350, $35 per month for 10 months. Reward payments will cease at the earlier of reaching $350 total or 10 consecutive cycles from the date you opened your account. To be eligible to receive monthly bonus you must satisfy the following transaction activity requirements:
- have an ACH deposit to your account of $1000 or more during your statement cycle; OR,
- complete 15 Point-of-Sale (POS) transactions during your statement cycle, using your YourStyle®Plus Visa Debit Card linked to your account.
The bonus is considered interest and will be reported on IRS Form 1099-INT. Consult your Tax Advisor. This offer may be withdrawn at anytime without notice.
Eligiblity
Offer not available to any account owner with an existing personal checking account.
Must open in branch and branched are located only in NY and NJ.
Fees
Maintain $20,000 average Monthly Balance with YourStyle® Plus Checking and another qualifying account6 AND a Direct Deposit of $1,000 or more OR 15 or more POS transactions to avoid the Monthly Fee.Â
Qualifying Accounts: YourStyle®Plus Money Market account or High Yield Savings account. YourStyle Plus Checking Monthly Maintenance Service Fee: $20. First Month after account opening the Service Fee is Waived
Guru’s Wrap-Up
This is a decent bonus, but not the best around. It will take 10 month for you to get the full $350. You also need a large amount to keep the account fee-free. I’m also not sure if the referral bonus and the signup bonus stack for the people you refer.
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.
Offer Details
- Offer Page
- Bonus: $350
- Account Type: YourStyle Plus Checking
- Availability:Â NY, NJ
- Expiration Date: None
- Inquiry Type:Â Soft pull
- Credit Card Funding:Â No
- Direct Deposit Requirement:Â Optional
- Other requirements: 15 Point-of-Sale (POS) transactions
- Monthly Fee:Â Can be waived
- Early Closing Fee: Unknown (but shouldn’t be an issue since you will have account opened for 10 months anyway)
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