MeridianBank, $200 Checking Account Bonus (PA)

Meridian Bank has a $200 checking account bonus available for PA residents. The offer is broken up in $50 per month over a 4 month period. The offer page now says “Special offer for our Affinity Members”. There’s also a small change in requirements, with 10 debit purchases a month instead of 5.

Offer Requirements

Open a Free Interest Checking (or Relationship Checking) and earn up to $200 ($50 monthly) in the first four months when you do the following:

Set up a qualifying direct deposit of $250 or more
Maintain $200 in your account
Make 10 purchases/payments with your debit card

Offer must be referenced at time of account opening to receive the bonus.

Bonus will be deposited into your new account within 15 days after the end of each statement cycle meeting requirements. Eligibility for the bonus ends either six months after account opening or aggregate bonus total equals $200, whichever comes first.

The value of this bonus may be reported to the IRS and the recipient is responsible for any federal, state, or local taxes on this offer.

Eligibility

Offer Available in PA.

One bonus per person. Offer not available to existing checking customers or to those with a Meridian checking account that has been closed within the last 12 months.

Bank reserves the right to limit each customer to one new account-related incentive per calendar year.

Maybe targeted to Affinity Members.

Fees

No monthly service charge for Free Interest Checking.

If the checking account is closed by the customer or the bank within six months of opening, the bonus amount will be deducted from the account balance at closing.

Guru’s Wrap-Up

There’s not much info about this bank so we do not know if it’s a soft/hard pull, if ACH will work for DD and most likely you can’t fund with a credit card since you have to go to a branch. You basically need to do one $250 DD and 10 debit purchase a month to get a $50 bonus for that month. The good thing is that you have 6 months to max out the $200 bonus so even if you miss requirements for a month or two, you’re still able to get the full bonus. It mentions that the offer is for Affinity Members, but there’s no specifications in the terms.