People’s United Bank is offering some new bonuses that can earn you up to $300 when you open a new account at one of their branches.
Bonus Requirements
- To qualify for the $100 reward, you must:
- Open a Plus Checking account;
- Mention promo code FALL100; AND
- Receive direct deposits made to this account totaling $500 or more within 90 days of account opening.
- To qualify for the $200 reward, you must:
- Open an Advantage Checking or Advantage Plus Checking account;
- Mention promo code FALL200; AND
- Receive direct deposits made to this account totaling $1,000 or more within 90 days of account opening.
- To qualify for the $300 reward, you must:
- Open a Premier Advantage Checking account;
- Mention promo code FALL300; AND
- Receive direct deposits made to this account totaling $1,500 or more within 90 days of account opening.
Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Reward will be credited to your account by 3/22/19 if the qualifications are met. Reward is considered interest and will be reported on IRS Form 1099-INT.
Eligibility
Offer available only at People’s United Bank branches located in NY and MA.
One reward per household.
Fees
- Plus Checking account
- No fee
- Advantage Checking or Advantage Plus Checking account
- $25 monthly fee – Waived with a combined average balance of $7,500 or more in personal deposit or CD accounts, Home Equity or Home Equity Line of Credit balances and/or investments held at People’s Securities, Inc
- Premier Advantage Checking account
- $30 monthly fee – Waived with a combined average balance of $75,000 or more in personal deposit or CD accounts, Home Equity or Home Equity Line of Credit balances and/or investments held at People’s Securities, Inc
If the checking account is closed within 6 months of opening, bonus amount might be deducted.
Referral Program
They also have a referral program where you can earn up to $500 by referring 10 friends.
But with the referral offer, your friends and family can only earn a $50 sign up bonus by completing the same requirements. I doubt you can stack both bonuses. If you prefer to use the referral program, you can do it here.
Guru’s Wrap-Up
The $200 and $300 bonuses requires a large balance to keep the account fee-free so I think they wouldn’t be worth it. Their CD rates are terrible so even that will not work to meet the minimum balance requirement. The $100 bonus is the most viable option here.
If this bonus is not for you, then you can check our full list of available bank bonuses.
Offer Details
- No Link
- Bonus: $100, $200, $300
- Account Type: Plus Checking, Advantage Checking, Premier Advantage Checking
- Availability: MA, NY
- Expiration Date: 11/30/18
- Inquiry Type: Soft pull
- Opening Deposit Credit Card Funding: Unknown
- Direct Deposit Requirement: $500-$1,500
- Other Requirements: No
- Monthly Fee: None, $20, $30 (can be waived)
- Early Closing Fee: None (must keep it open for 6 months to receive bonus)
