People’s United Bank, Up To $400 Checking Bonus (MA, NY)
People’s United Bank is offering some new bonuses which are available online. You can earn up to $300 for opening a checking account and an extra $100 with a new savings account. The offers are available in MA and NY only and have been extended until March 19.
Offer
To receive this offer, you must mention promo code BONUS21 when you open your new checking account held individually or jointly between 12/1/2020 and 1/29/2021 with a $25 minimum opening deposit.
For accounts opened online, you must use the “Apply Now” link on the offer page at the time of account opening to be enrolled in this offer. If you enter an eligible zip code and use the “Apply Now” link, the promo code BONUS21 will display.
- To qualify for the $200 checking reward, you must:
- Open an Advantage or Advantage Plus Checking account;
- Receive qualifying direct deposits in the account totaling $1,500 or more within 60 days of account opening.
- To qualify for the $300 checking reward, you must:
- Open a Premier Advantage Checking account;
- Receive qualifying direct deposits in the account totaling $1,500 or more within 60 days of account opening.
- To qualify for the $100 savings reward, you must:
- Open a savings or money market account linked to a new Advantage, Advantage Plus or Premier Advantage checking account within 5 business days of opening the checking account with a $25 minimum opening deposit
- Maintain a Minimum Daily Balance in the account of at least $10,000 for 60 continuous days following account opening.
Eligibility
- This offer is for new checking customers only. which means any account owner cannot currently have a People’s United personal checking account within the last 180 days.
- One reward per household.
- Available in MA and NY only.
Fees
- 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
- Savings account doesn’t have a monthly fee.
If the checking account is closed within 6 months of opening, bonus amount might be deducted.
Referral Bonus
There is also a $50 referral bonus for both parties, but I am not sure if it stacks with the $400 bonus. Let me know if it has worked for you in the past. I would guess not, but here are the requirements:
- Complete one (1) direct deposit of at least $100 or more into the new personal checking account, OR
- Make at least ten (10) debit card purchases of at least $25 each that post to the new personal checking account
Guru’s Wrap-Up
To get the $300 checking account bonus you would need a balance of $75K to waived the $30 monthly fee. So it’s probably best to go for the $200 checking bonus and the $100 savings bonus. With the $10K that is required for the savings bonus you would also waive the $25 monthly fee on the checking account.
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
- Promo Code: BONUS21
- Bonus: Up to $400
- Account Type: Advantage Plus Checking, Advantage Checking, Premier Advantage Checking, and Savings
- Availability: MA, NY
- Inquiry Type: Soft pull
- Opening Deposit Credit Card Funding: Unknown
- Direct Deposit Requirement: $1,500
- Other Requirements: $10K balance for Savings bonus
- Monthly Fee: $25/$30 (waived with $7,500 or $75K balance)
- Early Closing Fee: None (must keep it open for 6 months to receive bonus)
- Expiration Date:
11/30/201/29/213/19/21
