PeoplesBank Bonus, Get $400 with New Checking Account

November 10, 2023

PeoplesBank $400 Bonus

PeoplesBank is offering a $400 sign up bonus for new checking accounts. The account can be opened either online or in branch, but it’s available only in MD & PA. Check out the details of this latest PeoplesBank bonus below.

Offer Details

To earn the $400 bonus, the following requirements must be met:

You must open a new personal checking that is one of the following product types: PrimeTime or Momentum.
This new checking account must be your first personal checking account relationship with PeoplesBank in the past 24 months.
You must receive at least one direct deposit in the amount of $1250 or more to your newly opened PeoplesBank checking account within 45 days of the account opening. (Deposits in the form of an external transfer from another financial institution, an internal transfer from another PeoplesBank account, or deposits received through any person-to-person app such as Venmo or Zelle, do not qualify as a direct deposit to the account.)

All checking accounts require a $25 minimum opening deposit. Bonus will be paid in the form of a statement credit to the account after the 45 day period and may take up to two statement cycles to appear.

Eligibility

Offer is available in MD & PA only.
This new checking account must be your first personal checking account relationship with PeoplesBank in the past 24 months.

Account Fees

Checking account fees are as follows:

PeoplesBank Momentum Checking has a $5 per month fee that you can avoid if you opt into e-statements.
PeoplesBank PrimeTime Checking has a $3.00 per month fee if balance falls below $300 minimum any day during statement cycle

A premature account closure fee of $100 will be assessed for accounts closed within 90 days of account opening.

Guru’s Wrap-up

This is the best bonus we have seen from PeoplesBank. You can now get $400 in cash, but you also need to have direct deposits of $1250 or more. If you can manage that, and are in one of the eligible states, then you should go for this PeoplesBank bonus.

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.