PeoplesBank Bonus, Get $200 with Now Checking Account

PeoplesBank has brought back its $200 sign up bonus for new checking accounts, and it is a bit different from the previous bonus that we saw earlier this year. The account can be opened either online or in branch, but it’s available only in MD & PA.

Offer

To qualify for the $200 bonus, you must open a new PrimeTime or Momentum account and:

Receive at least one direct deposit in the amount of $350 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.

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

A good bonus of $200 that requires only a direct deposit of $350 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.