Valley National Bank has two offer available. One offer is available in branch in Brooklyn, NY only, that pays $20 a month, similar to the discontinued offer from Santander Bank. The other offer is for a $150 sign up bonus but only in CT, NY, NJ and PA and only for young adults (age 17 to 25).
$20/Month Offer (Expired)
To receive the maximum of $20 per month, you need to open a VNB Brooklyn Choice Checking with an initial $100 deposit. Then there’s two requirements that wil net you $10 each
- Monthly direct deposit of $750 or more to receive a $10 reward
- Pay three bills monthly using VBankWorks to receive another $10 reward
New checking customers only, limit one account per person. No monthly fee when you maintain a daily ledger balance of $99; otherwise, a $15 fee will apply. Offer may be withdrawn or modified without prior notice. (HT: DoC)
$150 Sign Up Offer
Open a new account with a minimum opening balance of $25 and receive
- $75 when you enroll in mobile banking and
- $75 for scheduling a recurring merchant bill payment or initiating a monthly direct deposit.
Requirements must be fulfilled within 60 days. Bonus will be paid out within 90 days of account opening. There’s no monthly service fee for this account and at age 26, the account automatically converts to a Perfect Checking Account. (HT: DoC again)
Guru’s Wrap-Up
I would have tried the $20/monthly offer, but I already have an account which I should have closed a long time ago (have to go in-branch). Also DoC points out that Valley National Bank might not approve you if you have more than three ChexSystems inquiries in the last six months. And it I couldn’t find any data points on what qualifies as a direct deposit. Two transfers that I did showed up as “NATIONWIDE BANK TRANSFER” and “CAPITAL1 P2P”, which really doesn’t tell much. If you’re under 26 years old, then the second offer looks very enticing. No fees and no direct deposit requirement.
If this bonus is not for you, then you can check our full list of available bank bonuses.
