Valley National Bank has two offers available for new checking accounts. One will give you $20 a month for a year and the other (for ages 17 to 25) a $150 bonus. Offers are available in CT, NY, NJ and PA only.
To receive the $20 monthly reward for the first year:
- Open a VNB All Access Rewards Checking with a minimum of $100 opening deposit
- Receive a cumulative total of $750 or more in qualifying direct deposits per month.
Transfers from one account to another or deposits made at a branch or ATM do not qualify as direct deposits. The first cash reward will be credited within 35 days of the monthly qualifying recurring direct deposit and may be IRS reportable. After the first year and if direct deposit is discontinued, the monthly reward will not be paid; the account will revert to a VNB All Access Checking account.
Open a new account with a minimum opening balance of $25 and receive
- $75 for activating Mobile Banking
- $75 for completing a minimum of 20 debit card transactions of $5 or more OR $75 for enrolling in online banking and completing three online bill payment transactions.
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 VNB My Choice Checking Account will automatically convert to a VNB All Access Checking Account.
The $20 per month offer was previously available in Brooklyn only. Now it’s available in CT, NY, NJ and PA and it is even better as it doesn’t require monthly bill payments, only a direct deposit. If you can manage a direct deposit of $750 per month, it should be a steady $20 monthly. The second offer for $150 is for ages 17 to 25 only. You need a balance of $100 to avoid monthly fees.