[AL, CT, D.C., MD, VA, WV, FL, NJ, NY, and PA Only] Valley National Bank $400 Checking Bonus ($20 Per Month)

Offer at a glance

• Maximum bonus amount: $400
• Availability: AL, CT, D.C., MD, VA, WV, FL, NJ, NY, and PA Only
• Direct deposit required: Yes, two direct deposits totaling $7,500
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Unknown. Chexsystems sensitive, might be less so in branch.
• US Citizen: US Citizen or US Permanent Resident only
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Valley National Bank is offering a sign up bonus of $400 when you open a new Valley All Access Checking+ and completing the following requirements:
  • Receive two or more qualifying direct deposits with a cumulative total of $7,500 or more within 90 days of account opening

The Fine Print

• Minimum to open is $100.
• No monthly maintenance charge for 12 months from account opening.
• After that, monthly maintenance charge of $15 will be incurred if daily balance of $99 is not maintained.
• To receive the $400 reward, the account must receive two or more qualifying direct deposits with a cumulative total of $7,500 or more within the first 90 days from the date of account opening.
• Qualifying direct deposits are defined as recurring payroll direct deposits or electronic deposits of pension or government benefits such as Social Security that are made by an employer or other payer using the account and routing numbers that you provide to them.
• Transfers from one account to another, online or mobile banking deposits, or deposits made at a branch or ATM do not qualify as direct deposits.
• This reward is being provided for the use of the product and services established.
• The one-time $400 reward will be credited into your account within 30 days after: (1) the qualifying direct deposit requirement has been satisfied and (2) the account has been opened for a minimum of 90 days. Reward may be reportable as taxable income.
• To be eligible for the cash reward, all account holders must have no other Valley personal checking accounts within the one-year period preceding the date of account opening.
• The reward is limited to one per Valley All Access Checking+ account.
• All subsequent checking accounts opened by the account holder(s) after the initial checking account will not be eligible for the promotional reward.
• Offer may be withdrawn or modified without prior notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

$15 monthly fee:

• Waived for first 12 months
• After that, monthly maintenance charge of $15 will be incurred if daily balance of $99 is not maintained

Early Account Termination Fee

There is no early account termination fee.

Our Verdict

Unfortunately they are ChexSystems sensitive. This is a better offer than the $20 per month offered in the past. Worth doing if you have a low Chex count and maybe worth trying to do in branch with a higher count but I suspect most readers will be denied. We will add this to our best bonus page though.

Hat tip to Bank Account Bryan

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