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Offer at a glance
- Maximum bonus amount: $300
- Availability:Clifton, NJ branch only. (11 Ackerman Avenue, Clifton, NJ 07011)
- Direct deposit required: Optional
- dditional requirements: Use promo code CLIFTONDG
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: None
- Monthly fees: $6 avoidable
- Early account termination fee: $200, six months
- Household limit: One
- Expiration date: June 28th, 2019
The Offer
- Lakeland Bank is offering a bonus of $300 when you open any personal checking account and complete the following requirements:
- Use promo code CLIFTONDG at Clifton Branch in NJ
- Complete one of the following requirements:
- Receive direct deposits totaling $500 or more within 45 days of account opening
- Make 6 debit card purchases that post to your account within 45 days of account opening
The Fine Print
- For qualifying checking accounts opened under this Promotion, customers have the opportunity to earn the $300 bonus as follows: 1) Offer valid on new consumer checking accounts opened at the Clifton office only through June 28, 2019. Excludes Renewal Checking. Not available to existing Lakeland Bank checking account customers or those whose accounts have been closed in good standing within 12 months, or closed with a negative balance at any time. Offer not available for account conversions.
- Offer limited to one (1) $300 cash bonus, per individual taxpayer identification number; requires qualifying direct deposit(s) totaling $500.00 or more into account within 45 days of account opening. A qualifying direct deposit is a deposit of a paycheck, pension or other regular monthly income (including Social Security) electronically deposited into account per statement cycle. Personal transfers or deposits made at a branch, online or ATM do not qualify. Lakeland Bank will fulfill bonus within 45 days of qualification. The value of the bonus will be reported to the IRS on form 1099-INT.
- If the account is closed within six (6) months of account opening and the cash bonus was received, the value of the cash bonus will be deducted from the account.
- Offer may be withdrawn or changed at any time without notice. 2) Or complete a minimum of six (6) debit card purchases that must post to the account within the first 45 days of account opening (not including ATM transactions).
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Classic checking is the easiest account to keep fee free. There is a $6 monthly fee that is waived with an average daily balance of $250.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee
Our Verdict
Better than the $200 Amazon gift card bonus they have offered before, downside is that this account needs to be open in branch. We weirdly still don’t know if this is a hard or soft pull to open. If it’s a soft pull we will be adding this to our highly location specific bank account bonus section.
Hat tip to reader Logan
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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