Offer at a glance
- Maximum bonus amount: $100
- Availability: Must live or work in New Jersey
- Direct deposit required: Yes, no minimum listed.
- Additional requirements: One Bill Pay
- Hard/soft pull: Unknown
- Credit card funding: No
- Monthly fees: $0
- Early account termination fee: None
- Expiration date: None listed
The Offer
- Receive up to $100 when you open a high rate checking account from Columbia bank
- $50 when you make one qualifying direct deposit
- $50 when you complete one Bill Pay online
The Fine Print
- Offer is only available to new customers
- Bonuses will be paid out within 60 days of the requirement being met
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees and no early account termination fees either. You can view the full fee schedule by clicking here.
Our Verdict
This is one of the few checking accounts with a sign up bonus that also offers a high rate of interest. At the time of posting you receive a 1% APR on balances of $10,000-$249,999. To get this rate you need to complete at least one bill pay or direct deposit per month, which means this is actually a rewards checking account. Thankfully the requirements are pretty low to keep this high interest rate and they’ve been offering a similar rate for at least two years, so it doesn’t look to be a bait & switch tactic.
Unfortunately there is no data on whether this is a hard or soft pull to open. We believe it might be a hard pull due to some of the language on the online application form (seen below).
We’re also unsure what will trigger the direct deposit requirement, so to be on the safe side you’d need to use an employer payment. If you do decide to do this deal, please share any additional information you can with us in the comments section.
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