DOC Compass — Offers, decoded

Offer has expired, you can view new offers here.

Offer at a glance

Maximum bonus amount: $200 for checking & $100 for savings
Availability: Northeastern PA only
Direct deposit required: Yes or recurring credit, must total $400+
Additional requirements: EZ Statements & 5 point of sale transactions
Hard/soft pull: Soft
ChexSystems: Yes
Credit card funding: Up to $500, all credit card payment networks are accepted (e.g Visa, Mastercard, American Express & Discover)
Monthly fees: $2-$7, waivable
Early account termination fee: 180 days, unknown fee
Expiration date: None listed

The Offer

Direct link to offer

Fidelity Bank is offering $200 for opening a checking account and $100 for opening a savings account. Here are the two deals:
- Open a new checking account, complete the following requirements (within 60 days of account opening) and receive a bonus of $200:
  - Enroll in EZ Statements
  - Activate Fidelity VISA Check Card and complete 5 point of sale transactions
  - Receive direct deposits or recurring credits totaling $400+
- Open a new savings account within 30 days of opening checking account and receive a bonus of $100 when you:
  - Deposit $10,000 or more of funds not currently held with Fidelity Bank, according to this comment this needs to be done at account opening.
  - Maintain a balance of at least $10,000 for sixty days after account opening

fidelity bank

The Fine Print

Offer valid for customers who currently do not have an existing personal checking account at Fidelity Bank.
A $200.00 deposit will be earned when the following requirements are completed: Direct deposit(s) or recurring credit(s) totaling $400.00 are received, enrollment in EZ Statements is completed and a Fidelity VISA® Check Card is activated and five (5) point-of-sale transactions are processed.
All requirements must be satisfied within sixty (60) days of account opening;
Deposit will be made on the sixty-first (61st) business day from account opening.
Minimum deposit to open a checking account may range between $25.00 and $100.00, minimum balance requirements and monthly service charges depend on which checking account is chosen.
Offer is valid beginning May 31st, 2016 and may be rescinded or changed at any time.
**Offer valid within thirty (30) days of opening of a new personal checking account at Fidelity Bank.
A $100.00 Deposit will be earned if a new personal savings account is opened with at least $10,000.00 of money not currently held on deposit with Fidelity Bank.
A daily balance of at least $10,000.00 must be maintained for sixty (60) days from account opening.
Deposit will be made into your personal checking account on the sixty first (61st) business day from savings account opening.
For certain Fidelity Bank savings accounts, the annual percentage yield (APY) is 0.05% for balances over $100. APY is current as of May 31st, 2016. Minimum balance requirements and monthly service charges depend on which savings account is chosen.
Customers may only receive one (1) new checking account and savings account opening-related bonus per calendar year.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Reliance Checking $7 Monthly Fee

This account is the easiest to keep fee free, the $7 monthly charged is waived if you do any of the following:

$1500 average daily balance OR
$400 aggregated monthly direct deposit
or ten (10) signature based Fidelity Visa® Check Card transactions

Statement Savings $2 Monthly Fee

This is waived if you have a balance over $100

Early Account Termination Fee

There is a fee if closed within 180 days, but I’m unsure what this fee is.

Our Verdict

They have offered the same $300 bonus in the past as well. This looks like a pretty good deal, it’s a soft pull and it doesn’t actually look like they require a traditional direct deposit (e.g any recurring credit will count). I’m interested to see what the maximum you can fund with a credit card is. We’ve added this to our list of the best bank account bonuses. They also have a $200 business checking account bonus as well.

Big thanks to reader, Andrew who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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