Update 8/2/26: $400 deal is back with promo code HOLYOKE. Mentioned here. Hat tip to reader snailrock
Update 7/18/26: Deal is back and now $400 instead of $250. Also available in VT, NH.
Update 6/12/22: Deal is back.
Update 6/12/21: Bonus increased to $250 and requirements are easier. Hat tip to reader Kamil Sultan
Offer at a glance
- Maximum bonus amount: $250
- Availability:
- MA Hampshire, Franklin, Hampden, Berkshire, or Worcester
- CT Hartford, Litchfield, Tolland, or Windham
- VT Windham or Bennington
- NH Cheshire
- MA Hampshire, Franklin, Hampden, Berkshire, or Worcester
- Direct deposit required: Yes
- Additional requirements: eStatements
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, Chexsystems sensitive
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None
The Offer
- Florence Bank is offering a bonus of up to $400 when you open a new checking account and complete the following requirements within 60 days of account opening:
- Use promo code VALLEY
- Receive qualifying direct deposits totaling $1,500 or more within 90 days of account opening
The Fine Print
- To earn the $400.00 account bonus deposit, you must open a new personal checking account online or at any of our branches using Promo Code VALLEY and set up and receive Qualifying Checking Account Direct Deposits totaling $1,500.00 or more within 90 calendar days of account opening.
- This offer is only available to new personal checking customers and is limited to one per customer.
- Florence Bank employees and all existing Florence Bank checking customers, including those with any relationship to any other Florence Bank checking account, or those who closed a checking account within the last 180 calendar days, are not eligible.
- Qualifying Direct Deposits are regular, periodic automated clearing house (ACH) credits, which may include payroll, salary, pension, or government payments (such as Social Security).
- Deposits from the Real- Time Payments (RTP) network, payments through peer-to-peer networks such as PayPal, Zelle, Venmo or others, do not qualify as direct deposits.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
All checking accounts they offer have no monthly fee to worry about.
Early Account Termination Fee
According to the fee schedule there doesn’t seem to be any early account termination fee.
Our Verdict
They have offered a very similar bonus in the past as well, but that required singing a song instead of mobile banking. Seems like a good bonus if it turns out to be a soft pull. If anybody goes for this bonus then please share your experiences in the comments below.
Hat tip to reader Ryan M
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
BofA UCR coded as purchase for CC funding
Well at least a referral page so people can support you for posting so many bonuses!
Haha! The gravatar thing freaks me out a little tbh, I don’t really like the idea of a specific image following my email around on the Internet. So probably will be remaining a faceless ideogram for a while longer sadly
Thanks, snail. When you gonna add your referral links and gravatar? 🙂
William Charles Old link is gone. There’s a new $400 bonus with promo code HOLYOKE though for their new branch. It’s advertised in the Holyoke Sun (page 3); don’t see any mention of a dedicated link. There’s this terms and conditions page though, which the old VALLEY bonus was on and is no longer https://www.florencebank.com/tc-disclosure https://sun.turley.com/hs-archives/HOL071026.pdf
I called them to request reconsideration – they told me that the reason for denial is lot of recent chex inquiries (they are serving Hartford county; and denial in my case is not because of location; because my work location is MA, and the bank is right next to my office)
Yes. I’m from Hartford county
Applied in Hartford county on 7/19 and was approved. Received an email today (7/22) saying account closed due to Chex, then another email shortly after saying “After management review, Florence Bank will no longer be able to service your account.”
Link goes to a “Not Found” page now, offer might be over.
Hmm. Maybe it went to manual review because of location, and Chex was pulled then?
Auto approved over the weekend, but then was closed due to chex on Monday.
Sadly I am now an ex-existing customer 🙂 …like Prat, they pulled my chex the 1st business day after i opened it, and then closed it due to Chex #. I’m from Hartford
Are you sure your Chex wasn’t pulled? If it wasn’t, are you an existing customer maybe?
Are you also from Hartford CT County, or was that a copy/paste typo?
They closed the account on the first working day stating chex.
Pulled ChexSystems
Applied for Hartford CT County, no chex pull and was approved instantly. Should I be worried about terms that state – offer “ Available as of May 1, 2026. “; but it doesn’t state when it ends/expires?
Applied from Hartford CT County, no chex pull and was approved instantly. Chex stats are 4/1, 11/3, 19/6, 31/12. thanks for another easy win Doc!
CC funding is $500/account, not 6k unfortunately I wrote a full DP here . Approved in-state Chex 1/1, 3/3, 7/6, 17/12, 31/24, 40 total (prior to DoC effect)
I think now is taken down for good, I’m trying to apply but I don’t see any mention of the bonus anywhere.
Just another Masshole Can you check Chex report??
I opened a checking account with this offer and got email confirmation the account was approved the next business day after submitting the online application. I checked all three credit bureaus: no hard pull, and no soft pull either.
Tyrone Danger Your card was denied because your card’s billing address didn’t match the zip code you listed on the application
Tyrone Danger I didn’t suggest using a zip code not your own, just that that is one area valid for this offer. I wouldn’t expect using an incorrect zip code would go well.
Tried to apply OOS with an “address” in Chicopee as suggested below. I’m currently awaiting review so not expecting success but will update if that changes. Also of note, Chase Freedom Flex was denied, probably since my cash advance limit was set at $100, so be aware of that.
Zip codes near Boston are also not allowed (like last time). Chicopee zip code works, I didn’t check others. So, looks like you have to be near a branch. Still worth trying each time, never know if they change something.
William Charles I tried my southern CT zip code, ineligible. I tried the biggest cities in CT, ineligible. I tried the CT zip codes closest to their branches, ineligible. If this is available anywhere in CT it’s certainly not obvious where.
William Charles Offer is back again. Terms are still the same. I misread the fine print earlier. I guess what it should mean is that it should still be around as of May 16, 2022. Anyway, I got the full $250 bonus and it looks like Chase ACH counts as a direct deposit.
Looks like they took down the offer pre-maturely. No longer see the promo page. Fortunately I took a screenshot in case I ever need to dispute.
William Charles Looks like WF Biz Plat card codes it as a purchase. Going to try ACH push with Chase and wait 2 weeks to see if bonus posts. If that doesn’t work, then next up will be either Discover/Venmo/ or Paypal. If none of those work after waiting 2 weeks each, then going to use real DD.