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$150 Checking Account Bonus at Amalgamated Bank

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Amalgamated Bank
Update 10/11/07: Promotion has been extended to 12/31/07.

Amalgamated Bank is offering up to $150 cash bonus for the following: $75 for opening a free checking account and starting direct deposit in the first 3 months, $25 for signing up for a debit card and making 3 purchases in the first 3 months, $25 for enrolling in online banking and paying 3 bills online in the first 3 months, and $25 for opening a CD or a savings account. The offer code is 0507, and the promotion ends 8/31/07. The promo page (pdf) is on their home page.

I called their toll-free number at 1-866-290-3246, and the banking rep said that you can apply for accounts online. In the application there's a field for the promo code. I was told that people from any state are eligible. You do have to mail in the signature card and copies of your ID. The banking rep said that they do a ChexSystem verification when you apply, but she didn't think a hard credit pull was done.

Details of the accounts are available at this page. The Standard Checking and the Statement Savings Account have no minimum deposit or balance requirements and no monthly fees. The savings account rate is low, so you definitely don't want to make this your main savings account. According to the FAQ page, the first 50 checks are provided free.

I last reported on this bank in the spring when they were having a 5.50% CD promotion.

You can also open this checking account at one of their branches which are located in New York, New Jersey, Washington DC and in Pasadena, California. The bank has been FDIC insured since 1934.

Credit for this find goes to FW member bigpoppabear who posted the promo info on this FW thread.

  Tags: Amalgamated Bank, checking account

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Comments
7 Comments.
Comment #1 by Kevin (anonymous) posted on
Kevin
Nice! Even the CD sounds good. If you put in the minimum $500 for 1 year on their Usave Time Deposit you will get a total return of 15.15%.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Yes, their current 1-year CD pays 5.15% APY which isn't bad (see rate table). Perhaps they'll being offering their 13 month CD special again some time in the future.

1
Comment #3 by Richard (anonymous) posted on
Richard
Any idea if Paypal transfers count as Direct Deposit here?

1
Comment #4 by Anonymous posted on
Anonymous
I called the washington dc office, and was told they do indeed do a hard credit pull.

1
Comment #5 by Anonymous posted on
Anonymous
I opened the checking & savings accounts online and did not get a hard credit pull.

1
Comment #6 by Kevin (anonymous) posted on
Kevin
Has anyone opened account with them to see if PayPal or ING works?

1
Comment #7 by Anonymous posted on
Anonymous
I just spoke to the DC branch and they said this offer has been extended until 12/31/07.

1