Banco Popular has a checking account bonus in which you can get up to $125 for opening their Totally Free Checking and meeting some requirements. The promotion is listed on Banco Popular's checking account page. To earn the full $125, the following is required:
- Up to $25 for your old debit card and unused checks at another bank
- $50 for adding direct deposit
- $50 for using Banco Popular's free online bill pay
There's also a free gift. According to the NY/NJ Banco Popular promo page, the gift is an Easy Living Folding Chair. Here's the small print:
Minimum opening deposit is only $50 ($25 in NY). Customer purchases checks. Bring in your debit card and unused checks from another financial institution and we’ll pay you up to $25. The first ACH direct deposit of $1 or more must be received within 60 days of account opening to receive the $50 cash payment. However, you may have up to an additional 1–46 day grace period beyond such initial 60 day period for the first ACH deposit of $1 or more to be deposited to your account. The duration of such grace period, if any, is dependent upon the day in the calendar month in which you open your account. The first bill must be paid by Bill Pay service within 60 days of account opening to receive the $50 cash payment. The cash payments for direct deposit and Bill Pay are limited to one payment per household, are subject to IRS form 1099-INT, and will be credited to your checking account within 60 days after all conditions have been met. Your account must be open to receive the cash payments. Offer may be withdrawn at any time.
Note that the small print states that the customer purchases checks. On the plus side, Banco Popular's Totally Free Checking has no minimum balance or monthly service charge.
A branch visit is required to open an account. Branches are located in California, Florida, Illinois, New Jersey and New York.
Banco Popular North America is a FDIC member (FDIC Certificate # 34967).