Amalgamated Bank is offering a checking account promotion in which you can earn a bonus of up to $100. It does require some work and patience. The promotion is shown in a rotating ad on the bank's home page. Promotion details are listed in this bank's promotion page. To qualify you must open a new personal checking account before 12/31/2012. It then requires the following:
- Set up direct deposit of $250 or more into your new account within 60 days of account opening
- Make debit card purchases that total at least $10 for each month for 10 months
If you meet these requirements, the bank will deposit $10 into your new account within 7 business days after the end of a calendar month. According to the instructions in the promo page, the checking account can be opened at a local branch or online. The promotional code is 0912 for the online application. Below is a copy of the offer's small print that's at the bottom of the bank's promo page:
Offer available on new personal checking accounts opened before 12/31/2012 with new monies. There is no minimum opening deposit and no requirement to maintain a minimum balance to earn the bonus amount.
To qualify for the monthly bonus, your total debit card purchase transactions (POS) must be equal to or greater than $10.00 per month AND you must set up a recurring direct deposit of $250 or more into your new account within 60 days of account opening. Bonus is $10.00 per month for the first 10 months your account is open and will be deposited into your new account within 7 business days after the end of a calendar month. Total bonus cannot exceed $100. The value of the bonus will be reported to the IRS. Consult your tax advisor. If your checking account is not in good standing, you may not receive the benefit of the bonus. This offer is not available in combination with any other checking account offer or if you received any previous checking account bonus offer within the past 12 months. All accounts are subject to our normal account opening process. Offer limited to one bonus per customer. Existing checking account customers are not eligible.
© 2012 Amalgamated Bank. All rights reserved. Offer Code 0912
The bank's Basic Checking account is a free checking account with no monthly maintenance charge and no minimum balance requirement. All of the bank's checking accounts allow free access to Allpoint ATMs.
Update 11/27/2012: I was informed by the bank's chief marketing officer that people in any state are eligible to open the account online. Also, I was informed that the customer service had been affected by Hurricane Sandy.
There's an online application, and the promo page makes it sound like people in any state can apply online with the promo code and qualify for the bonus. I tried to confirm this by contacting the bank by email and by phone, but I was never able to reach someone who could answer my online application questions. My email sent via the bank's contact form was never answered. One phone call was forwarded to the wrong department. Another call was forwarded to voice mail. I left a message and my number, but no one returned my call.
In summary, I would be hesitant to apply online unless you have better luck with the bank's customer service. You will probably have better luck by visiting a branch.
Most of Amalgamated Bank branches are located in New York City. The bank also has branches in Lyndhurst, NJ; Pasadena, CA; Washington, DC; and Las Vegas, NV.
The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas ratio of 27.24% (average) based on June 2012 data. Please refer to our financial overview of Amalgamated Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 622).
Other Bank Bonuses
We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.