Bryn Mawr Trust is currently offering a $200 bonus when opening a new consumer checking account.
- Open any new BMT consumer checking account with a minimum of $50.
- Within 90 days of account opening either 1) have a minimum of 15 debit card purchases, OR 2) enroll in online banking and complete six bill payments, OR 3) receive two qualifying* direct deposits.
- Bonus will be credited to the new checking account between 90-120 days after the above requirements are met.
*a recurring deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited by an employer or an outside agency into the checking account.
- Only available to new customers (not having a BMT deposit account in the past 12 months) opening any BMT consumer checking account.
- Current checking account clients or employees of BMT and their family household members, its parents and subsidiaries and affiliated companies are not eligible for bank deposit.
- Checking account must be opened and in good standing when bonus is credited.
- Only one bonus per household.
BMT has five consumer checking accounts (Free Checking, BMT Proven Checking, Centennial Gold 50 Checking, Proven Choice Checking, Fresh Start Checking), all of which qualify for the $200 bonus. The promotion page provides a comparison chart that details the features and fees of BMT’s checking accounts.
Thanks to DA reader, terryb, for his Forum post about this nice checking bonus.
Headquartered on Pennsylvania’s Main Line, Bryn Mawr Trust’s market area includes Chester, Delaware, Dauphin, Montgomery, and Philadelphia Counties in Pennsylvania, and New Castle County, Delaware.
The promotion page suggests that an appointment must be scheduled to apply for the bonus, but CSR stated an appointment was not necessary. CSR added that an appointment is meant as a convenience for the customer by lessening the chances of having to wait.
Bryn Mawr Trust has 34 Pennsylvania branches and a single branch in Wilmington, Delaware.
Bryn Mawr Trust has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.43% (excellent), based on December 31, 2016 data. In the past year, BMT has increased its total deposits by $286.07 million, an excellent annual growth rate of 13.17%. Please refer to our financial overview of Bryn Mawr Trust (FDIC Certificate # 11866) for more details.
The Past – The Bryn Mawr Trust Company was established in 1889, as a companion company to the Bryn Mawr National Bank. The National Banking Acts of 1863 and 1864 did not provide for savings account, with banks only accepting deposits and issuing loans. The Bryn Mawr Trust Company was formed to not only offer interest-bearing accounts, but to also participate in the insurance of land titles and trust business. The two institutions remained separate businesses until they merged in 1954.
The Present – Bryn Mawr Trust is currently Pennsylvania’s 13th largest bank, with assets in excess of $3.3 billion. In January, BMT announced it would be acquiring Royal Bank American, based in nearby Narberth. According to a January 2017 article in philly.com,
The merger, if approved by regulators and Royal shareholders, will add more than $600 million each in loans and deposits, boosting Bryn Mawr's assets above $4 billion and cementing its status as the largest bank based in Philadelphia's western suburbs. Bryn Mawr also manages more than $11 billion in clients' investments.
Other Bank Promotions and Bonuses
Not eligible for Bryn Mawr Trust’s checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.