[NY, In Branch Only] Empire State Bank $250 Checking Bonus

Offer at a glance

Maximum bonus amount: $250

Availability: Must open in branch, all branches are in NY [branch locations]

Direct deposit required: Yes, $2,500+

Additional requirements: Deposit $25+ at account opening

Hard/soft pull: Unknown

ChexSystems: Unknown

Credit card funding: Unknown

Monthly fees: None

Early account termination fee: Unknown

Household limit: None listed

Expiration date: None listed

The Offer

Direct link to offer

Empire State Bank is offering a $250 bonus when you open a new checking account and complete the following requirements:

Deposit $25+ at account opening

Have a qualifying direct deposit of $2,500 or more made to this account within 90 days of account opening

The Fine Print

To receive the $250 checking bonus: 1) Open a new Empire State Bank Free Personal Checking account; 2) Deposit $25 or more at account opening; AND 3) Have a qualifying direct deposit of $2,500 or more made to this account within 90 days of account opening.

A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income electronically deposited through the Automated Clearing House (ACH) network to this checking account by your employer or an outside agency.

Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM, do not qualify as a direct deposit.

After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 90 days of account opening.Cash bonus is limited to one per person and subject to 1099 reporting

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

Much better than the previous $100 deal that was offered.

Hat tip to readers snailrock and brockrr

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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.