[Expired] [NJ/NY] Lakeland Bank $300 Checking Bonus

Deal has ended, view more Lakeland Bank deals by clicking here.

Offer at a glance

• Maximum bonus amount: $300
• Availability:  NJ/NY
• Direct deposit required: Yes, $1,500+
• Additional requirements: Use promo code
• Hard/soft pull: Soft pull
• ChexSystems: Yes, not sensitive
• Credit card funding: Up to $1,000
• Monthly fees: $6
• Early account termination fee: $300, six months
• Household limit: None listed
• Expiration date: December 31, 2020

The Offer

Direct link to offer

• Lakeland Bank is offering a $300 when you open a new checking account and complete the following requirements:
  • Use promo code BONUS20
  • Require direct deposits totaling $1,500 or more within 60 days of account opening

The Fine Print

• Offer valid on new consumer checking accounts opened through December 31, 2020.
• Must use promo code provided at account opening.
• Not available to existing Lakeland Bank checking account customers or those whose accounts have been closed in good standing within 12 months, or closed with a negative balance at any time.
• Offer not available for account conversions.
• Offer limited to one $300 cash bonus, per individual taxpayer identification number; requires qualifying direct deposit(s) totaling $1,500 or more into account within 60 days of account opening.
• A qualifying direct deposit is a deposit of a paycheck, pension or other regular monthly income (including Social Security) electronically deposited into account. Personal transfers or deposits made at a branch, online or ATM do not qualify.
• Lakeland Bank will fulfill bonus within 45 days of qualification.
• The value of the bonus will be reported to the IRS on form 1099-INT. If the account is closed within six (6) months of account opening and the cash bonus was received, the value of the cash bonus will be deducted from the account.
• Offer may be withdrawn or changed at any time without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

There is a $6 monthly fee, this is waived with a $250+ minimum balance.

Early Account Termination Fee

Account needs to be kept open for six months or bonus is forfeit.

Our Verdict

There was a $300 bonus that didn’t require a direct deposit, but that was in branch only. This is a nice big bonus that can be done online and requirements aren’t difficult to meet. This will be added to the best bank account bonusses.

Hat tip to reader Mark

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