Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Open to all residents in CT, MA residents in the following counties: Hampden, Hampshire & Worcester Counties, RI residents in Washington County
- Direct deposit required:Â Yes, no minimum specified.
- Additional requirements:Â None
- Hard/soft pull:Â Soft pull
- Credit card funding:Â Up to $1,000 per account
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â None listed
- Expiration date:Â August 31, 2023
Contents
The Offer
- Liberty Bank is offering a $300 checking bonus when you open a new checking account and complete the following requirements within 60 days of account opening:
- Make 5 debit card purchases
- Direct deposit of your payroll, social security, pension or government benefits
The Fine Print
- To ensure timely payment of your $300 incentive, please be aware of the following: Only available when opening PayBackSM Checking or Quarter Back® Checking. Consumer accounts only; one account per customer.
- All account holders on the account must be new consumer checking customers. You may not have had a checking account within the past 365 days.
- Direct deposit of your payroll, social security, pension or government benefits is required within 60 days of account opening OR 5 debit card transactions must be completed within 60 days of account opening (ATM transactions do not qualify). $300 will be credited to new PayBackSM Checking or Quarter Back® Checking account up to 60 days after first direct deposit transaction OR up to 60 days after completing 5 debit card transactions (ATM transactions do not qualify) while account is open. Offer ends 8/31/23, may be withdrawn at any time, may not be combined with other offers, is subject to change, and may be subject to 1099 reporting. No minimum balance required to obtain incentive.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Neither account has no monthly fees to worry about with eStatements
Early Account Termination Fee
We weren’t able to find any mention of an early account termination fee
Our Verdict
Previously we have only seen a $100 business/student or personal checking bonus. This new offer is much better than we’ve seen before and well worth doing.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Where’s the offer page? I can’t find it.
How often does Liberty offer this bonus, historically? Is it yearly in July? I need an account with them since I need a local credit union to accompany my Fidelity CMA.
Looks to be about every 4-5 years.
Closed account via SM
8/30/23: Account opened
9/28/23: 5 debit card payments, including Amazon reloads
10/19/23: real dd
11/17/23: bonus received
7/21/23: Account opened
8/3/23: 5 debit card insurance payments
9/15/23: $300 bonus received
DP DataPoint – Both Quarterback Checking, Middlesex County MA – County limitation no longer applies apparently:
P1:
08/02/23 – Open with $35
08/18/23 – Real DD – ~$300
08/18/23 – CC Payment
08/20/23 – 5 Amazon Reloads
09/15/23 – Bonus Payout
P2:
08/10/23 – Open with $25
08/20/23 – Amazon and TMobile Transactions, total of 5
09/15/23 – Bonus Payout
Only the debits were needed but my DD is pretty easy to change so I figured at least for P1 I’d do both. Nice easy bonus.
8/20/2023 Account Opened w/ $1k CC funding (SoFi CC earned cash back no cash advance)
8/25/2023 $100 Real DD
9/15/2023 $300 “Bonus Payment”
Super easy bonus and very fast payout
Opened last month. Used debit card >5x, fake and real DD in August. Bonus posted now.
Acc Opened 08/31
DD 08/15
Bonus 08/15
Promotion arrived three weeks ahead of expectation.
I did the debit purchases & fake dd for the hell of it.
Will use the account for a while before closing.