[Expired] [Farmington, NY] Lyons National Bank $500 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $500
• Availability: Says its Farmington branch only
• Direct deposit required: Yes, $500+
• Additional requirements: 12 debit card transactions
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: Unknown, unlikely due to in branch requirement
• Monthly fees: None
• Early account termination fee: $30, six months
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Lyons National Bank is offering a bonus of up to $500 when you open a new checking account. Bonus is broken down as follows:
  • $350 when you open your first new rewards checking account and have a single direct deposit of $500 within 60 days of account opening
  • $150 when you have 12 debit card point of sale transactions that post and clear within 60 days of account opening

The Fine Print

• To qualify for the $350 Cash Back reward you must open your first new rewards checking account and have a single direct deposit of $500 or more from your net paycheck from your employer, pension, or government benefits to this account within 60 days of opening this account.
• To be eligible for an additional $150 you must have 12 debit card point of sale transactions post and clear this account within 60 days of opening this account and also receive your monthly account statement electronically.
• Gift is reportable for tax purposes. Primary account holder will receive a Form 1099-INT. Monthly qualifications for Cashback, Free Rewards and E-Rewards Checking include direct deposit of your net paycheck from your employer, pension, or government benefits and receive e-statements.
• Qualifications must post and clear during the monthly qualification cycle.
• Intra-bank transfers do not count as qualifying transactions.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer a free checking account with no monthly fees to worry about.

Early Account Termination Fee

$30 early termination fee if less than 6 months. Have to go in branch to close.

Our Verdict

Nice big bonus, shame it’s only available at that branch. Previously Lyon Bank has offered a $175 bonus. Will add this to our list of highly regional specific bank bonuses.

Hat tip to reader Scott S

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