Deal has ended, view more bank account bonuses by clicking here.
Update 10/12/22: Extended till 10/22/2022
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: Yes, $500+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $500 with a credit card
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: Offer good until 10/13/2022
Contents
The Offer
- mph.bank is offering a $100 checking bonus when you open a new account and complete the following requirements:
- Set up a direct deposit totaling at least $500 per month within 60 days of account opening
The Fine Print
- Bonus paid 10 business days after, Direct Deposit(s): (i) totaling at least $500/month are set up; and (ii) are received within 60 days of account opening.
- Offer good until 10/13/2022.
- $25 minimum to open account.
- Additional Terms and Conditions may apply. All deposit products are provided by, and mph.bank is a brand of, Liberty Savings Bank, F.S.B. Member FDIC
- 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, but account can be closed if you don’t receive a direct deposit for 60 days.
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
Annoying that you need to keep a direct deposit to keep the account open. Still worth doing for some people and we will add this to our list of the best checking bonuses.
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
I zeroed out my account on 11/21 and on 4/21 received an email that my account was being auto closed due to a zero balance and no direct deposits. So, exactly 5 months total. Same happened to P2 and P3. I was planning on contacting customer service to close my account but just never got around to it. Now I don’t have to. I tried logging into my online banking and it showed that no accounts were available, so it was definitely closed. In the future I plan on looking out for more bonuses 12 months out, or churning with a Prodege/referral offer. Onward and upward.
Anyone received their 1099 yet? I only see an option for statements online.
Just passed the 3-month mark – With zero balance, tried to close via Chat today, and was told I had to send an SM.
Did that around noon – now locked out. When I try to log in, I get ” You have entered an incorrect password.”
Anyone know if they have a ETF fee/claw back. I’m ready to have account closed coming up on six weeks no DD
P2 closed it after 1 month via secure message and there was no clawback or etf at all.
10/12 account funded $25 from Capital One CC
11/9 Real DD $500
11/10 “MPH Special Bonus” $100 posted
Got this bonus for P1-P3. We all have similar timelines as shown below:
10/20 – Applied, application went to pending
10/26 – Received email to request phone call
10/28 – Selfies holding ID along with address verification documents were sent in by request during phone call
10/31 – Accounts approved, online banking logins created with account numbers given
11/2 – Linked account to Fidelity CMA for DD purposes
11/6 – Trial deposits confirmed, $500 DD from Fidelity CMA initiated
11/7 – $500 Fidelity CMA DD posted on each account
11/8 – $100 bonus received (“MPH Special Bonus”)
I was unable to fund my initial deposit with a credit card, but P2 and P3 used Citi Diamond and Wells Fargo autograph credit cards, and their funding both posted as a purchase ($500 each).
I plan on zeroing out my account and letting it sit. Does anyone think it will auto close, or is there a good reason to keep this account right now?
Can you fund any additional accounts with a credit card? I didn’t see a way to add additional accounts from within your account dashboard online, but I just might have missed it.
Careful. This stupid smiley face Bank did two inquiries on my Chex (separate days). I was not instant approved at the time, went to review and eventually approved.
I disputed the 2nd inquiry last night. Waiting.
Inquirer: LIBERTY SAVINGS BANK; 120 WEST SECOND STREET, DAYTON, OH 45402
Description: “This is a duplicate Chex inquiry. I only applied for one account with LIBERTY SAVINGS BANK and that application and Chex inquiry occurred on 09/30/2022. Request this Chex inquiry be removed or placed in the “Inquiries Viewed Only By You” section.”
P2 applied after the hurricane hit town and did not get two Chex inquires.
Did you submit any documents for your dispute?
I applied on 10/19/2022, and there’s an inquiry from Liberty Savings from the Sarasota address on the same day. However, Liberty did another inquiry on 10/27/2022, and that one is from the Dayton address. Looks like I’ll need to submit a dispute, too.
Nope – I did not. I got the response today and the OH inquiry has been moved to the Inquires Viewed Only By You section.
ieatdogfood 
Atomic
Mine was denied lol. I’m going to turn that happy sun smiley face inside down. I resubmitted the dispute with both inquiries rather than only one of them this time.
Yeah, Chex inquiry disputes are very YMMV. Had the same kind of thing happen with P1 or P2, even when submitting the same write-up and circumstance, but ended up with opposite results.
And yes, the best-case scenario is to get both of them removed, but I didn’t try that.
What I submitted: https://www.doctorofcredit.com/mph-bank-100-checking-bonus/#comment-1493183
Atomic
Deny deny deny. My life is deny. Third times a charm? I’m going to make them waste a lot of paper and mail. We doing the Gadget way copy/paste your lovely verbiage.
What ever happened after your second dispute submission? I tried to get one of the Chex inquiries off, but they denied it. The letter I got after resubmitting the dispute said it was a “frivolous claim” (lol) and to refer to the original decision document.
The trick is to get the inquiries moved from the Viewed By Others to Viewed Only By You section instead of getting them removed completely.
Tried a third time but changed the wording to just move to “Viewed Only by You” section. Still got the same response. Screw these guys.
God, Chex’s online form for disputes sucks. I tried submitting a dispute using the same information you provided in your dispute (except the date of inquiry), and I kept getting the errors below. It only went through after I removed all of the punctuation. I hope they don’t play stupid and try to claim the inquirer I listed isn’t there because the punctuation in the inquirer’s name doesn’t match exactly.
Dispute #1 : Source of the disputed information is invalid. Valid characters include letters, numbers and spaces. Punctuation or special characters (such as !, @, #) not allowed in the source field.
Dispute #1 : Nature of dispute is invalid. Valid characters include letters, numbers and all keyboard characters except the following: carat (^), semicolon (;) or square brackets ([ ]). Maximum length is 2000 characters.
Yeah, I ran into the same kind of issues. They don’t allow any punctuation at all in the bank name. I’m pretty sure the write-up section, it’s . . / only.
They will pursue it without proper punctuation in the name. It’s really fun for M&T bank and you have to type it out M and T Bank.
If you try to do a bunch at once the site does time out after a while, so I have learned to type them up beforehand, then copy/paste them into the form. Otherwise, you hit submit and it gives an error and stops. Hit the back button and the form will be empty.
How do you close this one?
Per DP’s… SM or call, probably once you have a zero balance. They have the ability to do messages from desktop online banking – not sure about the app? No ETF.
Closing this is on my to-do list, but keeping up appearances for now.
10/14: Opened with $500 credit card funding from Sofi
11/10: $500 real direct deposit
11/14: $100 bonus
opened account on 10/21, legit DD received 10/31, still no bonus posted as of 11/16/22. contacted them requesting bonus and told them i would contact CFPB if don’t get bonus ASAP.
Same but without the threat. P2 got their bonus immediately using same DD. Bit strange.
Second contact attempt successful, secure message via their site, asked for the bonus, posted next day.