[Expired] [NJ only] 1st Constitution Bank $200 Checking Bonus

This bonus has expired, you can view the best bank bonuses here. Or click here to see if there is a new 1st Constitution Bank.

Offer at a glance

• Maximum bonus amount: $200
• Availability: NJ, must present coupon in branch with Signature card [Branch locator found here]
• Direct deposit required: Yes, no minimum mentioned
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: None 
• Monthly fees: $15, avoidable
• Early account termination fee: Six months, bonus forfeit
• Household limit: None
• Expiration date: May 15th, 2017

The Offer

Direct link to offer

• Open a new Easy Pay Checking account with 1st Constitution Bank online and receive a bonus of $200 when you complete the following requirements:
  • Deposit $100 or more at account opening
  • Have your direct deposit made to this account within 60 days of account opening
  • present your coupon with offer code WELCOME200 when you submit your signature card (coupon can be generated online)

The Fine Print

• Bonus/Account Information: Offer not available to existing 1st Constitution Bank checking customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.
• To receive the bonus: A ) Open a new Easy Pay Checking account online only, which is subject to approval; B) Deposit $100 or more at account opening; C) Have your direct deposit made to this account within 60 days of account opening; and D) present your coupon with offer code WELCOME200 when you submit your signature card.
• Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
• After you have completed all the above requirements, we’ll deposit the bonus in your new account within 10 business days.
• You can receive only one new checking account related bonus each calendar year and only one bonus per account.
• Bonus is considered interest and will be reported on IRS Form 1099-INT.
• Offer not available for 1st Constitution Bank employee accounts, account conversions or in combination with any other offer.
• If there is not a recurring direct deposit, the account will revert to a Regular Checking account which requires a minimum daily balance of $100 to avoid monthly service fee of $15.
• Account Closing: If the checking account is closed by the customer or 1st Constitution Bank within six months after opening, we will deduct the bonus amount at closing.
• This special offer expires on May 15, 2017.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The Easy Pay Checking account has a $15 monthly service charge, if you receive a direct deposit this fee is waived. If there is not a recurring direct deposit the account will revert to a regular checking account ($100 minimum balance to avoid the monthly service fee of $15).

You forfeit the bonus if you close the account within 6 months. I’m not sure if the above forced account conversion would count as a cancellation and you forfeit the bonus or not.

Our Verdict

I’m a bit worried you need a direct deposit for six months to actually get the bonus (read the fees section above). Apart from that concern there is a pretty good bonus if you live in the target area, because of that I will add it to our best checking promo page.  They have also offered a bonus of $250 with no requirements before, but that was only for students.

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