[NJ only] Columbia Bank $400 Checking Account Bonus/$400 Savings Bonus

Update 6/23/24: There is now a $400 savings bonus as well.

Update 3/16/24: Bonus is back and $400 this time.

Update 9/23/23: Deal is back and $300 this time.

Update 9/19/20: Bonus is back, but bonus reduced to $200 (from $250). Hat tip to reader Maria

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Must live or work in the State of New Jersey
  • Direct deposit required: Yes, $1,000
  • Additional requirements: 10 debit card purchases
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $1,000
  • Monthly fees: $9, avoidable
  • Early account termination fee: Account must be opened at time of bonus posting
  • Household limit: None listed
  • Expiration date: None

The Offer

Direct link to offer

  • Open a new Columbia bank cash back checking and receive a bonus of $300 when you complete the following requirements:
    • $300 for receiving a qualifying direct deposit of at least $1,000 within 60 days of account opening
    • $100 for 10 debit card purchases within 60 days of account opening
    • Earn An Additional $400. When you retain a balance of $25,000 or more for at least 120 days after account opening. See full disclosure to learn more about bonuses available for lower retained balances

 

 

The Fine Print

  • You are permitted to receive only one of each of these bonuses irrespective of the number or type of checking accounts you open.
  • To receive any of the aforementioned bonuses, the account must still be open at the time we are ready to credit the funds (within 60 days of qualifying) and at all times the account was in good standing.
  • If you have ever received a new account opening bonus in the past, you are not eligible for either of the cash bonuses even if you open a new Advantage Plus Checking Account.
  • If you have received a cash and/or subscription bonus associated with a Yield Plus and/or Advantage Plus checking account within the 365 days preceding the opening of this new checking account, you are not eligible for either of these cash bonuses. Doesn’t look like this is still there and readers report being able to get bonuses more often than that.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

$10 Monthly Fee

Avoid a $10 monthly maintenance service charge by conducting 10 POS debit card transactions or receiving $1,000 or more in direct deposits per statement cycle. For clients 22 or under, this charge does not apply

Early Account Termination Fee

Account must be open at the time of bonus posting

Our Verdict

Best bonus they have offered in the past has been $500 so  this isn’t as good as that. Might still be worth doing for those that missed out on that bigger deal. Because of those factors this is going in our best checking promotions list.

Useful posts regarding bank bonuses:

Post history:

  • Update 1/4/20: Bonus has been extended and you can now fund with a credit card up to $1,000.
  • Update 8/26/19: Bonus is back but has been reduced to $250 (from $300)
  • Update 1/26/19: Deal is back. Hat tip to reader Fly.
  • Bonus has been improved and you now get $200 for a direct deposit. Still not as good as the $500 bonus they have previously offered.
    William Charles
  • On June 23, 2024, 23:45

View Comments (475)

  • @2 I was assessed a maintenance fee despite having more than $500 in my account. Sent a secure message and they said it's 1,000 in direct deposit or 10 debit charges each month to avoid the fee which is $10 instead of $9.

  • early this year I set up a savings and a checking account and was able to credit card fund 1000 to each. curious has anybody ever try money market or CDs to see if they are credit card fundable? ty

  • For an additional $50 from the Columbia’s refer a friend program that’s stackable. Email me directly for my referral code.

  • It is still there, "If you have ever received a new account opening bonus of any type in connection with opening a checking or savings account, you are not eligible for either of the cash bonuses even if you open a new Checking Account. You are permitted to receive only one of each of these new account bonuses irrespective of the number or type of checking accounts you open."

  • For an additional $50 from the Columbia's refer a friend program that's stackable. Email me directly for my referral code.

  • I've done some bonuses for myself and P2 over the years, couple notes:

    -CC funding was always is good, I was able to do $2k as of last fall. If you apply for checking and savings accounts separately, you can do $2k for each. Chase cards(including Ink) code as purchase.
    -I churned P2 after 2 years not expecting to get bonus since lifetime language is in their terms, I had only opened for CC funding($4k total), but they paid out.
    -Closing accounts here is a bit of pain. If you need to talk to them, you have to call a local branch, online support and central phone support is useless. One local branch refused to close P2's account with a $0 balance unless they came in person, I hung up and immediately called next closest branch and they were happy to do it, but it did involve emailing a branch manager.

  • Applied from NY

    and it said we are reviewing your application and someone will contact me in 72 hours.

    • I was approved in March and it took a phone call after waiting about 5 days. I’d call once you pass 72 hours of waiting.

      • @guest_1863780

        did end up getting a e-mail that had many options (could not open acct, could not verify identity, etc..)

        but the option that was checked for me was - We are unable to open your account online. Please visit your local branch to open an account.

        Still debating if i want to risk driving 40 mins each way and paying a return $15 toll just for them to deny me in person due to Chex or a bad manager or something.

  • The company I work for is 1/2 mile away from NJ. I wonder how strict they are with the NJ requirement. They're advertising to me on Facebook.

    • I’m in NJ and they were strict when I went in branch about my Chex Report. I had to call the manager a few days later to be told that I could open an account with them. I don’t think it is worth it to go into branch because you will probably have to make a couple of phone calls to get the account opened as a best case scenario.

  • FINALLY Bonus Posted - follow up to my other comments below.

    3/23 - Opened Forward checking account
    3/28 - Met $1000 ACH requirement and finished 10 debits requirement

    6/14 - Direct Deposit Bonus $300 and Debit Card Bonus $100

    Almost took 90 full days @guest_1853577 @guest_1855324 @guest_1844393

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