Deal has expired, view more bank account bonuses by clicking here.
Update 7/20/19: According to reader K.F. the bonus is back, might just be $400 this time.
Update 2/4/19: Deal has been pulled and is no longer being offered.
Update 2/3/19: Seems to be available at all branches, although some branches are offering $400 instead of $500. Also confirmed soft pull. Looks like it’s also possible to open if you live out of state and go in branch.
Offer at a glance
- Maximum bonus amount:Â $500
- Availability:Â Seems to be available at all branches according to the comments
- Direct deposit required:Â Yes, no minimum specified
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems: Yes, not sensitive (one denial with 30 accounts in last 12 months though)
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee: One year, bonus forfeit
- Household limit:Â One
- Expiration date:Â
April 1st, 2019August 30th, 2019
Contents
The Offer
No direct link, offered in branch
- First National Bank of Long Island is offering a bonus of $500 when you:
- Open a new First Class, Regular or Free Checking account
- Sign up and receive a direct deposit ($500 minimum per month for 6 months)
- Make 5 point of sale debit card transactions per month
- Sign up for online banking or a debit card with uChoose Rewards
The Fine Print
- Direct deposit must be a paycheck, pension or government benefit
- New accounts only
- Existing customers with a First National Bank of Long Island account opened prior to 01/07/2019 are not eligible
- One bonus per household
- Bonus will be credit within 30 days from requirements being met
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Free checking account has no monthly fees to worry about
Early Account Termination Fee
Account must be kept open for at least one year
Our Verdict
Seems like a great bonus and worth doing if you live in NY and semi near a branch. Will be interesting to see how strict they are with the direct deposit requirement. I’ve added this to our list of the best bank account bonuses.
Seems like a great bonus if it’s a soft pull to open the account, you should be able to ask in branch before opening. If anybody goes for it then please share your experiences in the comments below.
Big thanks to reader, Gerald who let us know. Learn how to find bonuses and contribute to the site here.
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
Opened: 7/22/19
Bonus: 3/2/19 $400
This was one of the more challenging of the bonuses. I used real DD and small pharmacy purchases to complete the debit card requirements. Happy to be done with this.
Has anyone received this bonus? I called the branch at which i opened my account a few weeks ago and was told bonuses would be deposited this month, but nothing yet for me.
Offer details: imgur.com/a/U97M2e2
Offer has expired.
William Charles
Fees Schedule: imgur.com/a/tnsD14a
FYI note for avoiding fees: There is no monthly fee or minimum balance on the free checking account ….but you are charged 70 cents per debit transaction (and part of this bonus is 5x transactions a month)
To fully avoid fees when doing this bonus, you would need to do the regular checking and maintain a $750 balance
DP: AMZ reloads likely don’t count towards the debit POS purchases. They’re coded as “EFT MCD AMZ” unlike self-checkout transactions, which code as “EFT POS”.
I have the same DP – mine coded as “EFT MCD AMAZON.COM” after opting out of PIN-less debit on amazon.
I went to the branch in Manhattan. This is a very limited offer. You must live in the (NYC) boroughs of Brooklyn, Queens or Manhattan or in Nassau and Suffolk counties on Long Island to open an account. And the offer is for $400.
Opened mine last week. My DMV address is Putnam county, but I work in Nassau. No problem at all opening in Queens.
Did they say when the deal was done? Was considering going in this week.
any luck to open the account in branch without a NY address?
Does anyone know how strict the one per household rule is?
Opened today $400 bonus. When I was there banker received email that promotion went viral cause it was posted on social media. I expect them to pull the offer early again. I missed it last time by 2 days.
Just an FYI, drawing your account down to $0 will close your account. I had that happened and it took 2 phone calls to fix. I also had a bad experience with the rep when I called the general number listed on their website. A call to the local branch was way more helpful.