[Expired] [D.C., MD, NC, PA, SC, WV & VA only] MVB Bank $200 Checking Bonus

This bonus has now expired, click here for the best current checking bonuses.

Reposting again as it’s available in a lot more states than first thought. Thanks to reader MarcoPolo.

Bonus is back and has been increased from $100 to $200. Thanks to reader Steve.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: D.C., MD, NC, PA, SC WV & VA only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: 10 debit card transactions
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $5, avoidable
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Open a new MVB smart checking account online and earn a bonus of $200 when you complete the following requirements:
    • Setting up a qualifying direct deposit of at least $500 that posts and settles within 60 days of account opening
    • Make at least 10 qualifying PIN point of sale or signature based purchases using your MVB Visa debit card within the first monthly statement cycle (must post and settlement)

 

 

The Fine Print

  • Earn $100.00 when opening a new MVB Smart Checking account in branch or earn $200 when opening a new MVB Smart Checking account online by 1) signing up for online banking at mvbbanking.com 2) setting up a qualifying $500 Direct Deposit within 60 days of opening your new Smart Checking account.
  • The direct deposit can be one or multiple direct deposits and must post and settle to the account in the first 60 days of account opening. 3) making at least ten (10) qualifying PIN Point of Sale or signature-based purchases using your new MVB Visa Debit Card within the first full Monthly Statement Cycle. Debit card transaction must post and settle to the account during the statement cycle to count.
  • After you have completed all of the above requirements, we’ll deposit the incentive into your new account within 30 business days.
  • Incentive is considered interest and will be reported on IRS Form 1099-INT.
  • A qualifying direct deposit is an electronic credit of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency.
  • Transfers from one account to another or deposits made at a banking location, ATM or online transactions do not qualify as a Direct Deposit. Promotion only extended to new MVB Smart Checking Account customers.
  • You may only receive one Smart Checking account related incentive per calendar year.
  • The new account must remain open and in good standing with a minimum balance of $0.01 until the reward is processed to receive the reward.
  • Promotion valid beginning 08/09/2018 and is subject to withdrawal at any time.

Avoiding Fees

Smart Checking account has a $7.5 monthly fee, this is waived if you do either of the following:

  • Receive a monthly direct deposit
  • Have a daily balance of $1,000+

I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not. Also keep in mind they charge a $4 fee if you opt to receive paper statements.

Our Verdict

Deal is much better now that the bonus is for $200 instead of only $100. Because of that I will now add it to the list of the best checking accounts. As always please share your experiences with this bank/bonus in the comments below.

Useful posts regarding bank bonuses:
    William Charles
  • On September 30, 2018, 19:48

View Comments (68)

  • For others that received this bonus - did you get a 1099-INT from MVB? The terms clearly state the bonus is considered interest and will be reported on a 1099-INT; however, I didn't get anything from them. Also, it doesn't look like you can access it online.

      • I gave them a call - didn't pull up anything under my social. I'm guessing maybe they classified it as misc income <600? Or maybe b/c it involved debit card transactions it was counted as a rebate. At any rate, doesn't sound like they're sending one.

  • MVB sent me a letter saying they extended the time requirement for doing the debit card transactions. Now the transactions just need to be completed within the first two full statement periods.

    I'm in a crunch now, because I had wrote this bonus off due to not receiving my card quick enough. Now I'm in a crunch though to meet the DD requirement. I changed my work DD to meet the requirements, but I'm not sure if our system at work will process the change quick enough.

    Anyone have any successful DPs on ACH pushes triggering the DD requirement?

    • did a Real employer DD and also billpay at FIOS. Bonus posted in no time at all with minimum hassles.

  • WF ACH did not trigger the DD. Attempting others and will report back in case this bonus pops up again.

      • CapOne posted as "Capital One N.A. CCD" and no immediate bonus posting. Per Dan's message below it may still count, but I'm going to try Fidelity/Schwab brokerage pushes to see if that triggers it immediately.

      • Nothing yet. Trying CapOne and will likely cycle Fidelity/Schwab through as well. CapOne posted differently than WF (ACH vs. DDA) so we'll see. Hard to know what works since it is unclear as to how long it takes to post as well.

  • I received the bonus on 11/2. I had a $500 payroll direct deposit post on 11/2.

    I received my debit card on 10/26. I immediately did 10 Amazon gift balance reloads each were $0.50.

    I applied for my account on 9/30. It took about three weeks for the account to open and become active.

    I would recommend this bonus if it becomes active again. It just takes a lot of patience in the beginning!

    • I had a banker on the phone literally tell me that my Amazon reloads did not qualify and that I needed to physically go into a store and make purchase. Yeah, OK. Employer DD posted today so I should know soon if I got the bonus.

    • Thanks for posting! How ddi your DD post? Was it something like: Memo Credit / [Bank Name] IFI DDA TO DDA ACH?

  • got a letter saying they want a notarized signature or they will close my account. too much hassle to deal with.

    • is a notarized piece of paper and 20 minutes of your time not worth and easy $200? they paid out my bonus the same day i did my amazon reloads.

  • I applied for an account on 9/30 while the bonus offer was still active. I called on 10/01 to check status of my application. The customer service rep said that they had received a ton of applications over the weekend and the processing department was overwhelmed.

    On 10/03 I receiveced a call from MVB to verify my employment. On 10/05 I noticed that my funding had been withdrawn from my bank.

    I have set up my MVB online banking. My only issue is they have not given me my bank account #. I cant find it anywhere on the online banking. I called and the customer rep was not able to give it over the phone. He said I could go to branch to get it. I am hoping that can be avoided.

    • I have followed a similar timeline to Drew. I spoke with a customer service representative on the phone on 10/5 and was told that online account access was being put on hold due to the high volume of applicants they received when the promotion was live. She said I was being mailed a physical signature card and I would have to complete this and send it back. She gave me the fax number to my nearest branch.

      I also asked her to confirm that the bonus was on my account and she said yes. I asked for the routing number and my account number so I could go ahead and get my DD set up. She gave this to me over the phone without any hesitation.

      I will update with any additional information.

      • The same thing happened to me. When trying to log in, I would get the "on hold" message. As of yesterday, I get a different error saying the username/password does not match their records.

        I returned their signature card a week ago. Seems like they are delaying and trying to create reasons close accounts, but who knows.

        • I was finally able to gain access to my online account. My DD posted last Friday. The last time I called in about the "on hold" message, I asked about my debit card and they said it hadn't been ordered yet. She put in an order and said I would have it in about a week. I am hoping it comes in this week so I can get in my 10 transactions. If not, I may call in and try to get the debit card number over the phone. I'm not sure if they will do that or not.

          • Thanks. Called again and they had to delete my login and asked me to reregister. Now to wait for that registration to be approved...

            No sign of the debit card though. Said they would contact one of the branches.

            Wonder if there is any recourse if the debit card does not arrive in time. Crazy that it has been 26 days.

          • My debit card was in my mail box yesterday when I got home. From my experience, it looks like they don't automatically order one. Customer service has been very helpful every time I had to talk to them, but it seems like they are either overwhelmed by the number of applications during the promotion or they are trying to make it as difficult as possible for us to meet the terms of the promotion, or maybe both.

            I had to specifically ask about the debit card and ask them to order it last week. I mentioned the promotion and needing to get my 10 transactions in. I am doing Amazon reloads and will mix some small convenience store transactions in with it. I will continue to post updates when my bonus posts.

          • My $200 bonus posted on 11/2. Drew and I had a very similar experience from the beginning and our bonuses posted on the same day.

            I would also recommend this bonus if it comes back around. Just make sure you stay on top of it.

  • opened account on oct 1st following this link. got a call yesterday about verification. account still not open today, but i am supposed to receive a followup. when i asked about the bonus offer yesterday the rep said she wasn't sure if they still had it, i already knew that but i had applied while there still was a bonus. hopefully i'll report back later that i did have the bonus attached.

  • Applied on the 30th. Just got a call from a banker, asked a few questions (DOB, mother's maiden name) and how I found out about MVB. I made up some BS. She proceeded to open the account.

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