Valley Bank is not exactly a household name but despite a relatively small footprint, they are available nationwide.
I first learned about them because of their Valleydirect high yield savings account, which boasts a competitive interest rate of 4.75% APY.
Valley Bank and their online banking division, Valleydirect, have promotion offers that may be of interest to you too.
If you’ve been considering an account with them and want to see if they’ll give you an incentive to join, you’re in the right place.
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Valley Bank has a $400 reward if you open a Valley All Access Checking+ account and then receive two or more qualifying direct deposits with a cumulative total of $7,500+ within the first 90 days of opening your account. That’s a cumulative total, so $7,500 spread out across 90 days, not $7,500 each.
Once you meet the requirements and the 90 day period has expired, you will get the $400 reward within 30 days.
There is a $100 minimum to open but there is no monthly maintenance charge for the first 12 months. After that, there is a $15 monthly charge if you do not have a daily balance of at least $99.
👉 Learn more about this promotion
(Offer has no listed expiration date)
ValleyDirect is the online division of Valley Bank, FDIC insured #9396 since 1927. They are headquartered in Passaic, NJ and they have over 230 locations spread out across six states.
Valley Bank is a national bank with all the deposit and loan products you’d expect – though the interest rates are not particular competitive when compared to high yield savings accounts.
Valleydirect, their online bank, is competitive though with an online savings account that offers 4.75% APY and a $1 minimum.
How does this offer compare?
The bonus amount is generous and as long as you have a direct deposit you can move (and time it so you get $7,500 in deposits within the first 90 days), this is a good offer since there is no
U.S. Bank – up to $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
BMO Relationship Checking – $500 Cash
BMO Bank is offering a $500 Cash bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
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About Jim Wang
Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard’s Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.
Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology – Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.
One of his favorite tools (here’s my treasure chest of tools, everything I use) is Empower Personal Dashboard, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want. It’s free.
Opinions expressed here are the author’s alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.
