Find the latest Amalgamated Bank Promotions, Bonuses, and Offers here.
Available nationwide, Amalgamated Bank is offering a $250 bonus when you open a new online checking account and some requirements.
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About Amalgamated Bank Promotions
Established in 1923 in New York, Amalgamated Bank has a small footprint with just a little over 10 physical branches but they do offer nationwide availability with their online Checking and Savings accounts. Rates can often be much better than other traditional banks.
Some of the benefits you’ll enjoy while banking with Amalgamated Bank include 24/7 online and mobile banking, access to over 40,000 ATMs nationwide, and much more!
I’ll review the offers below.
Amalgamated Bank $250 Checking Bonus
- What you’ll get: $250 bonus
- Account Type: Online Checking
- Availability: Nationwide (Bank Locator)
- Direct Deposit Requirement: Yes, $500+ for 2 consecutive months
- Credit Inquiry: Soft Pull
- ChexSystems: Unknown
- Credit Card Funding: $500 Visa or Mastercard only. Open Savings account later for additional $500 credit card funding.
- Monthly Fees: None
- Early Account Termination Fee: None
- Household Limit: None
(Expires 01/31/2023)
| You can compare this to several great entry level Checking accounts with bonus offers include the BMO Harris Smart Money™ Account ($200 bonus), U.S. Bank SmartlyTM Checking ($400 bonus), Chase Total Checking® ($200 bonus), SoFi Checking and Savings ($275 bonus), and Citi Priority Account (Up to $2000 Cash Bonus). |
How To Earn Bonus
- Open a new Online Checking account between December 6, 2022 and January 31, 2023
- Fund your new Online Checking account with external funds
- Enroll in Amalgamated Online Banking
- Make direct deposits of at least $500 for two consecutive months by April 30, 2023
- Cash incentives will be paid on or before June 30, 2023, once all account requirements have been met
- This account can only be opened online. It cannot be opened at an Amalgamated Bank branch.
- The value of the bonus may have to be reported to the IRS. Consult with your tax advisor for tax advice.
- Online checking account is considered open and eligible for promotion upon bank approval and receipt of account funding by February 15, 2023.
- Direct deposit include ACH credits of payroll, pensions or government payments payable to you. Note: that a direct deposit of less than $500 will not qualify you for the $250 bonus. All three requirements must be met by 03/31/2023. Offer is limited to one per customer and is only valid for accounts in good standing.
How To Waive Monthly Fees
- Online Checking: None
Bottom Line
Amalgamated Bank offers great promotions for you to earn money over time. This is a nice bonus and should be very popular. There hasn’t been a bonus offer from Amalgamated since 2016.
While they have a generous $250 bonus, Amalgamated Bank doesn’t have great rates for CDs and Savings. You may want to check out our full list of Bank Rates and CD Rates.
Compare Amalgamated Bank with other bank bonuses from banks like Citi, Huntington, HSBC, Chase, TD, Discover Bank, Axos Bank, BMO Harris, SoFi, US Bank, and more!
*Check back at this page for updated Amalgamated Bank promotions, bonuses and offers.
I was denied.
Can someone confirm if that’s $500 a month or $500 a paycheck? I need to know because I make $300 a week and only get paid weekly.
$500 per month.
The $500 DD requirement is only to receive the bonus. A monthly DD of any amount will waive the monthly fee according to the article. As far as I know nobody knows what actually counts as a DD right now.
EDIT: Ok, so the terms are confusing. First it says you need to have a $500 deposit within 60 days to receive the bonus, but it also says you need a recurring $500 DD, though a DD of any amount will waive the monthly fee. So I don’t know which is actually true.
In most cases, DD is ACH from your pay check. And I believe you have to maintain the recurring monthly $500 DD to avoid ATM charges, but sometimes you can avoid the fees with a minimum balance like $1000. Anyway, I talked them and they are really nice and helpful, in case you want some answers.
The $500 “recurring direct deposit” is required to get the $500 bonus, whereas any DD amount will waive the monthly fee.
I had planned to DD $500 each month until I got the bonus and then change my deposit to a lower amount (I figured that once I got the bonus, I no longer needed to keep the monthly deposit at $500). I ended up getting the bonus promptly: about a month after my first direct deposit.
Serve worked for me for meeting the $500 direct deposit requirement for the bonus. After that, I have avoided monthly fees by transferring a smaller amount each month from Santander (and not continuing transfers from Serve).
With other banks, I have heard of people successfully using one DD method to waive the monthly fees that didn’t necessarily work for meeting the bonus requirement. That’s why I mention my two different approaches separately.
I live in nj and was able to apply for the bonus. bank called to confirm that I will get the bonus if I meet the bonus requirements
I believe they do soft pull.
According to item #3 on the first page of the application process, you can provide initial funding via a credit card:
What you will need
Applying is fast and easy. Here’s what you’ll need to have handy:
1. Your Social Security number or Individual Tax Identification Number (ITIN)
2. A federal or state US government-issued photo ID (driver’s license, passport, state or military ID)
3. A credit/debit card or US checking or savings account to fund your new account if you choose to fund your account at account opening