Exchange Bank Review: $100 Checking Bonus

Available for current residents of California, Exchange Bank is now offering a way for you to pocket $100 in bonus incentive when you open a new checking account with a minimum opening deposit of $100 or more before September 15, 2016. Within 60 days of account opening, you must have a direct deposit of $250 or more made to this account and make 10 or more POS debit card transactions from this account. Keep in mind that there’s a variety of checking account from Exchange Bank with features such as free Debit Mastercard, EB Online banking and Billpay, Mobile Banking with Mobile Deposit services and so much more!

Exchange Bank Checking Account Summary:

• Apply Now
  
• Account Type: Go Green! Checking, Choice Checking, Essential Checking, Signature Checking
• Maximum Bonus: $100 Cash
• Availability: CA
• Expiration Date: 09/15/2016
• Soft/Hard Pull: Unknown
• Credit Card Funding: None.
• Direct Deposit Requirement: DD is required, $250+
• Additional Requirements: Minimum opening deposit of $100
• Monthly Fee:
  • Signature: $20, waived with:
    • An average daily balance of $5,000 or more or
    • An average daily balance in combined checking, linked personal deposits (excludes IRAs) of $10,000 or more or
    • Average daily balance in combined checking, linked personal deposits and outstanding loan balances of $20,000
      or more is maintained
  • Choice: $10, waived with:
    • An average daily balance of $1,000 or more in your checking or
    • An average daily balance of $5,000 or more in combined checking and linked personal deposit account(s) or
    • Monthly direct deposit(s) of $750 or more made to your account
  • GO Green!: $6, waived with:
    • Monthly direct deposit(s) of $250 or more and
    • Make 10 or more POS (point of sale) debit card purchases
  • Essential: $5, waived with:
    • An average daily balance of $750 or more is maintained or
    • Direct Deposit(s) totaling $400 or more per monthly statement cycle or
    • Funds in the account are being administered for a special needs adult
• Early Termination Fee: None

Exchange Bank Checking Bonus Requirements:

1. Apply in-branch at Exchange Bank
2. Choose a Checking Account
3. Accomplish the minimum initial deposit of $100
4. Set up direct deposit of at least $250 a month within 60 days
5. Make 10 qualified debit purchases within 60 days
6. Once all requirements have been accomplished, you’ll receive the bonus incentive

Exchange Bank Account Features:

• Debit MasterCard
• EB On-line Banking and Bill Pay
• Mobile Banking and Mobile Deposit Service

Conclusion:

Be sure to check out Exchange Bank for a $100 checking bonus when you apply for a new checking account with them. There’s a minimum initial deposit of $100. Be sure to complete all the requirements necessary within 60 days of account opening to claim your reward. I recommend opening a MyCash Checking because there’s no monthly fees or minimum balance requirements attached.

Keep in mind that there is no early termination fee but it’s recommended that you keep your account open and in good standing until you receive the incentive. The bonus will be credited to qualifying new checking accounts no later than 11/30/2016. Bonuses are considered interest and will be reported on IRS Form 1099-INT. If you’re not currently interested, then I recommend you check out our complete list of Bank Promotions for all your banking necessities!