[NJ] Blue Foundry Bank $1,000 Business Checking Bonus
Offer at a glance
- Maximum bonus amount: $1,000
- Availability: NJ
- Direct deposit required: None
- Additional requirements: Deposit $35,000 and maintain for 7 months
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: None listed
The Offer
- Blue Foundry Bank is offering a $1,000 bonus when you open a Blue Carbon Business Solutions Checking and maintain a balance of at least $35,000 at all times during a 7-month qualification period
The Fine Print
- Cash bonus is not available to existing Blue Foundry Bank Business Checking customers or businesses that have closed their checking account within the last 12 months.
- Only one Cash Bonus available per tax id. Bonus will be earned when account maintains a balance of at least $35,000 at all times during a 7-month (213 day) qualification period.
- Qualification period begins when account balance is $35,000, which must be within the first 30 days of account opening.
- Once the qualification period has concluded, your account will be credited the $1,000 cash bonus within 60 days.
- For tax purposes, bonus will be reported on form 1099.
- Blue Foundry Bank reserves the right to modify or discontinue the cash bonus at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Avoid a $5 monthly statement fee by enrolling in eBanking and selecting eStatements
Early Account Termination Fee
I wasn’t able to find any EATF in the fee schedule.
Our Verdict
This account earns 0% APY, bonus works out to be 4.95% so not really worth doing as that’s in line with basic rates currently. There is also a personal bonus.
Hat tip to Tikky
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