Offer at a glance
Maximum bonus amount: $250
Availability: Nationwide
Deposit required: $10,000+
APY: 3.5% APY
Hard/soft pull: Soft
ChexSystems: Unknown
Credit card funding: $500, Visa or Mastercard only (you can also fund a savings account with another $500, but cannot be opened at the same time as checking otherwise limited to $500 across both accounts)
Monthly fees: None
Early account termination fee: EATF
Household limit: None listed
Expiration date: May 26, 2023
The Offer
Amalgamated Bank is offering a $250 money market bonus. The bonus you receive depends on the amount of funds you deposit and maintain for 90 days.
Deposit $10,000 – $24,999.99 and earn a $100 bonus
Deposit $25,000 – $49,999.99 and earn a $150 bonus
Deposit $50,000 – $99,999.99 and earn a $200 bonus
Deposit $100,000+ and earn a $250 bonus
The Fine Print
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
Unsure if there is any EATF or not.
Our Verdict
Bonus gets worse as it increases unfortunately. If you put the $10,000 required for the $100 bonus into an account earning 5% APY for 90 days you’d earn $123. With this account you get the $100 bonus and then another $86 from the interest. Not really worth doing for an extra $50 and even worse as the bonus increases. Because of that we won’t be adding this to our best bank bonuses.
Useful posts regarding bank bonuses:
A Beginners Guide To Bank Account Bonuses
Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
PSA: Don’t Call The Bank
Introduction To ChexSystems
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull ChexSystems?
How To Use Our Direct Deposit Page For Bank Bonuses Page
Common Bank Bonus Misconceptions + Why You Should Give Them A Go
How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Complete List Of Ways To Close Bank Accounts At Each Bank
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