Laurel Road Bonus Updates
Update on January 13, 2023 – Laurel Road has now reduced the checking bonus to $440 ($200+240) and extended till June 30, 2023.
Update on January 1, 2023 – Laurel Road has extended the checking bonus till January 12, 2023.
Laurel Road Bank
Laurel Road is offering a $300 bonus for opening their Laurel Road Loyalty Checking Account. To be eligible, you need to open the checking account by12/31/2022 and setup a direct deposit totaling at least $2,500 within the first 60 days of account opening. Besides, Laurel Road is offering $20 bonus per month from the second till thirteenth month of account opening and $10 bonus afterwards, for each month as long as the account receives a qualifying direct deposit of $2,500 per month.
Laurel Road has no account fees, no hidden fees and no minimum balance for the account. It also has no foreign transaction fees on its debit card.
Laurel Road Checking Bonus Summary
Bonus – $300
Account – Loyalty Checking
Direct Deposit – Yes, at least $ 2,500 within 60 days
Availability – Nationwide
Offer Expiry – December 31, 2022
Account Fees – None
Link for the Offer
Checking Bonus Requirements
- Open a new Checking account online using the link
- Get qualifying direct deposit of $2,500 within 60 days of account opening to receive $300 bonus.
- Get qualifying direct deposit of $2,500 each month to get $20 bonus for the first 12 months and $10 bonus, starting your 14th months for as long as your account is open.
Checking Account Fee | How to Avoid It?
- There is no account fees.
BonusCoach’s List of Best Bank Account Bonus
Early Account Termination Fees
There is an early termination fees of $25 if the account is closed within 180 days.
The Fine Print
- You must open a Laurel Road Loyalty Checking account by 12/31/2022 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements. Click here for current Laurel Road Loyalty Checking Rates.
- Primary account holder is eligible to earn monthly rewards of $20/month from the second through thirteenth statement periods, which is considered your “first year.” From the fourteenth statement period onward, the eligible reward will be $10/month for as long as the Laurel Road Loyalty Checking account (“Account”) is open. To earn monthly rewards, you must make qualifying Automated Clearing House (ACH) direct deposits into the Account totaling at least $2,500 during the statement period.
- Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying account and per individual.
- If you were the primary owner on any Laurel Road checking account within the prior 24 months before opening the new checking account, you are not eligible for the bonus offer.
- The value of the bonus will be reported to the IRS on Form 1099-INT.
- If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee.
This is an excellent offer – not only do you get $300 for having a direct deposit of $2,500 within the first 60 days, you will get $20 for the 12 months and $10 afterwards as long as you make a qualifying deposit of $2,500 each statement cycle. Also, the account has no minimum balance requirement and no maintenance fees. We recommend this account.