Laurel Road Checking Account Bonus
The Laurel Road checking account bonus is back and is a favorite of my buddy Dave. That is because it offers a pretty great bonus in year one, but it also offers you bonus money for-ev-er (in my best Smalls voice) essentially. It can be a set it and forget money maker long term if you want it to. I will say the bonus set up is quite a bit different than other checking account bonuses, but it can offer you more value because of that. There is also a $200 high yield savings account bonus available via referral too. Let's dive into these two bank bonus offers
Update 5/25/24: A new savings account is available as well. I have added the details, and a referral link below. (HT DoC)
RELATED: Why Every Miles & Points Earn Should Consider The Discover Checking Account
Laurel Road Checking Account Bonus Offer Details
Here are the details of the Laurel Road checking account bonus:
- Earn a $300 bonus when you make qualifying ACH direct deposits totaling $2,500 or more within 60 days of opening your new Laurel Road Loyalty Checking account.
- You must open a Laurel Road Loyalty Checking account by 07/31/2024 at 11:59 p.m. (ET)
- Earn up to $20 cash reward for every month you make qualifying ACH direct deposits during the first 12 months
- Plus, continue to earn $10 for every month after that – for as long as your account is open – when you make a qualifying ACH direct deposit
- 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.
- Plus, continue to earn $10 for every month after that – for as long as your account is open – when you make a qualifying ACH direct deposit
- OFFER LINK
Details On What Qualifies As A Direct Deposit
Here are some terms for the direct deposit for the Laurel Road checking account bonus (which they changed a bit in on 4/1/24 (HT DoC)
Qualifying Direct Deposit:
- A direct deposit from an employer payroll, payroll provider service, or benefits payer (such as Social Security or Military Pay),or pension, and must be clearly identifiable to Laurel Road as such.
Non-Qualifying Deposits:
- Person to Person payments such as but not limited to (Zelle, PayPal, Cash App, or Venmo). Mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions.
Here is a data base of some things that may work outside of the normal work payroll.
Laurel Road $200 Savings Account Bonus
A few days after I covered the Laurel Road checking account bonus a new offer came out for their high yield savings account. This offer appears to only be available via personal referral, of which we have Sarah's to share with you if you're interested.
Offer Details
You can earn up to $200 when you open a new savings account and deposit at least $1 within 20 days of opening the account. The terms say that this offer is available until January 10, 2025. The bonus you receive will depend on your balance at 90 days after account opening:
- Deposit total between $5,000–$14,999.99 and get a $50 bonus
- Deposit total between $15,000–$29,999.99 and get a $100 bonus
- Deposit total more than $30,000+ and get a $200 bonus
- Sarah's Referral
That means you don't really need to deposit the bulk of the money until a few days before day 90. I would probably shoot for like day 80 just to be safe on transfer times in case you went that route. The account currently has a 5.15% APR so you may want to move it in right away. This offer is only available via personal referral.
Laurel Road Bank Bonuses: ToP Thoughts
The Laurel Road checking requires a few more hoops to get the full amount, but it can be rewarding for life if you keep it going. You could always have your direct deposit sent here, and then push it somewhere else once it settles, to earn $120 every year. That would be on ToP of the initial $540 you earn in year one. This offer will be too much effort for some, and an easy lifelong win for others. How you see it will depend on your own personal situation, and how easy the direct deposit requirement is for you.
The Laurel Road savings offer on the other end is as easy as it gets. That is if you have some money to put in the account at least. The fact that you don't need to lock up the bulk of the money for the entire 90 days is pretty crazy though and makes it a lot more interesting for some. If you are interested, you can use Sarah's referral.
Let us know if you plan on signing up for this one over in the ToP Facebook Group.
HT DDG
