Published on August 27th, 2017 | by William Charles4
[WV & VA only] MVB Bank $100 Checking Bonus
Offer at a glance
- Maximum bonus amount: $100
- Availability: WV & VA only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: 10 debit card transactions
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $5, avoidable
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
- Open a new MVB smart checking account and earn a bonus of $100 when you complete the following requirements:
- Setting up a qualifying direct deposit that posts and settles within 60 days of account opening
- Make at least 10 qualifying PIN point of sale or signature based purchases using your MVB Visa debit card within the first monthly statement cycle (must post and settlement)
The Fine Print
- Earn $100.00 when opening a new MVB Smart Checking account by 1) signing up for online banking at mvbbanking.com 2) setting up a qualifying Direct Deposit within 60 days of opening your new Smart Checking account. The direct deposit must post and settle to the account in the first 60 days of account opening. 3) making at least ten (10) qualifying PIN Point of Sale or signature-based purchases using your new MVB Visa Debit Card within the first Monthly Statement Cycle. Debit card transaction must post and settle to the account during the statement cycle to count.
- After you have completed all of the above requirements, we’ll deposit the incentive into your new account within 30 business days.
- Incentive is considered interest and will be reported on IRS Form 1099-INT.
- A qualifying direct deposit is an electronic credit of your salary, pension, Social Security or other regular monthly income deposited to your account by your employer or an outside agency. Transfers from one account to another or deposits made at a banking location, ATM or online do not qualify as a Direct Deposit. Promotion only extended to new MVB Smart Checking Account customers.
- You can only receive one Smart Checking account related incentive per calendar year.
- The new account must remain open and in good standing with a minimum balance of $0.01 until the reward is processed in order to receive the reward.
- Promotion valid beginning 8/9/17 and is subject to withdrawal at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Smart Checking account has a $5 monthly fee, this is waived if you do either of the following:
- Receive a monthly direct deposit
- Have a daily balance of $250+
I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not. Also keep in mind they charge a $4 fee if you opt to receive paper statements.
A few requirements for a $100 bonus but at least it’s a soft pull to open. Probably won’t add this to our best of list due to the bonus requirements and also the requirements to keep the account fee free.
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
- Banks That Allow/Don’t Allow Out Of State Checking Applications