Amalgamated Bank Bonus – up to $250

Amalgamated Bank has a generous money market bank bonus that not only pays you an incentive bonus based on the amount you deposit but it also pays interest, currently 5.25% APY for the first six months.

It’s a one-two punch in a money market account that makes it a really appealing offer.

But who is Amalgamated Bank and are they someone you should consider banking with? We dive in and share the details of this offer.

Table of Contents
  1. Who is Amalgamated Bank?
  2. How to get up to $250 from Amalgamated Bank [EXPIRED]
  3. How does this offer compare?

🔃Updated May 2024: Updated this to indicate the bonus has expired.

Who is Amalgamated Bank?

Amalgamated Bank is most than your typical commercial bank, they are a certified B Corporation with a focus on sustainability, progressive causes, and social justice. This also includes environmental and social responsibility. They are net-zero and powered 100% by renewable energy.

They’ve been FDIC insured since 1923 under FDIC Cert# 622. They have just 6 domestic locations in three states but they’re nationwide – anyone can open an account with them.

How to get up to $250 from Amalgamated Bank [EXPIRED]

The bonus from Amalgamated Bank is easy to get – simply open a new money market account and fund that account with new money. The amount of the bonus is based on how much you fund the account with.

Then, maintain the opening deposit requirement for 90 consecutive calendar days and you will receive the bonus. The amount you earn is based on this table:

Deposit AmountCash BonusAPY
$10,000 – $24,999.99$1005.25% APY
$25,000 – $49,999.99$1505.25% APY
$50,000 – $99,999.99$2005.25% APY
$100,000 or more$2505.25% APY

This is only worth doing if you can deposit at least $10,000 to get the bonus.

If you don’t, then you won’t get a bonus and you won’t earn the higher interest rate for six months.

This offer is available nationwide.

👉 Learn more about this offer

(Offer expires 4/30/2024)

How does this offer compare?

It’s a decent offer especially since you don’t have to change your direct deposit. The 90 days is about standard and then the higher interest rate is a nice little bonus. While the rate isn’t one of the highest we’ve seen (our list of high yield savings accounts is much better), it’s competitive such that you aren’t losing much keeping your money there.

U.S. Bank – up to $700

Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.

Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

👉 Click here to learn more

BMO Relationship Checking – $500 Cash

BMO Bank is offering a $500 Cash bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.

*Conditions apply

👉 Click here to learn more

Bank of America – $200 Bonus Offer

Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. It has a monthly fee that is easy to have waived.

👉 Click here to learn more

Chase Total Checking® – $300

Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

👉 Click here to learn more

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools, everything I use) is Empower Personal Dashboard, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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