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 3.50% APY. 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
  3. How does this offer compare?

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

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$1003.50% APY
$25,000 – $49,999.99$1503.50% APY
$50,000 – $99,999.99$2003.50% APY
$100,000 or more$2503.50% 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.

This offer is available nationwide.

👉 Learn more about this offer

(Offer expires 5/26/2023)

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.

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Citi Checking with Enhanced Direct Deposit is the hottest offer right now – get a up to $2,500 bonus when you open an account and have two (2) Enhanced Direct Deposits directly into your new checking account within 90 calendar days from account opening. Your total combined Enhanced Direct Deposits must equal $1,500 or more.

Zelle and Venmo transfers count as direct deposits! It does not have to be a “traditional” direct deposit – readers have been making two transfers and then getting the bonus in a few days.

👉 Click here to learn more

BMO Relationship Checking – $400

BMO Bank is offering a $400 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

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH124 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

👉 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 account within 90 days of account opening. 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

HSBC Premier Checking – up to $4,000

HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

👉 Click here to learn more

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CIBC Bank USA is the US-based bank out of Chicago and a subsidiary of a Canadian financial institution. They offer a nice bonus on an online savings account that does not require a direct deposit.

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 Personal Capital, 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.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

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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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