Florence Bank
Florence Bank Free Checking $400 Bonus
Florence Bank pays $400 when you open a new Free, Cashback or Rewards Checking account with promo code VALLEY and receive $1,500 or more in direct deposits within 90 days. $10 to open. Online applications are limited to set counties in Western Massachusetts, northern Connecticut, southern Vermont and Cheshire County, New Hampshire.
- Bonus amount
- $400
- Expires
- Not listed
- Time to complete
- ~90 days
- Paid after opening
- ~110 days
- Difficulty
- Easy
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Requirements
Last verified: Nov 10, 2026
Open checking with code VALLEY
Open a new Free, Cashback or Rewards Checking account online or at any Florence Bank branch using promo code VALLEY. $10 minimum opening deposit. The online application is limited to residents of set counties in Massachusetts, Connecticut, Vermont and New Hampshire; all branches are in Western Massachusetts.
$1,500 in direct deposits within 90 days
Receive Qualifying Checking Account Direct Deposits totaling $1,500 or more within 90 calendar days of opening. These are regular ACH credits such as payroll, salary, pension or government payments like Social Security. Real-Time Payments (RTP) deposits and PayPal, Zelle, Venmo or other peer-to-peer payments do not count.
Florence Bank posts the $400 within 14 business days after the 90-calendar-day qualifying period ends.
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Account Details
- Free Checking and Cashback Checking have no monthly service charge or minimum balance requirement.
Eligibility
Existing Florence Bank checking customers, anyone with a relationship to another Florence Bank checking account, and anyone who closed a checking account in the last 180 days do not qualify.
- The online application is limited to residents of Hampshire, Franklin, Hampden, Berkshire and Worcester counties in Massachusetts, Hartford, Litchfield, Tolland and Windham counties in Connecticut, Windham and Bennington counties in Vermont, and Cheshire County in New Hampshire. All branches are in Western Massachusetts.
- One bonus per customer. Florence Bank employees are excluded.
Tips & Gotchas
- Enter promo code VALLEY when you open the account, online or in a branch.
- Only regular ACH credits count toward the $1,500: payroll, salary, pension or government payments. RTP, PayPal, Zelle and Venmo do not.
- The online application is limited to Hampshire, Franklin, Hampden, Berkshire and Worcester counties (MA), Hartford, Litchfield, Tolland and Windham counties (CT), Windham and Bennington counties (VT) and Cheshire County (NH).
- You cannot already have a Florence Bank checking account, or have closed one in the last 180 days.
Can You Earn This Bonus Again?
Fine Print
To earn the $400.00 account bonus deposit, open a new personal checking account online or at any branch using Promo Code VALLEY and set up and receive Qualifying Checking Account Direct Deposits totaling $1,500.00 or more within 90 calendar days of account opening. New personal checking customers only, one per customer. Florence Bank employees, existing Florence Bank checking customers (including anyone with a relationship to another Florence Bank checking account) and anyone who closed a checking account within the last 180 calendar days are not eligible. Qualifying Direct Deposits are regular, periodic ACH credits such as payroll, salary, pension or government payments; RTP network deposits and peer-to-peer payments (PayPal, Zelle, Venmo or others) do not qualify. The bonus posts within 14 business days of the end of the 90-calendar-day qualifying period and may be reported on IRS form 1099-INT. Available as of May 1, 2026. This offer may be withdrawn at any time.
Taxable income · Reported on 1099-INT
Related Articles
What is a direct deposit?
An electronic payment sent directly into your bank account, usually from an employer or government.
Does Zelle Count as Direct Deposit for Bank Bonuses?
Usually no. At most banks a Zelle payment arrives coded as peer-to-peer and will not trigger the bonus. Citi is the clear exception. Its Enhanced Direct Deposit terms name Zelle as a qualifying deposit, and every Zelle report we have from Citi got paid.
Do Bank Bonuses Show Up on a 1099-INT?
Yes. Bank bonuses are taxable income. Most banks report them on a 1099-INT once you earn $10 or more from that bank in a calendar year. Some report them on a 1099-MISC instead. Either way, you report the bonus as ordinary income on your tax return.
Also see: this month's best bank bonuses and community DD data points.
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