PeoplesBank
PeoplesBank Free Checking $350 Bonus
PeoplesBank pays $350 when you open a Free Checking account with code Fall26 by October 26, 2026 and receive $1,500 or more in direct deposits within 60 days. $10 to open, no monthly fee. Western Massachusetts and Connecticut counties only.
- Bonus amount
- $350
- Expires
- Oct 26, 2026
- Time to complete
- ~60 days
- Bonus deposited in
- ~120 days
- Difficulty
- Easy
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Requirements
Last verified: Oct 8, 2026
Open Free Checking with code Fall26
Open a new Free Checking account online or in a banking center between September 14 and October 26, 2026, using promo code Fall26. $10 minimum opening deposit.
$1,500 in direct deposits within 60 days
Receive at least $1,500 in electronic direct deposits from a third party (salary, pension, government benefits or other recurring ACH credits) within 60 days of opening. Transfers from another PeoplesBank account and cash, check or mobile deposits do not qualify.
PeoplesBank pays the $350 into your account within 60 calendar days after the 60-day qualification period ends.
Account Details
- Free Checking has no monthly fee and no minimum balance.
Eligibility
Not eligible if you have or have had a PeoplesBank consumer checking account within the past 12 months.
- Available to consumers in Hampden, Hampshire and Franklin counties in Massachusetts and the former Hartford, Tolland, Litchfield and Middlesex counties in Connecticut. One promotional credit per taxpayer ID. Bank associates are excluded.
Tips & Gotchas
- →Enter promo code Fall26 when you open the account, or mention it in the banking center.
- →Only third-party electronic deposits count toward the $1,500. Mobile check deposits and transfers from another PeoplesBank account do not.
- →You must open by October 26, 2026. The offer is limited to Hampden, Hampshire and Franklin counties in Massachusetts and the former Hartford, Tolland, Litchfield and Middlesex counties in Connecticut.
- →You cannot have had a PeoplesBank consumer checking account in the past 12 months.
Can You Earn This Bonus Again?
Fine Print
Free Checking account must be opened online or in a banking center between Sept 14, 2026 and Oct 26, 2026 with a minimum opening deposit of $10. Enter promotional code Fall26 at account opening and have at least $1,500 in direct deposits within sixty (60) days of account opening. Qualifying direct deposits are electronic deposits from a third party. The $350 bonus is deposited within sixty (60) calendar days after the qualification period ends. New PeoplesBank Free Checking customers only; no consumer checking account within the past 12 months. Limit one promotional credit per primary taxpayer identification number. Bonus may be reported as taxable income. Offer subject to change without notice.
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. Once you earn $10 or more from a single bank in a calendar year, the bank sends a 1099-INT and you report it as ordinary income on your tax return.
Also see: this month's best bank bonuses and community DD data points.
We may earn a commission if you open an account through the link above. This doesn't affect our recommendations. See how we make money