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
🔃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 Amount | Cash Bonus | APY |
|---|---|---|
| $10,000 – $24,999.99 | $100 | 5.25% APY |
| $25,000 – $49,999.99 | $150 | 5.25% APY |
| $50,000 – $99,999.99 | $200 | 5.25% APY |
| $100,000 or more | $250 | 5.25% 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.
(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 $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 31, 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.
BMO Checking – $300
BMO is offering a $300 bonus* when you open a BMO Checking account and have $4,000 in direct deposits within 90 days of opening. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $300 Bonus Offer
Bank of America offers a $300 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.
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!
