Valley Bank is not exactly a household name but despite a relatively small footprint, they are available nationwide.

I first learned about them because of their Valleydirect high yield savings account, which boasts a competitive interest rate of 4.75% APY.

Valley Bank and their online banking division, Valleydirect, have promotion offers that may be of interest to you too.

If you’ve been considering an account with them and want to see if they’ll give you an incentive to join, you’re in the right place.

Valley Bank has a $400 reward if you open a Valley All Access Checking+ account and then receive two or more qualifying direct deposits with a cumulative total of $7,500+ within the first 90 days of opening your account. That’s a cumulative total, so $7,500 spread out across 90 days, not $7,500 each.

Once you meet the requirements and the 90 day period has expired, you will get the $400 reward within 30 days.

There is a $100 minimum to open but there is no monthly maintenance charge for the first 12 months. After that, there is a $15 monthly charge if you do not have a daily balance of at least $99.

Learn more about this promotion

(Offer has no listed expiration date)

Who is Valley Bank & Valleydirect?

ValleyDirect is the online division of Valley Bank, FDIC insured #9396 since 1927. They are headquartered in Passaic, NJ and they have over 230 locations spread out across six states.

Valley Bank is a national bank with all the deposit and loan products you’d expect – though the interest rates are not particular competitive when compared to high yield savings accounts.

Valleydirect, their online bank, is competitive though with an online savings account that offers 4.75% APY and a $1 minimum.

How does this offer compare?

The bonus amount is generous and as long as you have a direct deposit you can move (and time it so you get $7,500 in deposits within the first 90 days), this is a good offer since there is no