Offer at a glance
- Maximum bonus amount: $150
- Availability: Must open in branch, all branches are lcoated in CT [Branch locator]
- Direct deposit required: Yes, no minimum specified
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: Unknown
- Early account termination fee: None
- Expiration date: None listed
The Offer
- Open a new checking account at a Simsbury Bank branch and receive a $150 sign up bonus, broken down as follows:
- $100 for using direct deposit
- $50 when you give them your old bank details and checks
The Fine Print
- Deposit valid from payroll, social security or monthly retirement account distribution.
- Bonus will be credit to your account within 30 days
- Promotion only available to non-Simsbury Bank customers or those who have not banked with Simsbury Bank in the last 6 months
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Their eAdvantage checking account does not have any monthly fees to worry about. I wasn’t able to find a fee schedule so I’m unsure if any early account termination fee is charged or not.
Our Verdict
Hard to know if it’s a good deal without knowing if it’s a hard or soft pull. Having to go in branch and complete a direct deposit (and give them your old bank details) for the full bonus is kind of a hassle for $150 (minus any taxes though). There are definitely better checking promotions out there. If you have any experiences with this bank, please share them in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
I called the branch, This promotion ended in August.