Posted by William Charles on May 18, 2017
Bank Account Bonuses no image

Published on May 18th, 2017 | by William Charles

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[MA only] Webster Bank $350 Business Checking Bonus

Offer at a glance

  • Maximum bonus amount: $350 personal and $350 business
  • Availability: Valid for branches in these places: Cambridge, Boston, Lexington, Newtown, Needham, Burlington, Brookline, Wellesley, Quincy. [Branch Locator Here] You must live within 50 miles of a branch
  • Direct deposit required: Required (for personal bonus)
  • Additional requirements: Yes, see below
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: $11.95, waivable
  • Early account termination fee: $15 if closed within 90 days
  • Expiration date: December 30th, 2016 June 2nd, 2017

The Offer

Direct link to offer

  • Open a new Webster Complete Business Checking or Webster Business Value Checking account at a participating branch and receive a bonus of $350 when you complete the bonus requirements as follows by 8/31/2017:
    • Make cumulative deposits of $5,000 or more
    • Complete a total of 6 deposits

 

The Fine Print

  • Promotion valid for new Webster Complete Business Checking and Webster Business Value Checking accounts opened between 03/27/2017 and 06/02/2017 at Webster Banking Centers located in Boston, Cambridge, Newton, Lexington, Needham, Burlington, Brookline, Wellesley and Quincy, and meeting minimum opening balance requirements.
  • Business customer must qualify for the account and complete either of the following by 08/31/2017: 1) make cumulative deposits of $5,000 or more OR 2) complete a total of 6 deposits.
  • To be eligible, the primary business customer must not have had an open checking account since 09/27/2016 at Webster Bank.
  • Account must be in good standing at the time of payment; an account is considered to be in good standing if it has a positive balance and is not in the process of being closed.
  • All funds will be transferred into the newly established checking account by 09/29/2017.
  • Amounts will be reported to the IRS, and customer is responsible for any applicable taxes.
  • Offer is available to residents of NY, MA, RI and CT only.
  • Please speak to a Webster banker for details.

Avoiding Fees

Note that military and veterans might get a monthly fee waiver. (I can’t tell if all accounts get the waiver or only some.) There is also a $15 early account termination fee if the account is closed within 90 days.

Business Value Checking

This has a monthly fee of $11.95 that is waived if you do either of the following:

  • Have an average monthly balance of $2,500 or more
  • Are the primary owner of a personal premier checking account

Our Verdict

This bonus is back and better than previous offers, because you can open the value business checking account with lower monthly fee requirements. Unlike the same previous offer there is a public link for this one as well.  We will add it to our list of the best business bank bonuses.

Useful posts regarding bank bonuses:



10 Responses to [MA only] Webster Bank $350 Business Checking Bonus

  1. Qiang says:

    Anyone know if Webster bank is sensitive to ChexSystem inquiries?

    • Max says:

      I applied in branch and was approved. I have a large number of Chex inquiries. Approved as a sole proprietorship. My name DBA My name. No biz docs.

      Btw they have small fees for lots of transactions. They claim that the first 300 are free, but that wasn’t the case for me. Took like $2.50 in fees from the $350 lol. But still, do as few transactions as you can.

  2. Qiang says:

    Anyone know if Webster bank allows sole proprietorship or partnership bank accounts? (or you have to be incorporated)

  3. brandon says:

    Is this also valid for the personal account?

  4. Mike says:

    Don’t forgot to stack this for another $75-$250 (in visa gift cards):
    First, sign up using DoC link, then fill out this form:
    https://www.referlive.com/websterbankbiz/newcustform/C4B6587CDFE7/14/0880061QZHHXJEP

    Additional requirements:
    (1) $25 visa card – (10 debit transactions OR 5 bill payments)
    (2) $75 visa card – same as (1), plus average monthly balance of $2,500 during the second full month that the account is open
    (3) $250 visa card – same as (1), plus average monthly balance of $10,000 during the second full month that the account is open

  5. Justin says:

    Can you do this if you currently have a premier checking? Offer says can’t have had a checking acct but unsure if that means any checking or just biz checking

    • Mike says:

      Personal and Business checking tend to be considered different categories. I can’t think of a single back who is looking at them as one product.

  6. Scott says:

    Hey Will and Chuck,

    I visit this blog and Hustermoneyblog often which are both one of my bookmarked favorites. I notice you take their posts and yes I know they do the same so I have no intent of attacking either of y’all. May I ask why you and him do not credit each other like you do other bloggers?

    Keep up the good work both of you guys. Great blogs. You both have created great value for me and I’m sure the rest of the readers you have.

    Cheers! -Scott F.

    • Chuck says:

      I rarely get ideas from him, though it has happened a few times. Many posts you see on his site are on lots of other sites too; we usually credit where we saw the post.

      Incidentally, that HMB site regularly copies and pastes posts from this site and many other sites (so much so, that if I write in a post “I went to the store”, he’ll copy and paste those words in his post without changing it). So it’s true that he copies from our site and from other sites too (like Milestomemories and many others he copies from), but it’s rare that I get an idea from him. (I can’t speak for Will.) When I do get an idea from him, it doesn’t make sense to me to link to his site; we try linking to other quality sites that we think are worth people reading.

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