Looks like you only receive the $50 referral now and not the $100 for signing up.
Offer at a glance
- Maximum bonus amount: $100 (+$50 per referral)
- Availability: ME
- Direct deposit required: Yes, $100+
- Additional requirements: None
- Hard/soft pull: ?
- Credit card funding: Yes, unsure of amount
- Monthly fees: $0
- Early account termination fee: ?
- Expiration date: None specified
The Offer
- Open a personal checking account with BiddefordSavings with a qualified direct deposit and receive $100, make sure you enter the promo code “SWITCH” if applying online
- Receive another $50 for every member you refer that completes the requirements for the $100 bonus (they’ll also receive the $100 bonus)
The Fine Print
- Minimum account opening is $100
- Must be a new account holder, existing account holders are not eligible
- Direct deposit must be initiated within 30 days of account opening
- A qualifying direct deposit is: paycheck, pension, social security or other regular monthly income above $100
- Direct deposit must be made by employer or outside agency
- To receive the $50 referral bonus you must be named on the referees enrollment form, there is no limit to the number of $50 referral bonuses you can receive
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Basic checking has no monthly fees associated with it, we’re unsure if there are any early account termination fees because their fee schedule is not publicly available. We’ll update this page when they send us a full fee disclosure.
Our Verdict
This is a pretty decent deal, unfortunately it’s only available to those in their market area. They only have offices in select areas of Maine (Biddeford, Kennebunk, Scarborough, Waterboro). It’s also unknown if it’s a hard or soft pull and what counts as a direct deposit, my suggestion would be that somebody who lives in the area signs up for this deal – they can then find out the answers to these questions.
If it’s a soft pull then they can recommend their friends and family members to do the same and earn a $50 bonus per family member, if you do this please feel free to share the information as well as your e-mail so people can request your information to use as the referrer.
We’ve added this to our main list of checking bonuses, it didn’t make the cut for the best bonuses due to so much information being unknown and the tiny area it covers.
Direct link to offer | Screenshot of offer