Posted by William Charles on June 14, 2017
Bank Account Bonuses

Published on June 14th, 2017 | by William Charles

6

[ME, NH] Camden National Bank $300 Checking Promotion

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: ME, NH
  • Direct deposit required: Yes, $500+
  • Additional requirements: eStatements
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $500, Visa or Mastercard only
  • Monthly fees: $5-$20
  • Early account termination fee: $5, six months
  • Household limit: None listed
  • Expiration date: December 31st, 2017

The Offer

Direct link to offer

  • Camden National Bank is offering a bonus of up to $300 when you open a qualifying checking account, receive direct deposits of $500 or more during your second statement cycle and have eStatements. The bonus you receive depends on the account you open:
    • $100 for opening a Simple Promise account
    • $200 for opening a Promise Rewards account
    • $300 for opening a Promise Premier checking account

The Fine Print

  • To be eligible for account bonus you must open either a Simple Promise, Promise Rewards or Promise Premier checking account between June 12 and December 31, 2017.
  • A $100, $200 or $300 bonus will be paid, respectively, if you have direct deposits of $500 or more, of your payroll, pension or government benefits, such as Social Security during your second statement cycle.
  • Your bonus will be paid within 60 days of meeting requirements.
  • No signers on the account may be, or have been, a signer on a Camden National Bank consumer checking account within the past 6 months.
  • Limited time offer, subject to change.
  • You must be a Maine or New Hampshire resident at account opening.
  • Account must be maintained in good standing to earn bonus and rewards.
  • In addition to the direct deposit requirements, to earn cash-back rewards you must be enrolled in eStatements.
  • Account bonuses and rewards are reported to the IRS as interest income. Other terms and conditions may apply; please contact the bank for further details.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Simple Promise Checking ($5 Monthly Fee – $100 Bonus)

This account has no monthly fees if you have eStatements (also a requirement for the bonus), otherwise a $5 fee is charged.

Promise Rewards Checking ($5 Monthly Fee – $200 Bonus)

This account comes with a $5 monthly fee. This is waived if you do any of the following:

  • Have an average monthly balance of $100+
  • Keep a balance of at least $2,500 or more in any combination of qualifying deposit and certificate of deposit balances

Promise Premier Checking ($20 Monthly Fee – $300 Bonus)

This account comes with a $5 monthly fee. This is waived if you do any of the following:

  • Keep a minimum average balance of $2,500 or more in your account
  • Keep a balance of $25,000 in total deposit balances
  • Consumer and residential mortgage loan balances of $150,000 or more

Early Account Termination Fee

There is an early account termination fee of $5 if you close the account within 6 months of account opening.

Our Verdict

Shouldn’t be difficult for people to keep the promise premier checking account fee free so the $300 bonus is easily the best (if you don’t have $2,500 to spare then you might have to go for the $200 bonus). Given that it’s a soft pull this bonus is a no brainer if you live in the target area. Definitely adding it high on our list of the best checking current sign up bonuses.

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6 Responses to [ME, NH] Camden National Bank $300 Checking Promotion

  1. Zjcalo says:

    Data Point: Up to $500.00 credit card funding with Visa or MC only

    • Amanda says:

      Did it code as a purchase or cash advance? And which card did you use? I’m wanting to use a Visa but only if it codes as purchase.

      • Zjcalo says:

        It actually just showed up on my credit card and it coded as a purchase.

        I used a Chase Ink Business Cash card, so YMMV on other cards

  2. Joey says:

    Data Point: Citi AA Platinum posted as purchase

  3. Michael Carter says:

    This says the early account termination fee is only $5… Can anyone confirm that is correct? I’ve never seen such a low fee, just wanted to make sure it wasn’t a typo ($50 sounds more typical).

  4. Mike says:

    Is there a promo code you’re supposed to use? When you select the account type, there’s a space to enter a promotional code.

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