Update 7/7/23: Bonus is now $350.
Update 5/13/19: Bonus can now be opened online. Hat tip to reader Flea
Offer at a glance
- Maximum bonus amount: $250
- Availability:Â NY only [Branch Locator]
- Direct deposit required:Â Yes, $500+
- Additional requirements:Â See below
- Hard/soft pull:Â Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees:
- Early account termination fee:Â $20, 180 days
- Household limit:Â One
- Expiration date:Â None listed
The Offer
- Earn $25 when you open a new qualified BSNB (Ballston Spa National Bank) checking account. Get another $325 when the following requirements are met:
- Open a Free Direct Checking, GO Checking, or Premier Checking account
- Receive a qualifying direct deposit of $500 or more monthly
The Fine Print
- To qualify for the $250 reward, you must open a new Free Direct Checking, GO Checking or Premier Checking account and receive at least one direct deposit in the amount of $500 or more monthly.
- The initial direct deposit must occur within 60 days of account opening.
- Account must be open and in good standing to receive the cash reward. Cash reward paid within 90 days of account opening.
- All cash awards may be subject to 1099 tax reporting.
- This offer may not be combined with any other offer and does not apply to second or multiple checking accounts within the same household or for customers who have closed a checking account within the last 180 days.
- These limited time offers may be withdrawn or changed at any time.
- All standard account requirements apply.
- Additional conditions may apply.
- Employees of BSNB are not eligible.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
$25 Referral Bonus
Might also be possible to get another $25 via  referral bonus. More info here.
Avoiding Fees
The Go Direct checking account has no monthly fee to worry about. According to the fee schedule there is a $20 early account termination fee if the account is closed within 180 days.
Our Verdict
Previously they offered a $160 personal checking bonus and they still offer a $240 business checking bonus you could do at the same time if you qualify. This is likely to be a deal worth doing if you live near a branch and if it’s also a soft pull to open the account. As always please share your data points if you decide to go for this bonus.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
Their accounts have fees as shown here https://www.bsnb.com/personal/checking-accounts.php
Free Direct Checking is $10 or free with a monthly real Direct Deposit.
GoChecking is $5 or free with 10 electronic monthly transactions: “If 10 electronic monthly transactions are met, the $5 monthly maintenance fee will be waived. These transactions must be posted during the statement cycle and can be a combination of the following: Direct Deposits, Point of Sale Transactions, Mobile Check Deposits, Electronic Transfers via Online Banking or Mobile Banking, or ACH Transactions (Debit or Credit).”
Premier Checking is $15 or free with $20,000.
Student Checking and Basic Checking are not listed as eligible for the reward.
Met requirements and still no bonus
DP:
Opened 3/11/2021
All deposits >$1000
DD (paycheck) 3/26
DD (paycheck) 4/9
DD (paycheck) 5/7
DD (paycheck) 6/4
statement closed: 7/30 – still no bonus as of 8/5
Added note: received notification in early July that now requires minimum balance of $500
File a CFPB complaint. Had to do that with TrustCo and they promptly paid.
did the bonus ever posted?
They now require you to go in and sign a signature card in person.
Should probably clarify that the bonus requires a $500 direct deposit for at least 3 consecutive months, not just one deposit.
*To qualify for the $250 reward, you must open a new Free Direct Checking, GO Checking or Premier Checking account and receive monthly direct deposits in the amount of $500 or more for at least 3 consecutive months. The initial direct deposit must occur within 60 days of account opening. Account must be open and in good standing to receive the cash reward. Cash reward paid within 30 days of meeting the direct deposit requirement. All cash awards may be subject to 1099 tax reporting. This offer does not apply to second or multiple checking accounts within the same household or for customers who have closed a checking account within the last 365 days. This limited time offer may be withdrawn or changed at any time. All standard account requirements apply. Additional conditions may apply. Employees of BSNB are not eligible.
Tried to open in branch a few weeks ago, denied due to Chex
Anyone get paid by these clowns yet?
Not yet, but the terms specify I believe 90 days after account opening (assuming you’ve met the conditions) is when they will pay the bonus.
Unfortunately due to the Moneylion fiasco I stupidly got involved with, I don’t think I made the $500 DD in time.
Two more DP:
Santander ACH doesn’t count as DD
Chase ACH doesn’t count as DD
Looks like only real DD will work.
Just an FYI:
Chase “push” to BSNB does not count (shows up as an External ACH Transfer whereas a real DD shows up as Direct Deposit).
Will try with Key Bank and Santander though.
A few things to change:
1) The DD isn’t $400+. The offer clearly states $500 is needed.
2) No credit card funding is possible. The Free Direct Checking requires $50 min. opening deposit.
Got a call today after applying. Was told “Due to the Patriot Act I have to come into branch to sign final documents.” Refused to allow me to fax documents. What a load of bullshit
William Charles