This offer has expired, but there is now a much better offer for $200.
Offer at a glance
- Maximum bonus amount: $150 + $50 for referral
- Availability: MA, CT, RI
- Direct deposit required: Optional, see below
- Additional requirements: eStatements & 5 bill payments
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Need to keep account open for 365 days to get full bonus, $10 early account termination fee if closed within 6 months
- Expiration date: None listed
The Offer
- Receive a sign up bonus of up to $200 when you open a new checking account with bankESB (East Hampton Savings Bank) broken down as follows:
- $50 opening account bonus:
- Open with internet banking (must be activated within 60 days) and a debit card OR
- Open with with direct deposit (minimum of $25 and bonus received after it posts) and a debit card
- $50 when you enable eStatements and complete five online bill payments (must post to the account within 60 days)
- $50 when you keep the account open for at least one year
- $50 referral bonus will be credited to the account after the account opener has referred someone who opens a Checking Account and has provided the referral’s name at account opening and opens the account with one of the $50 opening account bonus requirements (not sure if the person being referred is eligible for this $150/$200 bonus as well or not)
- $50 opening account bonus:
The Fine Print
- Promotional offer is for new bankESB personal checking account customers only
- $50 opening bonus + eStatement/bill pay bonus will be paid into the account by the last day of the statement cycle following the 60th day the account has been opened
- $50 anniversary Bonus will be paid into the account by the last day of the statement cycle following the 365th day the account has been opened
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The basic checking account doesn’t have any monthly fees, it makes sense to just keep this account open for at least a year so you get the $50 anniversary bonus as well. This should remove any worries about any early account termination fees as well.
Our Verdict
Another bonus I like, easy to keep the account fee free and no direct deposit required. A little bit annoying that you need to wait a full year for your last $50 bonus, not shouldn’t be a big deal given the no monthly fees. The downside is that we don’t know if it’s a hard or soft pull and if you can fund with a credit card. I didn’t add it to our best bonus list because of this, if you have any experience with this bonus then please let me know in the comments so I can update this post.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
Hat tip to reader, John.
Can someone pls share if this offer of opening a new account was a hard or soft pull.. No one has mentioned about it.
There wasn’t any pull when I opened it in February.
Good bank by the way. Everything works.
Will – they’ve changed the account promotion.
Open account (with online banking or direct deposit): $100
Activate eStatements: $50
Remain open one year: $50
No mention of the referral part now.
Also, the “new account” and “five billpay” bonuses posted today.
The account has been flawless so I intend to keep it and get
the “one year loyalty” bonus as well.
To make it as easy as possible – If anyone wants a referral, just email me ([email protected]) your name, phone number, and address that you will/already have applied to your account with and I’ll fill out the form and drop it off (I pass right by a ESB on my way home most days)
Will sign up in the next couple days, email me if you want to refer me
I would like to refer you but you did not leave email. Mine [email protected]
sorry, my email is [email protected]
Chase Freedom counted as a purchase. CA limit set to $0
BofA Amtrak posted as purchase.
Data Point – Chase IHG $1,000 funding posted as a purchase
Added, thanks.
Just opened my account now, I chose the basic checking and on the next page was where I could select online bill pay. Tried to open with $1,000 from Chase IHG with a CA set to $100. I now see it as a pending charge on my card so it may work, I will update when it goes through.
Do you want to do a referral? I am planning to open next week referral or not, it does not change anything for me but you should be interested, feeling like a beggar here trying to help people net $50.
[email protected]
Thanks.
IS anyone interested in referring me for the extra bonus? Please reach me at [email protected]
Planning to open the account this week
Thanks
I called BankESB about the refer a friend and what Kim (the CSR) told me was that I could download the refer a friend form, fill in the “friend’s” details as well as mine and mail that form in – I dont have to drop it in a branch. Alternatively, I could also call in to the Customer Service line and provider the referral details as well and they will credit both accounts when the person opening the accounts meets the requirements within 60 days of opening.
If anyone (Dave or John or anyone else) wants to refer me and willing to provide their personal info to submit to the bank, I am interested in opening this account within the next week, please reach out to me at [email protected]
Requirements below
For You: $50 will be credited to your account after someone you refer opens an bankESB Checking Account with your name given at account opening and they open the account with either one of the following options:
Open with Online Banking (must be activated within 60 days of account opening) and a bankESB Debit Card
Open with Direct Deposit (bonus achieved after the first direct deposit is made with a minimum of $25) and a bankESB Debit Card.
If achieved, this $50 Bonus will be paid into your account by the last day of the statement cycle following the 60th day the referred account has been open.
For Your Friend: $50 will be credited to the new account when opened with either one of the following options:
Open with Online Banking (must be activated within 60 days of account opening) and a bankESB Debit Card
Open with Direct Deposit (bonus achieved after the first direct deposit is made with a minimum of $25) and a bankESB Debit Card.
If achieved, this $50 Bonus will be paid into your account by the last day of the statement cycle following the 60th day your account has been open.
Thx for finding/posting this Will.. I have some info to share.
A $10 fee for closing account within first six months.
CC funding up to $1000 available via Visa/Mastercard/Discover.
I tried to use Discover funding, but it was declined. My cash advance is set to $0. on that card.
Rather than risk a CC fee on another card, I setup a transfer from Santander checking.
I chose Premier checking without overdraft (don’t know if it was soft/hard inquiry tho)
Looks like the Basic Checking does not have online bill pay…?
Thanks for the data, Dave. Your thanks should really go to reader John that shared this information though. Shame you don’t know whether it’s not a hard pull, you don’t have any free credit monitoring set up?
Yes, thx John for sharing this promotion.
Will, is there a site which provides instant updates of credit inquiries?
And will it show what ChexSystems see, or just hard pulls?
Thx
Credit monitoring sites will provide info on hard pulls but no ChexSystems, this is the combo I use: https://www.doctorofcredit.com/whats-best-cheapest-way-monitor-credit/
Dave, do you want to do a referral for me?
Thanks.
Good catch that of the no bill pay for the basic. Was there a promo code to be entered in the application page? There is a field for it there. Thanks.
Sa – So far, all that I have is an email with a link to verify the test deposits from my external bank, so no referrals or any access yet.
I have been told (via chat) that this offer does not utilize that promo box, so no worries about that.
All it says about the referral is:
“YOU AND YOUR FRIEND CAN EARN $50!
As a bankESB customer, you can earn $50 just for referring your friends and family to try bankESB Checking.
Our Refer-A-Friend program is designed to thank you for your business and rewards you for referring your friends and family.
Here is how it works.
Download and print our Refer-A-Friend card or obtain them from your local branch.
Write your name on the cards and give them to your friends and family.
When your friends and family open a new checking account with your referral card and one of the following: Online Banking and a bankESB Debit Card or Direct Deposit with a bankESB Debit Card…you’ll both receive $50 (please refer to disclosures below).”
Since I have no intention of driving to their branch, I do not see a way to tell them your name while opening the account online. I was hoping you knew how. Thank you for your data.
Looks like they want to keep the referral process limited to close contacts 🙂
Dave, the information below dashes was copied/pasted from my account confirmation:
——————————————
Summary of Accounts Opened
Basic Checking
Account Options:
Debit Card
Free Online Banking with Bill Pay
EStatements
Free First Order of 50 Checks
It appears that they have updated the landing page, which now shows Online Banking for the Basic Checking account.
I did not see all of these features listed there last night:
http://i.imgur.com/lxCzL4A.jpg