Posted by William Charles on March 15, 2016
Bank Account Bonuses

Published on March 15th, 2016 | by William Charles

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[Expired][CT only] Bankwell $150 Or SMEG Toaster Checking Promotion

This bonus is no longer available, you can view new Bankwell bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $150 Or SMEG Toaster
  • Availability: CT only, branch locator
  • Direct deposit required: None
  • Additional requirements: Deposit $2,000
  • Hard/soft pull: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $20-$30 waivable
  • Early account termination fee: Unknown
  • Expiration date: None listed

The Offer

Direct link to offer

  • Receive a sign up bonus of $150 Or SMEG Toaster when you open a new my Bankwell Choice or Choice Preferred Checking account with a minimum opening balance of $2,000

bankwell $150 promo

The Fine Print

  • Customers opting for the $150 cash bonus will have bonus deposited into their checking account within 7-10 business days of account opening
  • Offer good for personal accounts only and limited to customers who do not currently have a Bankwell checking account
  • Limit one gift or cash bonus per address
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Not sure if there is any early account termination fee as I wasn’t able to find their fee schedule.

my Bankwell Choice $20 Monthly Fee

Monthly fee is waived if you do any of the following:

  • maintain a $2,000 average balance in checking for the current statement cycle or
  • $15,000 combined average balance in all linked personal checking, savings and money market accounts for the prior month
  • OR Recurring Direct Deposit AND 5 point of sale debit card transactions that post and clear during the statement cycle

my Bankwell Choice Preferred Checking $30 Monthly Fee

Monthly fee is waived if you do any of the following:

  • maintain a $10,000 average balance in checking for the current statement cycle OR
  • $75,000 combined average balance in all linked personal checking, savings, money market and CD accounts for the prior month

Our Verdict

Not sure why you’d want a $150 toaster, but that’s how much it goes for on Amazon as well. This isn’t a bad deal if it’s a soft pull to open (and even better if you can fund with a credit card), bit annoying keeping the account fee free but not a massive issue for people with $2,000 in spare cash (which you need for the bonus anyway).

If you have any experience with this bank, please share in the comments. We’ll add it to our best checking promo list if we can confirm it’s a soft pull to open.

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PENNY
PENNY

Do I have to be a CT resident to get this deal? I am in MA but I visit my parents in CT every month. Figure I could swing by the bank.

yy
yy

Smeg? What a horrible name. Reminds me of smegma.

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