Deal has expired and is no longer being offered. View the best current checking bonuses by clicking here.
Originally posted 07/23/17. Update 08/05/18: Offer is back, this time for $200 and this time available online. (Thanks to reader TT)
Offer at a glance
- Maximum bonus amount:
In branch only, all branches are in CT[Branch locator] “Must reside in Fairfield or New Haven counties in Connecticut”
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Five debit card transactions
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Yes, Visa/MC/Discover(unknown limit)
- Monthly fees: One
- Early account termination fee: Unknown
- Household limit: One
- Expiration date:
August 31st, 2017Unknown
- Open a new free smart checking account with BankWell and get a bonus of $100 when you complete the following requirements within 90 days of account opening:
- Set up a recurring direct deposit
- Complete 5 debit card transactions (no longer required?)
The Fine Print
- Smart Checking is free of monthly maintenance charges
- To qualify for $100 cash bonus, customers must open a Smart Checking account before 8/31/17 (which is subject to approval), set up a recurring direct deposit and perform 5 debit card transactions that post and clear within a monthly statement cycle. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
- You have 90 days to complete the requirements and earn the bonus.
- Once you have completed the checking requirements, we’ll deposit the $100 bonus into your new account within 120 days of account opening.
- A minimum of $100 is required to open the Smart Checking account. Offer effective 6/21/17 and may be withdrawn at any time.
- Offer good for personal accounts only and limited to customers who do not currently have a Bankwell checking account.
- Limit one cash bonus per address. Bonuses are considered interest and will be reported on IRS Form 1099-INT.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
I wasn’t able to find the fee schedule so I’m unsure if there is any early account termination fee or not. There is no monthly fee to worry about.
They offered a $150 checking bonus in the past with no direct deposit requirement, but it was difficult to keep the account fee free. This is a smaller bonus but easier to keep the account fee free. If anybody signs up, please share your datapoints in the comments below. We won’t add it to the best checking bonuses until we know more.
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- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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?
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- Banks That Allow/Don’t Allow Out Of State Checking Applications