Posted by William Charles on June 30, 2019
Bank Account Bonuses

Published on June 30th, 2019 | by William Charles

32

[FL, MA, NJ, NY, VT] Trustco Bank $100 Personal Checking Bonus + $50 Savings Bonus

Update 6/30/19: Deal is back and valid until July 31st, 2019, this time you can get an additional $50 bonus by opening a savings account. Hat tip to reader IS250

Offer is being advertised on the home page again. Still shows a 9/30/18 end date but I suspect this will be updated shortly. Hat tip to Richard N

Offer at a glance

  • Maximum bonus amount:
  • Availability: FL, MA, NJ, NY, VT, must open in branch [Branch locator]
  • Direct deposit required: Yes, full paycheck/benefits
  • Additional requirements: None
  • Hard/soft pull: Soft
  • Chexsystems: Yes
  • Credit card funding: Can’t be funded with a credit card
  • Monthly fees: $5, avoidable
  • Early account termination fee: $26 if closed within three months + you forfeit bonus
  • Household limit: None listed
  • Expiration date: August 31st, 2018 September 30th, 2018 July 31st, 2019

The Offer

Direct link to offer

  • Trustco Bank is offering a bonus of $100 when you open a Home Town Premier checking account and complete the following requirements:
    • Set up a direct deposit (entire amount from recurring Payroll, Social Security, and/or Pension (minimum of $100 monthly Direct Deposit). Must be completed within 60 calendar days of July 31st, 2019
  • Get an additional $50 when you open a new savings account as well (excluding club accounts)

The Fine Print

  • Promotional offer valid from 6/3/19 until 7/31/19.
  • To receive the $100, you must open a Home Town Premier Checking or Home Town Free Checking Account with Direct Deposit
  • Minimum of $50 to open a Home Town Premier or Home Town Free Checking Account.
  • To receive the $150, you must open a Home Town Premier Checking or Home Town Free Checking Account with Direct Deposit and a new Savings Account (Club Accounts excluded).
  • Direct Deposits must be the entire amount from a recurring Payroll, Social Security, and/or Pension (minimum of $100 monthly Direct Deposit).
  • Direct Deposit must be completed within 60 calendar days from end of promotion. Bonuses will be paid within 60 calendar days of verification of Direct Deposits.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The Home Town Premier checking account has a $5 monthly fee, this is waived with either:

  •  Direct Deposit of Payroll, Social Security or Retirement Income Or
  • $500 monthly average collected balance

Not sure what the balance requirement is to keep the savings account fee free.

Early Account Termination Fee

If the account is closed within three months you have to pay a $26 fee, you also forfeit the bonus.

Our Verdict

Not the biggest bonus available, but might be worth doing for those who have already done the bigger/easier bonuses in their area. Will add this to our best bank bonus page.

Useful posts regarding bank bonuses:



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Drew Whitford
Drew Whitford

Dont see how to apply online. Maybe I’m blind, maybe its not possible to open online.

Brian
Brian

Post says in branch

K
K

Does anyone know if banks are aware of whether or not you actually do a full direct deposit? My work allows me to do up to three checking accounts at once and I currently have at least two DD’s going on toward a promotion.

Jan B
Jan B

My experience with Trustco started and ended with a minority stake of only $100 from a well funded pension direct deposit. So, no,Trustco will not know anything was cut short from them.

Joseph Smith
Joseph Smith

Fees: No Monthly Service Fee with: Direct Deposit of Payroll, Social Security or Retirement Income Or a $500 monthly average collected balance.

https://www.trustcobank.com/page/home-town-checking-35.html

Cheers, amigos!

newbie
newbie

ETF:$26 if acct close in less than 3 months plus bonus

Jan B
Jan B

I think we made it to 90 days or so.

RT
RT
DirtyLilRat
DirtyLilRat

Thanks. Post should be updated…

Richard N

You know i read the fine print on the offer. Im not sure but i think the “entire amount” means that it can only come from direct deposit. Im going to go by the branch and ask them. It loosk like i can just DD $50 every 2 weeks abnd qualify for the bonus

arihalli
arihalli

Rich, could you let us know? I would only want to DD $100 as well. Thanks

Richard N

Ok, i called the branch near me and i spoke to the manager. She said it only has to be a minimum $100 per month and that if i only deposit $50 every 2 weeks that qualifies. She said after 2 cycles of direct deposits (I assume billing cycles/months) they pay the bonus within 2 weeks.

arihalli
arihalli

Rich, thanks!

Jan B
Jan B

Sure is interesting language, ie, “entire amount”. I think that’s projecting and I think small banks are conflicted on this. Sure they want new customers but maybe they really “don’t want” some customers. As I commented, I sure didn’t share the entire amount.

John
John

any data points so far on what counts as dd (besides payroll, ss, etc.)?

Richard N

This deal is back on! When you go to the banks main website, it pops up. While i realize there aren’t many people that have a Trustco bank in their area. I do have some DP’s. i did sign up for this and it only requires a DD of $50 every 2 weeks for a minimum of $100 a month. it’s only $100 bonus but its very easy to get. They require $50 cash to open. But no minimum balance requirement, To keep the account fee free u just need a regular DD, No amount specified.

Gui
Gui

no offer on home page, no popups either.

Richard N

You are correct. The offer is not on the home page now BUT. I had to go by Trustco today anyway and there are signs up for this offer and there were flyers and i grabbed one to read the fine print. This is an In-Branch offer only. The offer is till October 31st. and remember you need $50 cash to open the account. It’s not the best bonus but its easy to get.

Richard N

This is not expired. I went in the branch today and got a flyer, The flyer says the expiration date is Octorer 31st 2018. They also had signs up which i took a pic of one. Yes this does not show up online anymore but this is an IN-branch deal. i will try to post some pics.

Alan
Alan

This (or something like it) might be back on. Saw an ad in The Post Star (digital snippet here: https://bloximages.chicago2.vip.townnews.com/poststar.com/content/tncms/assets/v3/eedition/e/7c/e7cb4948-9fb3-5d52-b99c-c28cd2d508b5/5c480b2918f20.fullsize-img.jpg). Unclear whether it is online or only in branch.

IS250
IS250
Gadget 🕵️

William Charles “Direct link to offer” needs to be updated with IS250’s links

dean
dean

If you’re trying anything but a legit employer DD, odds are low. I wouldn’t be surprised if they are individually inspecting direct deposits to qualify for this promo.
I have branches for this bank in my area, and have had a business account with them for a while. The bank has quite the haphazard feel to it, and their IT systems are ancient. For example, a deposit at the ATM is hand-processed on the back-end, and they mail you the deposit receipt a week later.

IS250
IS250

Any idea on Chex sensitivity?

Harold
Harold

To receive the $50 savings bonus, the current promotion requires that you open a Statement Savings Account. It has a $200 minimum balance to avoid the service charge.

Jan B
Jan B

Thank you for that DP.

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