[FL, MA, NJ, NY, VT, In Branch] Trustco Bank $200 Checking & Savings Bonus, Direct Deposit Not Required

Update 3/1/24: Extended until 4/30/2024

Update 2/18/24: Deal is back and valid until 2/29/2024

Update 7/31/22: Deal s back and valid until 9/30/2022.

Update 12/10/21: Deal is back and valid until 1/31/22.

Update 8/21/21: Deal is back, but the extra $50 bonus isn’t available this time round.

Offer at a glance

• Maximum bonus amount: $200
• Availability: In branch only. All branches are in FL, MA, NJ, NY, VT [Branch locator]
• Direct deposit required: Optional
• Additional requirements: See below
• Hard/soft pull: Soft
• Chexsystems: Yes
• Credit card funding: Can’t be funded with a credit card
• Monthly fees: None
• Early account termination fee: $26 if closed within three months + you forfeit bonus
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Trustco Bank is offering a bonus of up to $250 in branch. Bonus broken down as follows:
  • Get a $100 bonus when you open a new Hometown Premier or Hometown Free Checking and receive $5,000 in direct deposits or $5,000 minimum balance for 60 days or 10 debit card transactions within 45 calendar days
  • Get a $100 bonus when you Open a Hometown Savings account (club accounts excluded) with $5,000 $10,000 minimum balance for 60 days (checking account must be opened at the same time)
  • Get a $50 bonus when you enroll in online banking and E Statements

The Fine Print

• Direct Deposit must be from a recurring Payroll, Social Security, and/or Pension
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer a free checking account with no monthly fees to worry about. The savings account has no monthly fees to worry about as long as you have a balance of $200+

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

We’ve seen a $100 checking, $100 savings & $100 CD bonus in the past as well. Requirements were similar but this is a better deal as the CD bonus required $20,000 in deposits making it not worth doing. We will add this new bonus to the best bank bonus page. Although keep in mind it might not be available in all states/branches.

Hat tip to reader newbie

Useful posts regarding bank bonuses:

• 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?
• 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
• Bank Bonus Posting Times