[Expired][MA, In Branch only] East Boston Savings Bank $150 + Free Gift Checking Bonus

This deal is now over, for current promotions for checking click here.

Offer at a glance

• Maximum bonus amount: $150 + free gift
• Availability: In branch only, all locations in MA [Branch locations]
• Direct deposit required: Yes, two direct deposits. No minimum specified
• Additional requirements: Yes, see below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None/avoidable
• Early account termination fee: $25, 180 days
• Household limit: None listed
• Expiration date: June 30th, 2017

The Offer

Direct link to offer

• Open a new Simply Free Checking, a new Premier Checking or a new Interest Checking ($50 minimum opening deposit) account between April 1, 2017 and June 30, 2017 with East Boston Savings Account and receive a bonus of up to $150:
  • Get $50 when you have 2 recurring direct deposits within 60 days of account opening
  • Get another $50 when you enroll in online banking and make at least three online bill payments within 60 days of account opening
  • Get another $50 when you request a debit card and have at least 15 purchase transactions within 60 days of account opening
• According to reader Max, the free gifts were a choice between flash light, screw driver with lots of heads, tupperware set, chip/dip container, and mason jars.

The Fine Print

• Special offers available at any of our branches. Open a new Simply Free Checking, a new Premier Checking or a new Interest Checking ($50 minimum opening deposit) account between April 1, 2017 and June 30, 2017.
• Your account must be enrolled in electronic statement delivery. Get $50 when you have 2 recurring direct deposits within 60 days of account opening.
• Direct deposits include deposits made by your employer or a federal or state government agency or retirement benefits administrator and generally payments made by corporations or other organizations. They do not include deposits to your account that are made by an individual using online banking or an Internet payment provider such as PayPal.
• Get another $50 when you enroll in online banking and make at least three online bill payments within 60 days of account opening.
• Get another $50 when you request a debit card and have at least 15 purchase transactions within 60 days of account opening.
• In order to receive the bonuses, the account must remain open and in the eligible product type at the time of bonus payout.
• In addition, the account must have a positive balance at the time of bonus payment.
• Bonus is considered interest and will be reported to IRS on Form 1099-INT.
• If multiple accounts are opened with the same signer, only one account will be eligible for the bonus.
• Bonus payments will be credited to your account within 90 days of account opening if conditions are met.
• Offers apply to consumer accounts only. Employees of East Boston Savings Bank are not eligible for promotional offers. Customer is only eligible for special offers once. ($150 total).
• Gift is awarded when account is opened. EBSB reserves the right to substitute a gift of similar value. Please note, in the event the value of the free gift exceeds $10, the bank is required to report the gift value on form 1099-INT.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

They offer a free checking account with no monthly fees to worry about. I wasn’t able to find the fee schedule so I’m unsure if any early account termination fees are charged or not. Update: According to this the fee schedule is $25 if closed within 180 days.

Our Verdict

Quite a few requirements for the bonus, but worth it if you live near a branch. Upside is that at least  you don’t need to worry about any monthly fees. Free gifts aren’t anything special, but you should be able to find something at least somewhat useful. We will be adding this to our list of the best bank account bonuses.

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