[MA, In Branch Only] Wellesley Bank $300 Personal Checking Bonus

Offer at a glance

• Maximum bonus amount: $300
• Availability: Seems in branch only, all branches are in MA. [Branch locator]
• Direct deposit required: Yes, at least $1,500+
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $30, avoidable
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: August 31st, 2017

The Offer

Direct link to offer

• Open a new Premier Plus personal checking account with Wellesley Bank and they will give you a bonus of $300 when your account has gone through a full statement cycle and you meet the requirements to waive the $30 monthly fee. Those requirements are to do of the following:
  • Maintain combined daily balance of $25,000 at Wellesley Bank
  • Receive direct deposit(s) of at least $1,500 per month into your Premier Plus Checking
  • Complete at least two Online Bill Pay transactions from your Premier Plus Checking

The Fine Print

• The $300 promotional offer will be offered through 8/31/17.
• The $300 will be credited to your Premier Plus Checking when your account has gone through a full statement cycle and has met the requirements to waive the monthly fee.
• The $30 monthly fee will be waived if you maintain combined daily balance of $25,000 at Wellesley Bank, receive direct deposit(s) of at least $1,500 per month into your Premier Plus Checking, and complete at least two Online Bill Pay transactions from your Premier Plus Checking.
• The direct deposits may be from sources such as payroll, federal benefits, retirement benefits, or investment distributions.
• The $300 will be credited within 30 days from the end of first full statement cycle in which you met the requirements to waive the $30 monthly fee. Only new Premier Plus Checking opened after 1/30/17 are eligible for this offer. This offer cannot be combined with any other promotional offers.
• The $300 promotional offer is subject to IRS 1099-INT reporting

Avoiding Fees

Bonus requirements are the same requirements needed to waive the monthly fee of $30. Unsure if there is any early account termination fee or not.

Our Verdict

Requirements to get the bonus and to keep the account fee free are way to much for a bonus of only $300 in my opinion. They also have a $300 business checking bonus that might be worth considering but personally I don’t think this personal checking bonus is worth it. As always share your own data points with this bank in the comments below.

Big thanks to reader, Sa who let us know. Learn how to find bonuses and contribute to the site here.

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