Deal has expired, view the best current checking bonuses here.
Update 1/14/19: Deal is back and valid until March 31st, 2019. Hat tip to reader Rob.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Must reside in MA, CT, ME, NH, RI, VT
- Direct deposit required: Yes, $1,000+ for three consecutive months
- Additional requirements: Yes, see below
- Hard/soft pull: Soft pull
- ChexSystems:Yes, looks to be ChexSystems sensitive as well
- Credit card funding: Can fund up to $1,000 with a Visa, Mastercard or Discover card (this is now a total limit, rather than per account)
- Monthly fees: None
- Early account termination fee: None
- Household limit: One
- Expiration date:
October 31st, 2018March 31st, 2019
Contents
The Offer
- Cambridge Savings Bank is offering a bonus of $200 when you open a new Simple, Performance, or Performance Plus personal checking account and complete the following requirements:
- Receive monthly direct deposits totaling $1,000 or more for three consecutive months account opening
- Complete three posted debit transactions (checks paid, debit card transactions and ACH debits) for three consecutive months following account opening
The Fine Print
- Earn $200 when you open a new Simple, Performance or Performance Plus Checking Account with a $10 minimum account opening deposit between 9/1/18 and 10/31/18 and complete the following requirements in each of the first 3 months after account opening: (1) Receive direct deposits totaling $1,000 or more. (2) Complete 3 posted debit transactions (checks paid, debit card transactions and ACH debits).
- You must not currently have a Cambridge Savings Bank checking account or have had one in the last 12 months.
- A $200 credit will be made to your checking account within 120 days of account opening as long as qualifications are met and account remains open in good standing.
- No minimum balance is required to receive the credit.
- The value of the credit will be reported to the IRS as interest.
- This offer cannot be combined with any other offers and may be withdrawn at any time.
- One offer per household.
- All other rules and regulations for checking accounts apply.
Avoiding Fees
Monthly Fees
Simple checking account has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find any mention of any early account termination fee in the fee schedule.
Our Verdict
Earlier in the year they were offering a $175 bonus, but with no requirements to get the bonus. It did require an account that had a monthly fee, but that was easily avoidable. Keep in mind the fine print states you can’t do this current offer if you’re a current account holder or have held one in the last 12 months. I think that old offer was better as it didn’t require direct deposit or debit transactions and was only $25 less. This offer might be worth considering if you missed out on that offer though as who knows when a better offer will be back (or if one will come back at all). I’m unsure if I will be adding this to the best checking account bonuses due to the previous better offer, let me know in your comments below. Also please keep in mind that they are ChexSystems sensitive.
Big thanks to all the readers who sent this in, sorry it took me so long to get to
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
Has anyone gotten this payed out recently? I opened in the beginning of March and did legit DD combined with Amazon reloads in March/April/May/June, my 120 days is up today but no bonus posted.
had my third (legit) DD 6/28/19 and $200 bonus posted for me yesterday 7/5/19. maybe you got yours yesterday too. if not, the terms are 30d from completing the requirements so you still may be within that window.
the $200 posted for me 7/5/19 (all real DD), I just got impatient with it taking all the way until the end of the time window
My $200 bonus also posted on 7/5.
[solved] Please delete.
For those in 2-player mode, you can only use your own CC for funding. GF declined because she tried using my CC.
Seems like they are very finicky and decline for any reason
Heads up that CC funding is now total, not by account.
Thanks
Anyone have issues with the email verification part of the application? Seems like it takes almost half an hour to receive a code via email.
Update: Looks like it gets sent faster if you request to resend email.
Anyway, looks like I just got approved for an account and it was opened instantly.
Had 8-10 accounts opened (estimating) in the past 12 months.
Pablo what are you using for direct deposits?
Probably going to be doing real DDs using my job since not enough information out there.
Just a quick note, they updated the language and you need 5 posted debit transaction per month now to receive the bonus.
The offer only requires $1K in cumulative direct deposits over 3 months, not monthly direct deposits. See the fine print on the page itself.
Opened and funded $1K with a Barclaycard JetBlue+. Took about a week to be approved and post (as purchase, cash advance limit already reduced).
Nope, you need to do it for three months:
complete the following requirements within each of the first full three calendar months following the date the new account is funded: (1) Receive cumulative direct deposits totaling $1,000 or more
Anyone try opening in branch? Is it chexsys sensitive doing in person?
Application wouldn’t go through in Chrome. Tried Internet Explorer and it worked.
Funded with CSR, $1,000. Email from them says that application is “under review”.
Direct deposit requirement: I opened an account at CSB during the previous promotion and have gotten the bonus by now. I transfered $1000 from both Charles Schwab brokerage and TIAA Bank (Everbank) each month three months in a row. The transfer from at least one of these two institutions worked as a direct deposit. Most likely Charles Schwab brokerage.