Posted by William Charles on January 14, 2019
Bank Account Bonuses

Published on January 14th, 2019 | by William Charles

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[Expired] [MA, CT, ME, NH, RI, VT] Cambridge Savings Bank $200 Checking Bonus

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

The Offer

Direct link to 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  • This offer cannot be combined with any other offers and may be withdrawn at any time.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

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Jordan Robbins
Jordan Robbins

Anybody know what exactly 1 per household means? I’m not eligible for the bonus because I got a $175 checking bonus for leaving $1,000 in an account for at least 3 months earlier this year. I closed the account shortly after the 90 days was up. P2 didn’t do that one because of 1 per household language, I wonder if she can do this one because it is a different bonus?

Dingyi Qian
Dingyi Qian

So basically, after a couple of months, call to close the account and wait for the check mailed?

Fred Wu
Fred Wu

Monthly direct deposits $1,000 for three consecutive months means I need put total 3000 direct deposits in this bank?

rob
rob
grrizzly
grrizzly

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.

HardTacoKit
HardTacoKit

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”.

Sam
Sam

Anyone try opening in branch? Is it chexsys sensitive doing in person?

Jane
Jane

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).

Devon
Devon

Just a quick note, they updated the language and you need 5 posted debit transaction per month now to receive the bonus.

Pablo
Pablo

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.

Sid
Sid

Pablo what are you using for direct deposits?

Pablo
Pablo

Probably going to be doing real DDs using my job since not enough information out there.

churn
churn

Heads up that CC funding is now total, not by account.

kreo
kreo

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

W.C
W.C

[solved] Please delete.

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