Posted by William Charles on September 11, 2019
Bank Account Bonuses

Published on September 11th, 2019 | by William Charles

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[Expired] [MA, CT, ME, NH, RI, VT] Cambridge Savings Bank $300 Checking Bonus

Deal has expired and is no longer being offered, view more bank account bonuses by clicking here.

Offer at a glance

The Offer

Direct link to offer

  • Cambridge Savings Bank is offering a bonus of $300 when you open a new Performance or Performance Plus Checking Account and complete the following requirements:
    • Receive monthly direct deposits totaling $1,000 or more for three consecutive months account opening
    • Complete five posted debit transactions (checks paid, debit card transactions and ACH debits) for three consecutive months following account opening

The Fine Print

  • Earn a $300 bonus when you open a new Performance or Performance Plus Checking Account with a $10 minimum opening deposit between 9/1/19 and 10/31/19 and 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. Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits from your employer or the government. Person- to-person and bank transfers between your Cambridge Savings Bank accounts or accounts you have at other financial institutions do not qualify.
    • (2) Complete 5 posted debit transactions, including checks paid, debit card transactions, wire transfers, or ACH debits. For example, a qualifying account type opened and funded during the month of September must complete the requirements in the months of October, November, and December in order to qualify for the bonus.
  • New account funding must be completed by 10/31/19.
  • You must not currently have a Cambridge Savings Bank personal checking account or have had one in the last 12 months.
  • A $300 credit will be made to your checking account within 30 days of completing requirements as long as qualification conditions are met and the account remains open in good standing.
  • The value of the bonus will be reported to the IRS as interest.
  • Limit one bonus per household. Offer cannot be combined with any other offers and may be withdrawn at any time.

Avoiding Fees

Monthly Fees

Performance checking is the easiest account to keep fee free. This has a $10 monthly fee that is waived if you have an average checking balance of $1,000 or greater

Early Account Termination Fee

I wasn’t able to find any mention of any early account termination fee in the fee schedule.

Our Verdict

Previous bonuses have been $175 (no requirements) or $200 (requirements but no monthly fee to worry about). This bonus is a little bit harder to complete than those, but it’s also much bigger. I’d say that this is probably the best bonus they have offered so I’d recommend jumping on this one if you haven’t already done a previous bonus (can’t have had or have an account in the last 12 months). I’ll be adding this to our best checking bonuses.

Hat tip to MoPointsMoProblems & gbpack

Useful posts regarding bank bonuses:



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Churner
Churner

Random DP: Santander does not work as DD for this bank.

I was trying for the $200 bonus when I lost my job with easy DD switching, so I tried to make due with Santander 🙁

If you fake a DP and it works, please share! Last I checked there were no DPs.

grrizzly
grrizzly

At least one of the two options counted as a DD: Charles Schwab brokerage or TIAA Bank. I transferred from both at the same time last fall, so I don’t know which one worked (perhaps both).

gerald proscuitto
gerald proscuitto

hi there how did the charles schwab brokerage code on your cambridge savings transactions? I see my vanguard as a ACH

Peek

Status says approved on the app and I have an account number but I’m getting some strange error asking for an ARS Pin when I try to login with old credentials. Initial deposit minimum was $25, the offer said $10.

Peek

Error went away overnight and I was able to sign in with old credentials. Opening deposit is in my account so looks like I am good. I’ll be doing real DD with this one to ensure I get it.

RT

Any out of state or in branch but from out of state DP’s?

bmanamex
bmanamex

CT Resident. Applied today 9/13 and approved with LOL/? on Chex. They asked for additional docs, Driver’s License and Proof of Residency

Jon H

Barclay Aviator biz $1000 initial deposit coded as purchase/debit

gbpack
gbpack

Citi AA biz did not work for initial deposit. The system would not accept my card

kira
kira

Citi Premier $1000 initial deposit coded as purchase

gbpack
gbpack

Barclay Aviator biz worked for initial deposit

Tom
Tom

Must be chex sensitive, auto declined

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