Posted by William Charles on March 24, 2019
Bank Account Bonuses

Published on March 24th, 2019 | by William Charles

19

[MA, CT only] Florence Bank $225 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $225
  • Availability: MA or CT
  • Direct deposit required: Yes, $400+ within 60 days 
  • Additional requirements: eStatements, mobile banking
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown, Chexsystems sensitive
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: None

The Offer

Direct link to offer

  • Florence Bank is offering a bonus of up to $225 when you open a new checking account and complete the following requirements within 60 days of account opening:
    • Use promo code 225 at account opening
    • Sign up for eStatements and get a $100 bonus
    • Receive cumulative direct deposits totaling $400+ and get a $100 bonus
    • Download and log into the Florence Bank Mobile app and get a $25 bonus

 

The Fine Print

  •  Open a new Florence Bank personal checking account at our Springfield or West Springfield Branch or Online using Promo Code “225” and earn a $100 bonus when you enroll in eStatements.
  • Earn an additional $100 bonus when you have at least $400 in direct deposits cumulatively post to the new account. (The bonus amounts do not count toward the $400.)
  • Earn another $25 bonus by downloading and logging in to the Florence Bank Mobile App at least once.
  • Conditions must be met within 60 days of account opening.
  • Each cash bonus will post to your new account after each condition is met and may take up to 75 days from the account opening.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

All checking accounts they offer have no monthly fee to worry about.

Early Account Termination Fee

According to the fee schedule there doesn’t seem to be any early account termination fee.

Our Verdict

They have offered a very similar bonus in the past as well, but that required singing a song instead of mobile banking. Seems like a good bonus if it turns out to be a soft pull. If anybody goes for this bonus then please share your experiences in the comments below.

Hat tip to reader Ryan M

Useful posts regarding bank bonuses:



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weather3369
weather3369

Just an FYI, this is only certain parts of MA (assuming out west in Springfield area) because I put in my zip code and receive this: “Unfortunately this product is not available in your zip code. Please enter another or contact us for more information.” I’m in the Boston area.

Chris C
Chris C

Not available in Boston. Got the message “Unfortunately, this product is not available in your zip code.”

DT
DT

App link gives you a warning that you are leaving Florence Bank and goes to https://us.digital.computershare.com/COCC/1078/Application. Not sure if that is useful to anyone.

I live near Boston and got the following during app “Unfortunately this product is not available in your zip code. Please enter another or contact us for more information.”

LoveFreeStuff
LoveFreeStuff

Awesome, I just moved to Western Mass so I signed up for this. Thanks!

Paul D
Paul D

Where does this say it’s available in CT? Their website says they’re Mass only and I tried a few CT zip codes and none of them worked.

Andrew Donshik
Andrew Donshik

Chex sensitive apparently- I’m only at 6 or so inqs in the last 6 months too

sherry
sherry

I am filling in the form right now. No credit card funding option. must transfer from another ach.

Beefer
Beefer

Opened account no problem in CT.

Roughly 23/6 chex.

Bonus has not posted immediately like I had hoped. Signed up for estatements and app today. Sending chase ACH now. Will report back.

Beefer
Beefer

Chase Personal ACH coded as “JPMorgan Chase Ext Trnsfr” which they classify in their system as an external transfer.

Unsure of the implications of this for the bonus but I’m gonna keep prodding and see if it says “Direct Deposit” for other transfers.

Andrew Donshik
Andrew Donshik

wild-they declined me for chex velocity

Beefer
Beefer

It’s probably manual approval. That’s why I time it for monday morning. Always have better luck with approvals on mondays.

Cerulean
Cerulean

Has anyone tried using a different ZIP than where they live?

Beefer
Beefer

03/27/19 Account Opened
03/28/19 Signed up for EStatements and signed in to Mobile App
03/29/19 Chase ACH (Posted as Jpmorgan Chase Ext transfer)
04/01/19 $100 Bonus Posted (For Estatements)
04/01/19 $25 Bonus posted (For App Signin)

Gonna keep trying the DD. Luckily I overpaid my taxes so I’m going to send $400.01 from that.

Beefer
Beefer

Tax return posted as: IRS TREAS 310 TAX REF

Beefer
Beefer

Tax return posted as: IRS TREAS 310 TAX REF 04/08/19
Bonus posted 04/09/19

Unsure if Chase counted or if tax return did. I have to assume the tax return counted and it posted the next day.

Aanna
Aanna

Applied for myself and my family 4/1, approved afternoon of 4/1, set up online accounts, e-statements, and logged in to mobile app.

All my family’s accounts were shut down 4/2 — they said because of Chex, but my Chex velocity has been really low lately. No new accounts in over 4 months.

I think they closed the accounts because I got locked out and couldn’t get in to my husband’s account, and I called to have them let me back in. Bet they checked and saw my whole family wanted to try this one.

Bummer.

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