Offer at a glance
- Maximum bonus amount: $100
- Availability: In branch only, all branches are in MA [Branch locator]
- Direct deposit required: Yes, $500+
- Additional requirements: eStatements + inform them when you’ve met the requirements
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: One
- Expiration date: None listed
Contents
The Offer
- Monson Savings Bank is offering a bonus of $100 when you open a free checking account and complete the following requirements:
- Set up direct deposit (minimum of $500)
- Set up eStatements
- Contact them within 30 days of meeting the requirements
The Fine Print
- Limited to one gift per household
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.
Our Verdict
Given the fact that you need to tell them when you’ve met the requirements it looks like it will be manually checked to see if you’ve met the requirements or not. Because of that and the fact it’s a small bonus I don’t think this one is worth doing. If anybody does go for it, please share your experiences below.
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
