Posted by William Charles on September 28, 2019
Bank Account Bonuses

Published on September 28th, 2019 | by William Charles

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[MA, In Branch only] East Boston Savings Bank $100 + Free Gift Checking Bonus

Offer at a glance

  • Maximum bonus amount: $100 + free gift
  • Availability: In branch only, all locations in MA [Branch locations]
  • Direct deposit required: Yes, two direct deposits. No minimum specified
  • Additional requirements: Yes, see below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None/avoidable
  • Early account termination fee: $25, 180 days
  • Household limit: None listed
  • Expiration date: December 31st, 2019

The Offer

Direct link to offer

  • East Boston Savings Bank is offering a bonus of $100 and a free gift when you open a new checking account and complete the following requirements:
    • Get $50 when you have 2 recurring direct deposits within 60 days of account opening
    • Get another $50 when you enroll in online banking and make at least three online bill payments within 60 days of account opening

The Fine Print

  • Bonus offer only available for accounts opened between September 1, 2019 and December 31, 2019 at any of our branches.
  • Minimum deposit to open any new checking account is $50.
  • Receive $50 cash bonus when you have 2 recurring direct deposits within 60 days of account opening.
  • Receive another $50 when you enroll in online banking and make at least three online bill payments within 60 days of account opening.
  • In order to receive the bonuses, the account must remain open in the eligible product type at the time of bonus payout.
  • In addition, the account must have a positive balance at the time of bonus payment.
  • Bonus is considered interest and will be reported to IRS on Form 1099-INT.
  • If multiple accounts are opened with the same signer(s), only one account will be eligible for the bonuses.
  • Bonus payments will be credited to your account within 90 days of account opening if the above conditions are met.
  • Primary customer on the account is only eligible for bonus offers once ($100 maximum).
  • Free gift is awarded when account is opened. EBSB reserves the right to substitute a gift of similar value.
  • In the event the value of the free gift exceeds $10, the bank is required to report the gift value on form 1099-INT.
  • Bank rules and regulations apply. Ask representative for details

Avoiding Fees

Monthly Fees

They offer a free checking account with no monthly fees to worry about.

Early Account Termination Fee

According to this the fee schedule is $25 if closed within 180 days.

Our Verdict

Last time this was offered the free gifts were things like flash light, screw driver with lots of heads, tupperware set, chip/dip container, and mason jars. Last time we saw this bonus there was another $50 you could do for completing some debit card purchases. That was a better deal, but was last available in 2017 so I doubt we see that return any time soon. If you live near a branch then this one is worth doing, so I’ll add this to our list of the best checking bonuses.

Hat tip to DDG

Useful posts regarding bank bonuses:



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Ben
Ben

This bank gets robbed about once a month, so would suggest against applying in person.

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