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
- 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
They offer a free checking account with no monthly fees to worry about.
Early Account Termination Fee
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:
- 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