Offer at a glance
- Maximum bonus amount: $125
- Availability: MA only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: 3 bill pays
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $25 avoidable
- Early account termination fee: Unknown
- Household limit: None
- Expiration date:
March 31st, 2017April 30th, 2017
The Offer
- Melrose Bank are offering a bonus of $125 when you open a new All-In checking account and complete the following requirements:
- Sign up and receive direct deposit from payroll, pension, or recurring payment; direct deposit must be established and utilized within 90 days of account opening.
- Sign up for bill pay and pay 3 bills via Melrose Bank online banking & bill pay system within 90 days of account opening
The Fine Print
- Offer available for new Melrose Bank All-In Checking accounts opened between 2/28/2017 and 3/31/2017.
- Receive $125 when you meet two requirements: 1) Sign up and receive direct deposit from payroll, pension, or recurring payment; direct deposit must be established and utilized within 90 days of account opening. 2) Sign up for bill pay and pay 3 bills via Melrose Bank online banking & bill pay system within 90 days of account opening.
- All applicable taxes are the responsibility of the recipient.
- Bonuses limited to one account per customer and will be credited to the checking account within 90 days of completing the requirement(s).
- Offer may be withdrawn or amended without prior notice. Personal accounts only.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has a $25 monthly service charge, you can receive the following rebates:
- $10 rebate for maintaining a $1,000 minimum daily balance
- $5 rebate for using eStatements
- $10 rebate for $2,000 minimum monthly direct deposits.
I was also unable to find a fee schedule so I’m unsure if any early account termination fee is charged or not.
Our Verdict
Not a bad bonus considering it’s a soft pull, will be interesting to see what counts as a direct deposit. At the moment I don’t consider it one of the best bank account bonuses due to the fact it’s in branch and somewhat difficult to keep the account fee free. Please share your experiences and data points about this bonus in the comments below.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
