Update 5/23/20: Deal is back, no end date listed. Hat tip to Anna
Offer at a glance
- Maximum bonus amount: $200
- Availability: MA, NH, and RI
- Direct deposit required: Yes, $2,500+ within 60 days of account opening
- Additional requirements: Open savings and fund it with at least $500
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $500 (this is a hard limit per application, doesn’t matter if you have two accounts in same application or not)
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date:
August 31st, 2019October 31st, 2019 December 31st, 2019None listed
Contents
The Offer
- HarborOne is offering a bonus of $200 when you open a new checking account and complete the following requirements:
- Make direct deposits of at least $2,500 within 60 days of account opening and receive a bonus of $100
- Open a new savings or money market account and make deposits totaling $500 within 60 days of checking account opening
- Register for the bonus – make sure to use the same e-mail address you used when opening the checking account
The Fine Print
- Location where offered: Offer available 7/1/2019-8/31/2019 only to residents of MA, NH, and RI.
- Registration: Account holders must open and fund their account AND register for the bonus by 8/31/19 at harborone.com/register in order to be eligible.
- Criteria for New Customers: New customer to the Bank; Existing customer that did not have a checking account; Existing customer that is not the tax owner on any existing checking account; Considered new if the customer has not had a checking account in prior 12 months; If multiple accounts are opened with the same signer, only one account will be eligible for the incentive.
- To receive the $100 Checking bonus: 1) Open any new eligible HarborOne Personal Checking Account; 2) Receive direct deposits totaling at least $2,500 to this account within 60 days of account opening. Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits such as social security from your Employer or the Government. Direct Deposits that do not qualify include: deposits to your account made by an individual using online banking or internet payment provided, Person–to–Person and bank transfers between your existing HarborOne Bank accounts or accounts you have at other financial institutions or brokerages.
- To receive the $100 Savings bonus: Open any new eligible HarborOne Personal Savings or Money Market account in accordance with the minimum opening balance requirement and make deposits totaling $500.00 within the first 60 days of the Checking Account Opening. (Must also complete checking bonus requirements to be eligible for the additional $100.00)
- Bonus Conditions: Account must remain open, active, in good standing, and in the same product type through the 60 day period from account opening to receive the bonus for noted offers above. Once the offer criteria is met, the bonus will be credited into the new personal checking or savings account no later than 80 days from account opening.
- Bonus offers do not apply to those customers who have been paid a promotional premium in the past 24 months.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
You can open the Free Plus Checking account and still qualify for this bonus, this account has no monthly fee. CheckIt Savings also has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find any early account termination fee in the fee schedule.
Our Verdict
Previously they offered a bonus of up to $500, the requirements for the full $500 bonus were much more difficult to meet but still do-able for a lot of people. There was also a comparable offer for $300 that required $5,000 in direct deposits. That was last offered in 2018, so I’m not confident a similar big bonus will come back. Because of that I will add this to our list of the best checking account bonuses.
Hat tip to reader DayTradeIt
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
Bonus paid out today 10/13.
Opened 7/31, real DD of $2501 the next week.
Even though it says you are considered a new customer after 12 months of not having an account with them, you are ineligible for another bonus if you received one in the past 24 months so that also needs to be considered. Worth mentioning in the terms and conditions.
“Bonus offers do not apply to those customers who have been paid a promotional premium in the past 24 months.”
Added, thanks.
09Jul2020: Opened checking and savings accounts.
28Jul2020: Met savings requirement of $500. $400 through initial account funding, and added $100 more through checking account transfer.
11Aug2020: Met checking requirement with employer DD.
21Sep2020: $100 Bonuses for both checking and savings accounts posted.
DP:
5/27/2020 – Opened Savings and Checking Accounts
6/5/2020 – Funded Checking $510 (Ally) and transferred from Checking to fund $500 in savings shortly after
6/12/2020 – Real Employer DD ~1260 deposit (Coded as employer name)
6/26/2020 – Real Employer DD ~1260 deposit (Coded as employer name)
7/10/2020 – Real Employer DD ~1260 deposit (extra one) (Coded as employer name)
8/10/2020 – Bonus of $100 in Checking and $100 in Savings
Have you closed the account yet?
Opened i-Checking (6/4/2020) and Club Savings (6/8/2020), funded $500 each from Citi DC.
Employer DD through June and July, passed $2,500 DD amount 7/10/2020.
$100 checking and $100 savings bonus both posted 8/10/2020.
6/3 Funded accounts with $500 Bank of America Cash Rewards credit card (as “online purchase”) $10 checking/$490 savings
6/9 Transferred $10 into savings to bring balance up to $500
6/12 Employer direct deposit to checking $835.00
6/26 Employer direct deposit to checking $835.00
7/10 Employer direct deposit to checking $835.00
8/10 Both $100 bonuses posted
Funded $500 with WoH, counted as a purchase.
Got to know from branch, to open an account one must be US citizen.
Nope, I am a permanent resident and I opened an account in-branch. But citizenship is required for online opening.
Initial funding of $500 into a Club Savings account from a Citi Rewards+ credit card went through as a purchase.
Check it savings is only for people aged 16-21. Others need a different savings option