[MA, NH, and RI] HarborOne Bank $200 Checking & Savings Bonus

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, 2019 October 31st, 2019 December 31st, 2019 None listed

The Offer

Direct link to 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