Deal has ended, view more bank account bonuses by clicking here.
Update 9/23/23: Deal is back and valid until 10/23/23.
Update 5/5/23: Deal is back and there is a $600 tier as well. Hat tip to Peek
Update 9/11/22: Bonus is back and now $350 instead of $300. Hat tip to fearthez
Offer at a glance
- Maximum bonus amount:Â $350
- Availability:Â MA, NH, ME or RI
- Direct deposit required:Â Yes, $4,000+
- Additional requirements:Â See below
- Hard/soft pull:Â Soft
- ChexSystems: Yes, sensitive
- Credit card funding:Â No longer available
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â One
- Expiration date:Â
May 17, 2021June 5, 2023
Contents
The Offer
- Eastern Bank is offering a bonus of $300 (two direct deposits required)
- Cumulative direct deposits of $1,000-$3,999.99: $200 bonus
- Cumulative direct deposits of $4,000 – $14,999 : $350 bonus
- Cumulative direct deposits of $15,000+: $600 bonus
The Fine Print
- This offer is valid for new consumer checking account customers only.
- New customers are primary signers who have not had a consumer checking account since 04/10/2020.
- The account must also meet the following requirements 90 calendar days after the account open date to receive an incentive (if the 90th calendar day falls on a non-business day, the requirements must be met on the following business day): (a) Primary signer must reside in MA, NH, ME or RI; (b) Primary signer must be age 18 or older; (c)
- Account must be open and have a positive balance. Incentives for qualified accounts will be deposited into customer’s account no later than 30 calendar days after confirmation that the account has met all the requirements.
- No incentive will be paid if the account is closed on the date we attempt the deposit.
- The Bank may, at its discretion, pay the incentive earlier if all the qualifying requirements have been met.
- Only one incentive per customer and one incentive per household as defined by a common address.
- Customer will receive a 1099 form for this incentive.
- Please consult your tax advisor regarding the tax implications of this offer.
- Other qualifications and restrictions may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
There is no early account termination fee
Our Verdict
We have seen a bonus of $350 with smaller requirements in the past. That hasn’t been available for some time, so I’d recommend doing this offer now if you’re eligible. I’ll add this to our list of the best bank account bonuses.
Hat tip to reader Lisa
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
Did anyone get 1099 already?
How did people close this account?
I sent a secure message to close and next day got an email notification that I have a new message but I cannot see it because they disabled my online login.
10/5: opened
10/5-12/21: cumulative $4,000+ in real DD’s
12/18: Fidelity CMA $11,000 push
1/23: only $350 bonus received
Seems like the Fidelity CMA push did NOT count as a DD because I didn’t receive the $600 bonus
Has anyone had this paid out? I’m beyond the 90 days to qualify + 30 calendar days for bonus to post. Wondering if my DD method didn’t work or if they are just slow
You may wanna call the bank. My situation was similar. I called the bank to follow up on the status, and they paid the sign-up bonus within 2 wks.
Currently doing the Cambridge Trust bonus. They should be fully merged with and into Eastern Bank by Q2 next year. I feel that this will be a backdoor to finally getting around being denied because of Chex and doing eventually the Eastern Bank checking bonus, perhaps by keeping a savings account or another customer relationship open except a checking account.
Anyone know whether the household limit applies if P1 got this bonus earlier this year during a different “period” of this promo? Can P2 get it now?
Any idea how sensitive they are to the household limit? Thinking of applying for P2
It was problematic for my P2 several years ago ~2019. Not worth the hassle, I think. They did end up giving her the bonus because she applied in-branch and I believe it was with the manager, so he manually pushed it through. That being said, I think he was doing us a favor and wouldn’t have been surprised if he denied it.
Are these guys still chex sensitive? I think I tried to sign up for an account several years ago and they denied me due to chex
Very much. I’ve been denied for a few years, and won’t bother trying again.
William Charles Chuck This deal is reopened and active through 10/23/23. Same link. Options for $600, $350, $200 bonus. However I’m not eligible since I didn’t close my account until late 2022.
Sadly the online bank chat support says although i met the $15k DD requirement i overdrew the account and am not eligible for the $600 bonus. Somehow a recurring scheduled transfer out of my eastern account tried to go through on the same day my DD hit and was still “pending”. The system tried to execute the transfer and briefly overdrew the account by -$800 before it failed to execute and the money went right back into the account. I honestly can’t believe the system really tried to execute the transfer, but also that it couldn’t complete it considering the account was positive later that day when the DD posted. Maybe going in branch the manager can override and give me the bonus?