Posted by William Charles on June 6, 2019
Bank Account Bonuses

Published on June 6th, 2019 | by William Charles

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[Expired] [MA, NH, ME, RI] Eastern Bank $350 Checking Bonus

Deal has expired, view more bank account bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $350
  • Availability: Must reside in MA, NH, ME or RI
  • Direct deposit required: Direct deposit of $250 – $1,000+ required
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Yes, sensitive
  • Credit card funding: No longer available
  • Monthly fees: None
  • Early account termination fee: None, bonus will post by 10/16/2019
  • Household limit: One
  • Expiration date: July 8th, 2019

The Offer

Direct link to offer

  • Eastern Bank is offering a bonus of $350 when you open a new checking account. The bonus you receive will depend on the direct deposit received:
    • For direct deposits of $250-$999.99, the incentive will be: $200
    • For direct deposits of $1,000 or more, the incentive will be: $350

The Fine Print

  • A minimum of $25 is required to open Eastern Free Checking, $50 to open Eastern eZ Checking, or $500 to open Eastern Premier Checking.
  • To qualify for the incentive, you must open an Eastern personal checking account between 06/01/2019 and 07/08/2019 and have a recurring payroll, pension, or government direct deposit in the amount noted below post to your new checking account no later than October 8, 2019.
  • Electronic credits other than payroll, pension or government benefits, such as person-to-person payments, transfers between your accounts at Eastern Bank and other institutions or brokerages, and payments through third parties such as Paypal or eBay do not qualify as a “direct deposit”. Incentive amount will vary. See the table below for details.
  • The amount of the incentive paid will be based on the largest direct deposit posted to your account by October 8, 2019.
    • For direct deposits of $250-$999.99, the incentive will be: $200
    • For direct deposits of $1,000 or more, the incentive will be: $350
  • 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 06/01/2018.
  • The account must also meet the following requirements on 10/08/2019 to receive an incentive: (a) Customer must reside in MA, NH, ME or RI. (b) Customer 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 10/16/2019.
  • 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 than 10/16/19 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.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

There is no early account termination fee, but keep in mind the bonus won’t post until 10/16/2019.

Our Verdict

Previous best bonus was $200, so this is significantly better than that. Only downside is that previously you could fund up to $2,000 with a credit card and that’s no longer available but obviously that won’t be coming back so I’d jump on this offer. I’ll be adding this to our list of the best checking bonuses.

Useful posts regarding bank bonuses:



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Sa
Sa

Chexsystems sensitive y’all

Joey
Joey

Very sensitive y’all

Sean X
Sean X

Wicked pissah.

Johnk
Johnk

No kidding. Had P2 try with just a Santander bonus recently and she was rejected.

Brian
Brian

Hmm gonna hard pass then, probably destined to be denied.

DD
DD

Thanks, i just signed up. Do you interpret the requirement to be to have a *recurring* direct deposit with one deposit being at least $1000 for the $350? I wonder if i have to have recurring DDs all the way into October…

FWERFTW
FWERFTW

From the disclosure, “The amount of the incentive paid will be based on the largest direct deposit posted to your account by October 8, 2019”.

Peek

Such a nice big bonus and yet, denied again. My last denial was in Sept of 2018, why do they hate me so?

The Man
The Man

Cause they don’t like giving free money away 🙂

The Man
The Man

Not even going to try.

Dennis the menace
Dennis the menace

Haha good luck. P2 just denied and only has 1 other account this year.

binaryinfo
binaryinfo

I was denied by them last September. Not going to try.

Joe
Joe

Have 8 in the past 12 months. Is that too many?

Joe
Joe

Update: approved

L T
L T

For those denied, was that online or in branch? Have some branches nearby, might just go in person along with P2.

Peek

L T I applied online but then had to mail in a paper form. Once they got the form I was denied.

Peek

oops wrong bank. I thought I was replying to the watertown savings thread. For this bank I was denied online. I am now getting reminders to finish my application :/

L T
L T

Wanted to update in re: this. Had no issues applying in person for myself and SO also did the same. Bank was very much heavily advertising the promo in the branch. Rep that assisted us seemed to infer that their back end would monitor the DDs, so will do real (i.e. employer-based ones) for this deal, scaling back after the first 1k deposit to a lower amount but still employer-based to ensure no issues.

McSwiggins
McSwiggins

Well I rarely get the opportunity for ‘local’ offers being in Maine but I jumped on this. Not many data points on what counts for direct deposit for this bank. Their requirements are pretty specific but in reality are they all that tough? I guess I will find out. I guess I can run some work reimbursements through it and see what shakes out.

McSwiggins
McSwiggins

My $350 bonus posted today. Concur direct deposit counted for the max bonus.

JS
JS

Their website is a steaming pile of garbage. I can’t believe that anyone managed to get through the application process without errors.

Ukenburger
Ukenburger

Another datapoint of Chexsystems sensitive.
Tried to apply online. Denied due to Chexsystems.
Tried to apply in-person with one of their mailers for leverage. Denied due to Chexsystems and was told to call Chexsystems about why I was denied.

EB
EB

Anyone knows what counts as DD for this bank? The Megapost does not have any data points.

Jon H.

Website took two weeks to go beyond the login page. Denied Chex @ 5 accounts in 6 months, 2 in 60 days.

NH4NO3
NH4NO3

Denial. 7/12 mo., 6/6 mo., 0/2 mo.

Dan
Dan

Second direct deposit on 7/29, $350 bonus on 8/5

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