[MA & NH only] Stoneham Bank $300 Checking Bonus

Update 4/27/24: New link added for $300 bonus. Says it’s for billerica branch but can be opened online.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: MA & NH
  • Direct deposit required: Yes, $1,000+ per month for three months
  • Additional requirements: Enroll in online banking
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $10, avoidable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Stoneham Bank is offering a bonus of $250 when you open a new Optimum Plus or Optimum One checking account and complete the following months within each of the first full three calendar months:
    • Receive a monthly direct deposit(s) totaling $500 or more
    • Enroll in Online Banking

The Fine Print

  • Earn a $250 bonus when you open a new Optimum Plus or Optimum One Checking account with a $10 minimum opening deposit balance and complete the following requirements within each of the first full three calendar months following the date the new account is funded: (1) Receive a monthly direct deposit(s) totaling $1,000 or more and; (2) Enroll in Online Banking.
  • For example, a qualifying account type opened and funded during the month of September must complete the requirements in the months October, November and December in order to qualify for the bonus.
  • Examples of qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits from your employer or the government.
  • You must not currently have a StonehamBank personal checking account or have had one in the last 24 months.
  • A $250 bonus will be deposited into your new account within 30 days of completing requirements if qualification conditions are met, and the account remains in good standing.
  • The primary account holder is solely responsible for any federal, state and local taxes, and must provide StonehamBank with a valid social security number or taxpayer identification number before the bonus will be provided.
  • A form 1099-MISC will be issued to the primary account holder. This offer may be withdrawn at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Optium One is the easiest of the two accounts to keep fee free. It has a $10 monthly fee, this is waived if you do any of the following: Maintain a monthly direct deposit of $500 or; Maintain an average daily balance of $1500 or; Use your debit card 5 times per month for point of sale transactions.

Early Account Termination Fee

I wasn’t able to find any early account termination fee though in their fee schedule.

Our Verdict

Previously we’ve seen $200 & $250 bonuses. This is a good bonus and worth doing if you live in an eligible area. We will add this to our list of the best checking bonuses.

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    William Charles
  • On April 27, 2024, 13:00
Tags: direct deposit requiredma bank bonusesnh bank bonusesno credit card fundingsoft pull

View Comments (61)

  • Opened 2/18/25

    $600+ Chase Biz DD 5/8/25

    $300 "Bonus Payment" received 5/19/25

  • Opened 1/28/25

    Bonus Received 5/5/2025

    Used a combination of Real DD's <500, and fake Chase Buiz pushes >500, unsure what actually triggered the bonus

  • Approved in MA. My Chex numbers:  
    1/1 (a week prior)
     3/3
     10/6
     12/12
     22/24
     31 total

    The app was pretty barebones, and had biometric verification with selfie through Socure. Like to other users, they also called me a few days after applying, and said the account was all set to approve; they just needed a video banking session and for me to take a picture of my ID again on camera, give my mother's maiden name and set up a security question. At the end I asked if I planned on setting up direct deposit, no further questions. Didn't get the account opening email with the link to complete funding for a few days, and you get the account number in that link.

    Here is what I think the generic URL is for that link: https://eopen.myvirtualbranch.com/1631/Application/%5Bapplication number]. It's the application dashboard.

  • Does anyone know if you only need one >$500 DD within 90 days or one >$500 DD every month for 90 days? The terms are a little unclear.

    • What they *want* you to do is set it up within 90 days and keep it there indefinitely. As for the letter of these terms, personally if approved I’m doing at least 2, around the same time each month with at least the first within the 90 day period

  • Can confirm no CC funding for me either. Approved with Chex 0/1, 2/2, 3/3, 7/6, 24/12, 33/24.

  • No cc funding as of 6/17/24.

    Denied due to Chex. Inquiries per month at time of app: 1/1, 1/2, 3/3,8/6, 22/12, 52/24

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