[Expired] [MA, NY, RI & CT] Webster Bank $300 Checking Bonus - Direct Deposit Not Required

This bonus has now ended, view more checking bonuses by clicking here

Update 12/8/19: Deal available again. Hat tip to reader Joe F

Offer at a glance

Maximum bonus amount: $300
Availability: Offer available only to residents located in MA, NY, RI and Ridgefield, Wilton, Danbury, Stamford, Darien, Norwalk, and Greenwich, CT
Direct deposit required: Optional
Additional requirements: Yes, see below
Hard/soft pull: S oft
Credit card funding: None
Monthly fees: $21.95
Early account termination fee: $15 if closed within 90 days
Household limit: None listed
Expiration date: ~~March 31st, 2019~~ December 31st, 2019

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Webster Premier Checking $21.95 Monthly Fee
- 3.2 Early Account Termination Fee $15
4 Our Verdict

The Offer

Direct link to offer

Webster Bank is offering a bonus of $300 when you open a new Premier Checking account and complete the following requirements:
- Have a direct deposit of $500 or more between the month the account has opened and 05/31/2020 OR
- Have an average account balance greater than or equal to $10,000 for the calendar month ending 05/31/2020

The Fine Print

Promotion valid for new checking accounts opened between 12/01/2019 and 12/31/2019 at the Webster Banking Centers located in Ridgefield, Wilton, Danbury, Stamford, Darien, Norwalk, and Greenwich, CT and Larchmont, Scarsdale, Yonkers, Rye, White Plains, and New Rochelle, NY and meeting minimum opening balance requirements.
Customer must qualify for account and have a direct deposit of $500 or more (Direct Deposit transactions are limited to payroll, social security, pension, and government benefits. PayPal® transactions are excluded) between the month the account was opened and 05/31/2020. OR
Customer must have an average account balance greater than or equal to $10,000 for the calendar month ending 05/31/2020.
To be eligible, the primary customer must qualify for Premier Checking and must not have had an open checking account since 11/01/2018 at Webster Bank.
Account must be in good standing at the time of payment; an account is considered to be in good standing if it has a positive balance and is not in the process of being closed.
All funds will be transferred into the newly established checking account by 07/16/2020.
All amounts will be reported to the IRS, and customer is responsible for any applicable taxes.
Customer must be a resident of NY, MA, RI, or CT at time of account opening and promotion payout.
Please speak to a Webster banker for details. Rates shown for any product or tier are subject to change at any time. Cannot be combined with any other Webster Bank cash incentive offer.

Avoiding Fees

Webster Premier Checking $21.95 Monthly Fee

This account has a $21.95 monthly fee, this is waived if you meet any of the following requirements during your monthly statement cycle:

By keeping $20,000 in combined average checking, money market, and savings balances during your monthly statement period
By keeping $50,000 adding CD, home equity, and installment loan balances as of the end of your statement period

Early Account Termination Fee $15

If account is closed within 90 days a $15 fee is charged.

Our Verdict

There is a targeted offer for $350 with the same requirements, people will obviously prefer that offer if targeted. This offer is nice as it’s publicly available and it’s possible to get the bonus without a direct deposit requirement. I do think this bonus is worth doing if you live in the targeted area and because of that I will add it to our best checking sign up bonuses page.

Hat tip to reader Y B

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