Posted by William Charles on November 23, 2019
Bank Account Bonuses

Published on November 23rd, 2019 | by William Charles

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[MA only] Cambridge Savings Bank $200 Business Checking Bonus

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Can only open accounts in branch. All branches are in MA. [Branch locations]
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee:
  • Household limit: Limit one per business entity
  • Expiration date: December 2nd, 2019

The Offer

Direct link to offer

  • Cambridge Savings Bank is offering a bonus of $200 when you open a business checking account and complete the following requirements within each of the first three full calendar months following the date the new account is funded
    • Complete posted and cleared credit transactions including cash, check, wire or ACH credits totaling $500 or more
    • Complete 10 posted and cleared debit transactions including checks paid, debit transactions, wire transfers, or ACH debits

The Fine Print

  • Earn a $200 bonus when you open a new Small Business Checking or Analyzed Business Checking account with a $10 minimum account opening deposit between 11/18/19 and 12/2/19 and complete the following requirements within each of the first three full calendar months following the date the new account is funded: (1) Complete posted and cleared credit transactions including cash, check, wire or ACH credits totaling $500 or more. Bank transfers between your Cambridge Savings Bank accounts or accounts you have at other financial institutions do not qualify. (2) Complete 10 posted and cleared debit transactions including checks paid, debit transactions, wire transfers, or ACH debits.
  • For example, a qualifying account type opened and funded during the month of November must complete the requirements in the months of December, January, and February in order to qualify for the bonus.
  • Business entity must be located in Massachusetts.
  • New account funding must be completed by 12/2/19.
  • You must not currently have a Cambridge Savings Bank business checking account or have had one in the last 12 months.
  • A $200 credit will be made to your checking account within 30 days of completing requirements as long as qualifications are met and account remains open in good standing.
  • No minimum balance is required to receive the bonus. The value of the bonus will be reported to the IRS as interest.
  • Limit one bonus per business entity.
  • Offer may be withdrawn at any time.
  • All other rules and regulations for checking accounts apply.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Small business checking account has no monthly fees to worry about

Early Account Termination Fee

I wasn’t able to find any mention of any early account termination fee in the fee schedule.

Our Verdict

They offered a $300 bonus in 2017. Seems like these business bonuses are fairly uncommon so if you’re eligible I’d probably just go for this bonus. Not the best offer out there, but still worth doing.

Hat tip to reader Joshua

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