Posted by William Charles on January 27, 2019
Bank Account Bonuses

Published on January 27th, 2019 | by William Charles

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[Expired] [MA only] Washington Savings Bank $300 Checking Bonus

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

Update 1/27/19: Reposting as it’s been confirmed as a soft pull.

Offer at a glance

The Offer

Direct link to offer

  • Washington Savings Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
    • Receive qualifying direct deposits totaling $4,000 or more within 90 days

The Fine Print

  • Get $300 Offer is intended for new qualifying direct deposits on a new or existing Cash Rewards Checking or Interest Rewards Checking account.
  • A qualifying direct deposit is a new recurring direct deposit of a paycheck, pension, Social Security, or other eligible regular monthly income electronically deposited by an employer or outside agency.
  • Direct deposits via ATM, online, teller deposits, P2P services like Paypal® or a transfer from a bank or brokerage account do not qualify.
  • Customer will receive a $300 deposit into their account within 30 days from redeeming a “$300 Claim Form”and verification of eligibility.
  • Offer expires June 30, 2019.
  • Washington Savings Bank may change or discontinue this offer at any time before this date without notice.
  • ne $300 offer per customer, per household, per account. A
  • ll services must be activated after 12/01/2018.
  • Offers can not be combined. Member FDIC. Member DIF. All deposits insured in full.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Cash rewards checking account has no monthly fees to worry about.

Early Account Termination Fee

Our Verdict

Pretty good bonus, given that it is a soft pull I do think it’s worth doing if you live in the eligible area. Because of that I’ll be adding this to the best checking bonuses.  If anybody decides to go for this bonus then please share your experiences in the comments below.

Useful posts regarding bank bonuses:



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BL
BL

Does anyone know if it is branch only or possible opening online?

Peek
Peek

It seems to be branch only. I’m planning to try next weekend because it’s the earliest I can get to a branch when it’s open.

SkayDk
SkayDk

You definitely can open in branch, but on a flyers about this promotion which they have in branch it is stated “apply online at ”
I guess only requirement is to send or bring them filled out from to claim the bonus when you meet the requirements (https://www.washingtonsavings.com/documents/$300%20Claim%20Form.pdf)

They also have other small bonuses for new accounts, see my comment below

Peek
Peek

I successfully opened this morning at the Lowell branch. Banker was very nice and did pull Chex but was only looking for derogatory marks as the other poster had stated. I have opened about 17 accounts in the last year.
Only hitch with opening was in my case I had to produce proof of address since my license still had an old address on it, I was able to pull up a utility bill on my phone. Banker only had to see and it didn’t take a copy of it. I have run into this same thing with opening online accounts so I wasn’t surprised. I was provided a prepaid envelope to send back my required form to claim the 300 bonus since I’m about 30 minute drive from the branch. This does seem to be a soft pull, I didn’t get any Credit Karma notifications anyway. Seems like an easy bonus other than having to go to the branch.

SkayDk
SkayDk

applied in branch.
they pull chex. not sensitive, though lady raised a brow at my lol amount of accounts (not so much actually).
Initial deposit only in cash (min $10)
They also has following bonuses for new accounts (info in welcome packet):
$5 for 5 debit transactions in 30 days
$5 for DD in 30 days
$5 for 3 online bill pays in 30 days
$50 for referral with $500 direct deposit

you have to give or mail them forms after completing these requirements (similarly to this promotion)

frugalman
frugalman

Thanks to SkayDk and Peek. I also live in MA and just called the Lowell Branch. I was told that I can open online and mail the form to them. So it saves me some time there. The representative does mention you have to be a MA resident. For the small bonus SkyadDk mentioned, which are not available online, the representative thinks you may receive those documents in the welcome package that is going to mail you once approved.

Update: I am in my online application process. In the online form, I notice it actually says, “Must be a resident of Massachusetts or New Hampshire to apply. Must be at least 18 to apply.”. So maybe it is also open to NH? You had better call first if you live in NH and want to apply

Update 2: Finished my submission now. Didn’t apply many checking accounts in the past, so I should be approved. Notice I actually can fund the checking with a credit card though the cap maximum is only $50. The result is pending and I was told a representative will reach me in 1 business day.

Thanks to all!

Peek
Peek

I never found an online link to apply. Is there a public link? Don’t forget the other $15 in bonus you’ll get if you do BillPay and debit transactions in addition to the direct deposit within 30 days. This was a second form in the packet when I went to the branch (mentioned first by SkayDk). I was going to just mail both forms in at once.

frugalman
frugalman

Peeks, thanks for the info. The link is obvious. Just click to the “compare account” button on the DOC’s linked webpage, which open this page: https://www.washingtonsavings.com/personal/rewards-card-checking/comparison-table.html. Scroll down at the bottom of the table, where you see “Apply Now”. Go from there.

Peek
Peek

So it is, I somehow missed that. Thanks.

Gaurav
Gaurav

I see language (maybe new) that says “Please note: We only open a Cash Rewards Checking or Interest Rewards Checking for customers that either live or work in the contiguous areas around the Bank’s branches in Dracut and Lowell MA.”

Pablo
Pablo

Hello,

Just curious where did you saw that tidbit of information?

Thanks!

Regan
Regan

I live in western MA and applied yesterday online. Looked all good but got an email today denying the application: “Unfortunately we have to deny your application because we only open accounts for customer in the market areas north of Boston, MA, NH, and ME. Please note, this application denial is not reported to any 3rd parties. Please consider us in the future if your ever move to or work in our service area.”

Pablo
Pablo

Interesting… so they don’t allow residents of Western Mass to apply? That stinks 🙁

Emily
Emily

It’s hard to figure out exactly where in MA you have to live but a DP below says it must be North of Boston so that is a major caveat

Peek
Peek

Applied / Approved: 01/19/2019
DD on: 2/8/2019
Form Mailed: 2/11/2019
Bonus Paid: 4/19/2019

Terms said they would pay out within 30 days for the form being submitted but it did take a little longer than that. Good experience opening the account.

Em
Em

Mailed in my forms, got the $5 bonuses within a day, but still waiting on the $300 sign up bonus, terms say 30days, so i’ll wait it out. Found an interesting feature though – I signed up for the cash rewards checking (instead of interest rewards checking) and they pay you 7c for each time you use your debit card as a signature purchase, and that includes amazon reloads. I used amazon reloads to trigger the $5 for using 5x debit cards within 30 days and got 35c back. Doesn’t scale, but might do small 50c amazon reloads whenever i’m free!

DT
DT

“Unfortunately we have to deny your application because we only open accounts for customers within 25 miles of market areas north of Boston, MA, NH, and ME.”

NH4NO3
NH4NO3

Thanks for considering Washington Savings Bank!

Please note: We only open a Cash Rewards Checking or Interest Rewards Checking for customers that live or work in the following areas.
* MA – Andover, Billerica, Dunstable, Dracut, Chelmsford, Lawrence, Lowell, Methuen, Tewksbury, Tyngsborough, and Westford.
* NH – Hudson, Nashua, Pelham, Salem

R
R

Must have been a recent change, applied in late feb and approved without working/living in the cities you listed

tsaus5
tsaus5

I realize this has expired, but here’s a successful DP for posterity:

4/23: Applied for account. I am out of state but used an address in one of the listed cities to apply. (Someone at the address sent me the debit card info.)
4/23-24: Corresponded via email with a banker who asked me in succession about:
1. Whether I authorized all my chex inquiries;
2. A lender and loan amount/monthly payment. I provided a credit card and current balance
3. Why my IP address shows that I’m out of state, and why my credit report shows a recent address that is out of state (they tracked my IP address?!?)

4/24: Account was opened/approved.
7/1: Met the $4k DD requirement using payroll DD. (It was spread over three months due to pursuing other bonuses as well.)
7/8: Mailed the $300 bonus claim form and the four $5 bonus claim forms that SkayDk wrote about earlier.
7/11: The full $320 was deposited into my account, and I got an email notifying me as much, as well. Nice that they’re quick.

Ukenburger
Ukenburger

No go using Fidelity. Got an email to the following effect:

Thank you for your business and submitting the $300 Direct Deposit Cash Bonus Claim form.
Unfortunately, the FID BKG SVC LLC MONEYLINE PPD deposits are not a qualifying deposits.

Cashb
Cashb

FYI, I received an email from their security and fraud division saying that I was pulling money out of the account via ACH too soon after getting the direct deposit (legit employer) and that if it continued then they would shut the account down. So either leave the money in or use it as your primary account while doing this one.

tsaus5
tsaus5

Strange, I did the same as you but didn’t hear anything about it. Sorry to hear that you’re encountering this obstacle.

@Chase-ing UR points
@Chase-ing UR points

Negative DD data point:

State and Federal tax refunds don’t count as direct deposits. I reached out to the bank prior to opening the account and was told both would count towards the $4,000. I had emailed in the form and after not receiving the bonus within 30 days reached out and was told I didn’t meet the requirements. They refused to do anything and only apologized for giving me incorrect information

Cashb
Cashb

Sent in the form after the final DD (real) and was told via email that the bonus would post after the full 90 day period was up. Bonus posted on day 92

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