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

Published on April 6th, 2019 | by William Charles

19

[MA only] Watertown Savings Bank $200 Referral Bonus (Both Referrer & Referee Get $200)

Offer at a glance

  • Maximum bonus amount: $200 for both parties
  • Availability: MA only
  • Direct deposit required: Yes, $1,000 minimum specified
  • Additional requirements:
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: June 29th, 2019

The Offer

Direct link to offer (scroll to bottom)

  • Watertown Savings Bank is offering a referral bonus of $200 (both the person referring and person being referred can receive up to $200 each). Bonus is broken down as follows:
    • Receive the first $100 bonus when you’re referred be a current customer and you open any new WSB checking account with eStatements. Referral must also set up a recurring direct deposit of payroll and receive direct deposits totaling at least $1,000 or more within 60 das of account opening
    • To receive the second $100 bonus the referral must use their debit card at least six times during the first 60 days of account opening, set up bill pay and add at least one recurring bill to the account and make at least 1 payment within 60 days of account opening

The Fine Print

  • To qualify for the FIRST $100 bonus each, the following two steps must be taken: 1. The person you refer (“referral”) needs to be a new Watertown Savings Bank (WSB) customer and open any new WSB checking account with eStatements, which is subject to approval. Minimum account deposit is $10. To open an account the referral should visit watertownsavings.com and use code: FRIEND or visit a WSB branch location and mention code “FRIEND” at the time of account opening.The referral must set up a recurring direct deposit of payroll and receive direct deposits totaling at least $1,000 or more within 60 days of account opening. The first $100 bonus will be deposited to your WSB account and the referral’s new WSB checking account within 4-6 weeks after requirements have been met. Not valid if combined with other offers.
  • To qualify for the SECOND $100 bonus each, the following two steps must be taken: 1. The referral must use their debit card at least six times during the first 60 days of account opening. 2. The referral must setup Bill Pay, add at least 1 recurring bill to the account, and make at least 1 payment through Bill Pay within 60 days of account opening. The second $100 bonus will be deposited to your WSB account and the referral’s new WSB checking account within 4-6 weeks after requirements have been met. Not valid if combined with other offers. Offer valid until June 29, 2019. Offer subject to change without notice. Any taxes due on this gift are the responsibility of the recipient.
  • The Refer a Friend program discloses that each party has an account at Watertown Savings Bank. To participate both parties agree to waive their rights to privacy in that regard. By submitting this sign up form, you give permission to the bank, in the context of the Refer a Friend program, to make it known to each other that you have an account at Watertown Savings Bank and completed the requirements to receive the bonus described above.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The WSB free checking account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

We’ve seen Watertown Savings bank offering a $100 checking bonus, this $200 bonus for both parties is significantly better especially if you’re being referred by somebody you know and they will split some of their $200 with you. We still need to know if it’s a hard or soft pull in the comments. Feel free to share your referral information in the comments but please provide some additional information as well such as if it’s a hard/soft pull to open.

Useful posts regarding bank bonuses:



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Sa
Sa

Ok. Who is ready to send me an invitation?

SN2
SN2

According to the referral form I need these info to in order to send:
first name, last name, email, and phone number.

Please send your info to: churner@digital-email.com

I will refer you right away and so you should expect email (or call) from the bank.

Thanks!

SN2
SN2

I just opened a Watertown free checking account and I was basically approved (just need to send their form with my signature via snail mail).

Does anyone want an referral invitation?

PS: CC funding up to $15 with Visa, Mastercard, and Discover.
Not Chex sensitive (I’m 15/12) and seems to be soft pull from all credit bureaus (received no inquiry alerts).

s
s

yes please ill give it a go

SN2
SN2

According to the referral form I need these info to in order to send:
first name, last name, email, and phone number.

Please send your info to: churner@digital-email.com

I will refer you right away and so you should expect email (or call) from the bank.

Thanks!

Sourav
Sourav

Yes, please! mailid: souravsarkarma@gmail.com

SN2
SN2

According to the referral form I need these info to in order to send:
first name, last name, email, and phone number.

Please send your info to: churner@digital-email.com

I will refer you right away and so you should expect email (or call) from the bank.

Thanks!

Dan
Dan

Were you still successful opening your account after the paper form was processed or did they deny for the 15/12 Chex?

Some ppl are saying they received instant approval online but rejected after they mailed in the form.

Abg177
Abg177

At the end of the application process, you are given a PDF application to print, sign, and mail. The application is not processed until the bank receives the hard copy in the mail.

At least with the free checking account, credit card funding caps out at $15 (!). I see the pending charge which looks like a purchase, but won’t know for sure until it posts.

I’ll update with more info as the application progresses.

Bonbank
Bonbank

Would like to give it a shot on Tuesday. Would anyone like to provide a referral?

SN2
SN2

Please send your info to: churner@digital-email.com and I’ll send an invite.

According to the referral form, I need the following info in order to refer:
first name, last name, email, and phone number

Thanks!

Rob H
Rob H

I’ll give this one a shot, as well, if anyone wants to provide an invitation. Will post on DPs with my results.

SN2
SN2

Please send your info to: churner@digital-email.com and I’ll send an invite.

According to the referral form I need these info to in order to send:
first name, last name, email, and phone number.

Thanks!

SN2
SN2

Invite sent!

After submission, it said:

“We appreciate you reaching out to Watertown Savings Bank. We will contact you back within one business day.”

Although, not sure whether it means you or me.

SoS133
SoS133

If anyone wants to share the love I can hook you up with a referral. Send first name, last name, phone number and email to soundofsilence133@gmail.com and I can get it for you. Thanks!

Jeffrey
Jeffrey

when I applied online, there’s no place to put the referrer information. How can the referrer get the bonus?

SoS133
SoS133

The referrer gives both their own email and the email of the person they are referring. If you use the code FRIEND when applying they must check to see who submitted your referral.

Abg177
Abg177

They are Chex sensitive, at least for higher inquiry numbers (23/12). While it appeared like I was initially approved pending receipt of mailed paperwork, I just received a denial letter in the mail with a refund of the initial deposit.

Z
Z

Looks like a $300 offer has popped up, for anyone that hasn’t done the referral one yet https://www.watertownsavings.com/offer

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