Deal has ended, view more bank account bonuses by clicking here.
Update 7/20/24: Deal is back and valid until 8/31/24.
Offer at a glance
- Maximum bonus amount: $250
- Availability: MA only
- Direct deposit required: Yes, $1,000+
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: August 31, 2024
Contents
The Offer
- Watertown Savings Bank is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Receive at least two direct deposits totaling at least $1,000 or more within 45 days of account opening
The Fine Print
- Offer available to new Watertown Savings Bank (“WSB”) Customers or current WSB customers who do not have a checking account on or before June 1, 2024. Requirements:
- (1) Open any new WSB checking account, subject to Bank approval. Minimum deposit at account opening is $10. To open an account, visit a WSB branch location or submit an online application and mention/put in promo code Checking at the time of account opening.
- (2) Receive at least two direct deposits totaling at least $1,000 or more within 45 days of account opening.
- (3) Maintain an active account. A checking account is “Active” if not dormant. A dormant account is a checking account showing no activity other than posting interest for a period of greater than 90 days. Maintain an active account by using the WSB debit card and enrolling in WSB Online and/or the WSB Mobile Banking app.
- The $250 reward will be deposited to your new WSB Checking account within 6 weeks of satisfying the foregoing requirements. Any taxes due related to this Offer are the responsibility of the recipient. Offer valid until August 31, 2024. Not valid if combined with other offers. Offer subject to change without notice.
- 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
There have been bigger bonuses in the past but they are no longer available. Unfortunately seems to be ChexSystems sensitive.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
View Comments (35)
A note on account closure: it's a pain in the rear. You must go to a branch or send them a letter requesting account closure.
I've opted to send a letter (from Canada as I'm spending extended time abroad). I will let you folks know how that goes.
Yep, I found that too, can't close over the phone or chat.
Confirmed, can't close over chat, they said in person or physical letter
Had to chat with a rep via the bank website after bonus didn't post in Oct or Nov after meeting requirements October. Chatted with rep on 11/21, bonus was in account on 11/22
DP:
Looks to be pretty easy to complete if you're in footprint. There are a few different offers out there, I got into during version 2 terms, which required 3DDs of $1.5k combined.
07/24 - Opened Account
08/05 - $505 Chase Biz ACH
09/09 - $505 Chase Biz ACH
10/09 - $505 Chase Biz ACH
11/15 - $250 New Acct Bonus
Just got a denial due to not living in a town with a branch. I don’t recall seeing that as a requirement. Anyone else run into this issue with them?
7/20: Applied with terms here
7/24: Approved
8/1: Online banking enrolled, debit card activated
8/15 - 10/31: Did 6 real biweekly DDs of $301 each ($1806 total)
10/31: $250 bonus posted
$250 SUB posted 10/31. Account was opened in July with the version2 terms and conditions ("Receive direct deposits for at least three consecutive months from account opening, totaling at least $1,500 or more."). $1.5k+ real DD in Aug, Sept, Oct.
Anyone apply on or after 7/27 and got their bonus yet?
Another data point:
Account Opened 7/3/24
Direct deposit from payroll done on 7/15 & 7/31
$250 bonus posted on 8/31
Another no chex DP. Opened the account with chex frozen.
Payout DP:
6/21 - account opened
7/5 - 500+ push from Novo (coded as PDD)
7/5 - 500+ push from Amex Biz (coded as TRANSFER CCD)
8/2 - another round of 500+ deposits from Novo and Schwab (coded as PDD)
8/21 - 250 bonus received
I opened under the 2 deposits totaling 1k within 45 days terms, but was prepared to send deposits for 3 consecutive months from the updated terms just in case.
One note: I do NOT see a Chex inquiry on my report, so maybe something's changed with this CU or I got lucky.
No Chex pull in my case either. Singed up under the updated terms and need a couple of more DDs.