Posted by William Charles on May 26, 2019
Bank Account Bonuses

Published on May 26th, 2019 | by William Charles


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

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

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: MA only
  • Direct deposit required: Yes, $1,000 minimum specified
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown, sensitive
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: June 29th, 2019

The Offer

Direct link to offer

  • Watertown Savings Bank is offering a bonus of $300 when you open a new checking account. Bonus is broken down as follows:
    • First $150 bonus:
      • Open any new checking with eStatements
      • 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
    • Second $150 bonus:
      • Use your WSB debit card at least six times within 60 days of account opening
      • Set up Bill Pay by enrolling in online banking and making at least 1 payment through Bill Pay within 60 days of account opening

The Fine Print

  • Bonus will post within 4-6 weeks of requirements being met
  • 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

They also offer a $200/$200 referral bonus, that’s a better deal if the person referring you will give you their $200 (e.g if it’s your spouse). Otherwise this is a better deal, requirements are the same. We need to know if it’s a hard or soft pull to open the account still.

Hat tip to reader Z

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Note that an MA zipcode must be entered before you can proceed with the application. It’s odd that applicant is asked to click and agree with account disclosures and agreements to proceed to next page where personal info is entered.

FYI, for out-of-state applicants who may try and see if there’s a work-around similar to m&t, know that whatever zipcode you entered is pre-filled and cannot be replaced with a different zipcode.


Wow a bank that still uses ColdFusion for their application. Nothing like a 20 year old language to instill confidence. Ah well, process was easy anyway.

The Man
The Man

Funding limit?


If I remember correctly it was a max of $15, I just did $10.


Opened this account a few days ago and haven’t yet gotten any alerts from Credit Karma or Creditwise that this was a hard pull so I’d assume it’s not. They assigned me an account number but said my account wouldn’t be out of pending status until they received a paper application which I sent in early this week. Today I was able to use the account number to setup online access and they required some security questions some of which were really difficult because I’d owned two of the same model of car and it seemed they had crossed up the colors and years of the two of them (not a great process). I restarted the registration process and got questions I could answer the second time around. The account is open but for some reason the opening deposit of $10 dollars isn’t showing up. I’ll be waiting to setup DD until I hear back from the bank.


Chex sensitive. Nothing specified, but I opened a few other checking accounts recently.


I am at around 20 accounts opened for the last 24 months and I at least was told my account was opened and given an account number. I assume you got this denial online? I’m still wondering if they’ll run my Chex when they process the paper I had to mail in.


I received the confirmation email immediately, but denial was a follow-up by letter several days later. Account was never funded.


I tried this morning to login to my account and can’t anymore. I will try again tonight but looks like they may have closed my account.


William Charles I received the denial letter today and a check for my $10 opening deposit. In a separate letter I received a “Welcome to Watertown Savings Bank’s internet banking service” letter. This is definitely Chex sensitive.

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