Offer at a glance
- Maximum bonus amount: $100 gift card to select local retailers
- Availability: MA only
- Direct deposit required: Yes, no minimum specified
- Additional requirements: None
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $10 if closed within 180 days
- Expiration date: None specified
The Offer
- Receive a $100 gift card to a business of your choice (from this selected list) when you open a checking account with Water Town savings and set up a direct deposit of your payroll or government check
The Fine Print
- Must currently not have a checking account at WSB to be eligible
- Minimum opening deposit of $10
- Direct deposit must be received within 45 days of account opening
- Gift card will be mailed out to you 8-10 weeks after account opening
- Limit of one gift per household
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
To avoid monthly fees, your best bet will be to open the free checking account which comes with no monthly fees.
Our Verdict
Given that you’re only given a gift card and not cash, I think there is much better value out there. This is especially true when we don’t know whether they do a hard or soft pull to open. Those that live within the local area might have a better idea of how valuable these giftcards actually are (are the businesses any good).
One thing I do like to see is local businesses supporting each other and this is a great way for the local credit union to get involved. If you have any experience with this credit union or any of the businesses listed as offering the $100 gift cards, please let us know more information in the comments.
Direct link to offer | Screenshot of offer