Posted by William Charles on April 20, 2019
Bank Account Bonuses

Published on April 20th, 2019 | by William Charles

4

[MA only] Reading Cooperative Bank $100 Checking Bonus

Deal is back for 2019. Hat tip to reader ellisder

Bonus is back for 2018, referral bonus no longer available. Thanks to reader EW

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: MA only [Branch Locator]
  • Direct deposit required: Yes, $300+
  • Additional requirements: eStatements and at least one mobile or online banking bill payment
  • Hard/soft pull: Unknown
  • Credit card funding: Unknown 
  • Monthly fees: None
  • Early account termination fee: $25, six months
  • Expiration date: December 31st, 2016 December 31st, 2018 December 31st, 2019

The Offer

Direct link to offer

  • Receive a sign up bonus of $100 when you open a new eligible checking account with Reading Cooperative Bank and complete the following requirements:
    • $50 when you set up a qualifying direct deposit of at least $300 within 60 calendar days of account opening
    • $50 when you enroll for online banking with bill pay and complete at least one online payment within 60 calendar days of account opening

reading cooperative

The Fine Print

  • 50/50 incentive bonus offer is available for the following eligible accounts with a $10 minimum opening deposit: Value Checking, Value NOW Checking (Must maintain a minimum balance of $10 to earn Annual Percentage Yield of .01%), On-the-Go Checking, and Green Online Checking, and Green On-the-Go checking. Opening deposit must be a new money deposit (not a transfer from an existing Reading Cooperative Bank account)
  • To receive a $50 incentive bonus for establishing direct deposit (Direct deposit include deposits made by your employer, or a federal or state government agency or retirement benefits administrator, and generally, made by corporations or other organizations. It does not include deposits to your accounts that are made by an individual using online banking or an internet payment provider such as PayPal.), you must establish a recurring electronic deposit of no less than $300.00 to the account and have received at least one instance of the electronic deposit within 60 calendar days of account opening
  • To receive a $50 incentive bonus for online bill payment you must enroll in on-line banking with the bill-pay feature and initiate a successful on-line bill payment through Reading Cooperative Bank’s online banking system or mobile banking system within 60 calendar days of account opening.
  • The incentive bonus will be deposited to the associated checking account within 60 days of completing one or both of the required activities associated with incentive. Each incentive is independent of the other. You may complete one or both of the required activities.
  • The maximum incentive bonus is $100.00
  • This offer may not be combined with any other offers.
  • The incentive bonus is limited to one per primary account holder.
  • Account must be in good standing at the time of payment; an account is considered to be in good standing if it has a positive balance and is not in the process of being closed.
  • This offer may be withdrawn at any time without notice.
  • Valid 3/1/2016 – 12/31/2016.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Their green online account does not have any monthly fees, unfortunately you can only open that account in branch. There is a $25 early account termination fee if the account is closed within six months of account opening according to the fee schedule.

Our Verdict

We don’t know enough about this bonus to say whether it’s a good deal or not. If you can fund with a credit card and it’s a soft pull, then it probably is. Otherwise, probably not. If anybody has any personal experiences, then please share them in the comments below so that we can update this post. As always, view bonuses we do recommend here.

Useful posts regarding bank bonuses:



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EW
EW

$100 bonus is back and expires 12/31/18. The referral bonus has expired.

Aaron
Aaron

I went through the process of submitting an application, it seems you can only fund the account with a transfer from an existing account. Also, the link to open a new account from the promo page seems to be broken. You can open one from the main page, but it’s hard to know if the promotion will be linked to the account. For these reasons I abandoned my application.

ellisder
ellisder

This is back until 12/19 https://readingcoop.com/50-50/

Peek

The green online account is available online now but I wasn’t able to get through the application. Once it got to “Identity Verification” and I clicked next it failed with “Sorry, your application could not be completed.” Not sure if this was an issue with the application process or my very novel of a Chex report.

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