This bonus has expired and is no longer available. Click here to view the best current checking bonuses.
Offer at a glance
- Maximum bonus amount: $130
- Availability: Most likely MA only [Branch locator]
- Direct deposit required: Yes, no minimum specified
- Additional requirements: $10 minimum opening deposit required
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None mentioned
- Expiration date:
July 10th, 2017January 31st, 2018 - Household limit: None mentioned
The Offer
- Open a new Optimum Free Checking Account with Stoneham Bank and receive a bonus of $130 when you complete the following requirements:
- Deposit $10 or more at account opening
- Receive a qualifying direct deposit within 90 days of account opening, no minimum specified
The Fine Print
- Checking offer is not available to existing StonehamBank checking customers. To receive the $130 checking bonus: 1) Open a new Optimum Free Checking Account, which is subject to approval; 2) Deposit $10 or more at account opening; AND 3) Have your direct deposit made to this account within 90 days of account opening.
- Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
- After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within a month following your 90-day retention.
- The value of the credit is $130.00 and will be reported as interest on IRS Form 1099-INT.
- Offer is valid as of 1/10/2017 through 7/10/2017, and may be withdrawn at any time.
- The Optimum Free Checking Account offer cannot be combined with any other offer.
- All other rules and regulations for checking accounts apply.
- This offer is available through our online account opening and branches.
- You must be at least 18 years old or older to open this account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There is no monthly fees on this account. There is a monthly inactivity fee of $10 per month if the account is inactive for 12 months. I wasn’t able to find any early account termination fee though in their fee schedule.
Our Verdict
Not a bad deal considering it’s a soft pull and there are no monthly fees to worry about. Hopefully it’s not too difficult to meet the direct deposit requirement. We’ve added it to our best checking promo page, but it’s down near the bottom as there are much better bonuses out there.
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- 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?
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