Deal has expired, view the best current checking bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $300
- Availability: MD, DC & VA only
- Direct deposit required: Yes, $500+ required, must be maintained for a further four months after initial deposit
- Additional requirements: eStatements
- Hard/soft pull: Soft
- ChexSystems:Yes, few datapoints of them being sensitive. Other datapoints indicate they are not.
- Credit card funding: Up to $250, Visa or Mastercard only
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Household limit: None
- Expiration date: November 17th, 2018
Contents
The Offer
- Sandy Spring Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements within 60 days:
- Sign up for eStatements
- Establish direct deposit of $500 or more and continue to receive this for at least 4 months
The Fine Print
- To receive the $300 bonus,
- Open any checking account (excluding Student Banking) online or mention the offer when you call our client service center or visit our community offices between November 1, 2018 and November 17, 2018.• Sign up for electronic statements and establish direct deposit of at least $500 within 60 days of account opening from a paycheck, pension, social security or other regular monthly income electronically deposited. Transfers from one account to another or deposits made at the branch or ATM do not qualify as direct deposits. Then continue to receive a monthly direct deposit of at least $500 for 4 months.
- Limited time offer available only to individuals who currently do not have a personal checking account with Sandy Spring Bank or have not had one within the last 90 days.
- Offer subject to change and cancellation without notice and cannot be combined with any other offer.
- Only one bonus per individual.
- Bonus will be deposited within 125 days of account opening, into the checking account meeting the bonus requirements.
- Accounts must be in good standing.
- All applicable taxes are the sole responsibility of the recipient.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The my free banking account has no monthly fee and also no monthly minimums.
Early Account Termination Fee
According to this comment the early account termination fee is $25 if the account is closed within 180 days.
Our Verdict
Previous bonuses have been for only $150. This is double that, it does require direct deposits for a total of five months but so did the last offer at only $150. One of the nice things about this bonus is that there is no monthly fee requirement. Keep in mind that ChexSystems sensitive data points. As always please share your experiences in the comments below. We will be adding this to our list of the best bank account bonuses.
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- 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?
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