Published on April 10th, 2015 | by William Charles1
[ME, MA & NH Only] Bank of Maine $150 Checking Account Sign Up Bonus + 10¢ Per Debit Card Transaction
Offer at a glance
- Maximum bonus amount: $150
- Availability: ME, MA & NH Only
- Direct deposit required: Optional, no minimum (+$50)
- Additional requirements: Complete ten debit card transactions (+$50), complete five bill pays to five different payees with each bill being $25+ (+$50)
- Hard/soft pull: Soft
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: $25, 90 days
- Expiration date: None listed
- Receive a sign up bonus of up to $150 when you open a promise rewards checking account with Bank of Maine, the bonus is broken down as follows:
- $50 for completing ten debit card transactions
- $50 bonus if you have an active direct deposit after the second statement cycle
- $50 bonus if you complete at least five bill pays to five different payees (each bill must be $25+), these must post and clear during the second statement cycle
- You’ll also receive 10¢ cash back per debit card transaction when you have an active direct deposit that billing cycle
- You can also earn a free ski lift ticket to Sunday River/Sugarloaf
The Fine Print
- Statement cycle ends on the 16th of each month unless the 16th falls on a weekend or a holiday, in which case it ends on the previous or next business day
- Cash-Back Rewards (from debit card transactions) limited to $30 per statement cycle
- No signers on the account may be, or have been, a signer on a Promise Rewards checking account within the past 6 months
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Bank of Maine doesn’t post their fee schedule online. I was able to get access to one by e-mailing their support staff. You can view it by clicking here.
No Monthly Account Service Fee
This account does not come with a monthly service fee.
Early Account Termination Fee $25
If you cancel your account within 90 days of account opening you will incur an early account closing fee of $25.
Bank of Main used to offer a $250 bonus on this same account (direct deposit was a $100, same with bill pay bonus) but this has since been reduced. While this bonus is less, it’s still a pretty good offer. The main downside is that we don’t know what will trigger the direct deposit requirement outside of regular payroll.
If I lived in the target area, I’d go for this bonus. At minimum I’d be able to score $100 with the possibility of another $50 for the direct deposit (actually I’d be able to easily be able to get the full $150 bonus as I can change my work payments quite easily).
As always this bonus has been added to our checking bonus database, which is fully sortable (and very recently fully up to date). This bonus didn’t make our best of list, due to the fact it’s only for $150 and we’re not sure what will trigger that direct deposit requirement.