Posted by Chuck on March 3, 2016
Checking Accounts

Published on March 3rd, 2016 | by Chuck

44

[Expired] [NJ] Ocean First Bank $300 Checking Account Bonus

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: New Jersey (residents of these counties can open online: Ocean County, Monmouth County, Middlesex County and Mercer County)
  • Direct deposit required: Yes, unknown what will count for direct deposit purposes
  • Additional requirements: 30 debit card transactions
  • Hard/soft pull: soft
  • Credit card funding: yes [at least $2500]
  • Monthly fees: Waive-able 
  • Early account termination fee: Account must remain open for a year
  • Expiration date: Unknown

The Offer

Direct Link

Option #1

  • Open Simply Great checking or Classic Checking along with a free debit card and receive $50 immediately
  • Set up a direct deposit within 75-days and receive another $50
  • Swipe your debit card for signature or online transactions 30 times in the first 75 days the account is open and you will get another $200

Option #2

  • Open a Totally Free Checking account or an A+ Student Checking account along with a free debit card and receive $50 immediately
  • Set up a direct deposit within 75-days and receive another $50
  • Swipe your debit card for signature or online transactions 30 times in the first 75 days the account is open and you will get a bonus of 20,000 Uchoose Rewards points which is worth around $160 in gift cards, such as Amazon, Target or Walmart gift cards (must register for the Uchoose Rewards program)

Whichever offer you choose, be sure to use promo code OFWINTER16.

Avoiding Fees

  • Simply Great Checking account comes with a $6.95 monthly maintenance fee. Fee is waived with a daily minimum balance of $5000.
  • Classic Checking comes with a $4.95 monthly maintenance fee. Fee is waived with a daily minimum balance of $1000.
  • Totally Free Checking and Student Checking accounts don’t come with monthly fees.

Note that there is a stated $5 monthly inactivity fee.

Geographic Availability

This offer only works online for residents of Ocean County, Monmouth County, Middlesex County and Mercer County. In the past, other NJ residents were able to apply in a branch and get the offer.

The Fine Print

  • Offer available as of 3/1/16 for a limited time and subject to change at any time
  • All cash bonus’ are taxable
  • $50 minimum to open account
  • Account must remain open and active for 1 year or bonus will be forfeited
  • Limit of one cash bonus per household

Our Verdict

Very good bonus here for those in the area. Even if you aren’t in the above-mentioned counties, it could be worth driving into the closest branch and taking part in this offer. Before driving in, it’s worth verifying that they’ll let you open an account in-branch with the bonus; it has worked in the past.

Here’s how to go about this offer:

  1. Open the Classic checking account and fund it with $2,500 (or whatever the max is) with a credit card; park $1,000 in the account for a year to keep it fee-free (leave a little more so that you have funds there for the debit card requirement)
    1. Alternatively, open the Totally Free Checking account to get the 20,000 points offer instead of the $200; 20k points is worth around $160 in gift cards, so you’ll lose a little there but you won’t have to tie up the $1k for a year to keep it fee-free
  2. Set up a direct deposit; the wording sounds like a single direct deposit will work for this; hopefully, an ACH transfer will work
  3. Buy 30 $.50 Amazon gift cards (slowly), or use other options to meet the debit card requirement
  4. After a year, can close the account or you can downgrade it to a fee-free version so that you don’t need to leave any money in it to keep it fee-free

As always, you can see all available bank bonuses here, and our top picks here.

HT: moneysmylife

 

Useful posts regarding bank bonuses:



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Jack
Jack

Any $2 language on this one?

Chris
Chris

Unable to register online, identification issue…….Actually, I’ve been rejected by PNC earlier this week as well. Two questions: 1) Any chance to visit a branch and load $2500 without being coded as Cash Advance? 2) Shall I contact Chex or other credit bureaus to verify ID? Thanks!

Dizzy
Dizzy

Yay, it’s back! I will do it as soon as I get my BoA card and report back. Need those Amazon credits!

Matt
Matt

Great offer, thanks! My opening deposit coded as a purchase on the Santander Sphere card.

Jay
Jay

Can you do this if your current address is in middlesex county (rent a place) but your license address is in another? Also any data points of walking in to do this if you live in another county?

Thanks.

Jeff
Jeff

Data point: Funded $2,500 with Citi AA Plat, posted as purchase. Also, $2,500 the max you can fund it, so any value between (50? – 2500) should be good.

Jeff
Jeff

Got the letter now for the bonus disclosure for the checking account. It says that the offer is available from 3/1/16 to 4/30/16. At least we have a known end date now.

dizzy
dizzy

1. Application rejected from overseas (NJ resident)- “there was a problem with your application”

2. Will try again, in branch if I have to, though hoping online. I have one of those AICPA cards from BoA, can I use it to fund w/out coding as cash advance?

Matt
Matt

Are amazon $0.50 gc reloads showing up as “ATM Withdrawals” for anyone else?

Worried that they won’t count as “signature or online transactions.” This happened both when I did it as PIN-less debit and as signature transactions (which I changed through my payment options).

AG
AG

Transfer from my Discover bank account showing as P2P and not ACH. Will try transfers from Chase and PNC in the next few days and update.

dizzy
dizzy

Was able to successfully open account once I returned to the US.
Opened with BoA accountants card, it coded as “ATM withdrawal or bank transaction” on my card that needed $500 spend.

William Charles

Thanks, added data point.

RS
RS

I used to live in Mercer County and can still receive mail sent to me at that address (my parents’ home). Although I haven’t lived there in almost five years, the address must still be on my ChexSystems report since it comes up every now and then as a security question. Any data points on whether a bank will let you set up an account using a past address?

William Charles

Should be OK if you can get past the verification questions, but never tried.

PedroNY
PedroNY

Just wondering if there are any updates on 30 transactions rule? Do all post as ATM withdraw?

I plan to open this one up, just was not sure how much leg work I’ll need to do for 30 transactions.

Thank you,

PedroNY

AG
AG

Both my online (Amazon) and in-store (Stop&Shop) transactions were showing up as ATM withdrawals even after using as a credit/signature transaction. Called the customer care and they confirmed that the transactions are registering as Credit in their system and will count towards the 30 transactions rule.

Matt
Matt

Just want to point out that there is an inactivity fee:

Inactive Account
Applies to checking, savings, and money market accounts
with no activity for prior 6 months. $5 Per month

which can be found here: http://www.oceanfirstonline.com/home/personal/fee

dizzy
dizzy

Anyone see what counts for DD? Just getting to that now.

Eric
Eric

Anyone have their bonus post besides the $50?

Thanks!

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