Posted by William Charles on May 18, 2019
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Published on May 18th, 2019 | by William Charles

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[Some Areas NY only] Ballston Spa National Bank (BSNB) $250 Checking Bonus

Update 5/13/19: Bonus can now be opened online. Hat tip to reader Flea

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: NY only [Branch Locator]
  • Direct deposit required: Yes, $500+
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees:
  • Early account termination fee: $20, 180 days
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • Earn $250 when you open a new qualified BSNB (Ballston Spa National Bank) checking account. Requirements are as follows:
    • Open a Free Direct Checking, GO Checking, or Premier Checking account
    • Receive a qualifying direct deposit of $500 or more monthly

bsnb

The Fine Print

  • To qualify for the $250 reward, you must open a new Free Direct Checking, GO Checking or Premier Checking account and receive at least one direct deposit in the amount of $500 or more monthly.
  • The initial direct deposit must occur within 60 days of account opening.
  • Account must be open and in good standing to receive the cash reward. Cash reward paid within 90 days of account opening.
  • All cash awards may be subject to 1099 tax reporting.
  • This offer may not be combined with any other offer and does not apply to second or multiple checking accounts within the same household or for customers who have closed a checking account within the last 180 days.
  • These limited time offers may be withdrawn or changed at any time.
  • All standard account requirements apply.
  • Additional conditions may apply.
  • Employees of BSNB are not eligible.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

$25 Referral Bonus

Might also be possible to get another $25 via  referral bonus. More info here.

Avoiding Fees

The Go Direct checking account has no monthly fee to worry about. According to the fee schedule there is a $20 early account termination fee if the account is closed within 180 days.

Our Verdict

Previously they offered a $160 personal checking bonus and they still offer a $240 business checking bonus you could do at the same time if you qualify. This is likely to be a deal worth doing if you live near a branch and if it’s also a soft pull to open the account. As always please share your data points if you decide to go for this bonus.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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John
John

Fees found at https://www.bsnb.com/documents/disclosures-agreements/fee-and-charges.pdf
$20 Early Account Closure Fee – within 180 days of opening

Alex
Alex

Thanks, I signed up for this today. Minor error in the post, It’s a $500 direct deposit, not $400

Himanshu Bhardwaj
Himanshu Bhardwaj

Anyone know if I could do an ach from another bank and would that qualify for a dd?

Saabfan
Saabfan

DP: Soft pull.

Also, there is a $25 referral bonus. $25 goes to each party. So, if you want me to refer you before opening, let me know @ Saabfan@hotmail.com. Or as an alternative, I just asked someone who was there when I went to open my account if they would refer me and they agreed.

Craig M
Craig M

$50 for you, $25 for referred customer

https://www.bsnb.com/personal/refer-a-friend.php

Flea
Flea

Bonus is back with new parameters and can purportedly be done online, if you are within its NYS target area (I’m not, which is why I say “purportedly”):

https://www.bsnb.com/personal/welcome-rewards-program.php

Craig M
Craig M

Is this a case where you could enter the banks zip code when applying online, then update your mailing address later?

Mimi
Mimi

If you enter a Saratoga zipcode, it’ll unlock the application form. Read the terms and proceed to apply if you want to. Let us know if you get approved instantly or if they do manual review and approval. GL!

Lo
Lo

Online is for “Saratoga County, NY and surrounding communities”

Dan - Legal Bank Robber
Dan - Legal Bank Robber

You should change the title to “Some parts of NY” got this message

“Your zip code appears to be outside of BSNB’s market area of Saratoga County, NY and surrounding communities. If you would like to speak with a representative about your specific situation, please contact us at 518 885-6781, Monday through Friday 8:00am to 6:00pm and Saturday from 9:00am to 1:00pm.”

Qi Chu
Qi Chu

It’s like NY selected area only. I tried my zip code 10022 and it’s not in the area.

mjonis
mjonis

This will still require an in-branch visit, FYI.
On the application page is this:

“After submitting this application a BSNB employee will call you within one business day to confirm the information contained in this application. During this call you’ll be asked to arrange a convenient time to visit a branch location of your choice to sign signature cards, provide proof of identity, order checks and/or ATM Debit Cards and/or complete the savings overdraft transfer documentation. Account signature card(s) are available for signing within three business days of application.”

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Got a call today after applying. Was told “Due to the Patriot Act I have to come into branch to sign final documents.” Refused to allow me to fax documents. What a load of bullshit William Charles

mjonis
mjonis

A few things to change:

1) The DD isn’t $400+. The offer clearly states $500 is needed.
2) No credit card funding is possible. The Free Direct Checking requires $50 min. opening deposit.

mjonis
mjonis

Just an FYI:
Chase “push” to BSNB does not count (shows up as an External ACH Transfer whereas a real DD shows up as Direct Deposit).
Will try with Key Bank and Santander though.

mjonis
mjonis

Two more DP:
Santander ACH doesn’t count as DD
Chase ACH doesn’t count as DD

Looks like only real DD will work.

DirtyLilRat
DirtyLilRat

Anyone get paid by these clowns yet?

mjonis
mjonis

Not yet, but the terms specify I believe 90 days after account opening (assuming you’ve met the conditions) is when they will pay the bonus.
Unfortunately due to the Moneylion fiasco I stupidly got involved with, I don’t think I made the $500 DD in time.

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