Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $300
- Availability: NY & CT
- Direct deposit required: Yes, $300+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Unknown, sensitive. Seems you can get around them being sensitive by applying in branch
- Credit card funding: Cannot be funded with a credit card
- Monthly fees: $0
- Early account termination fee: None
- Household limit: None listed
- Expiration date: December 16, 2024
Contents
The Offer
- Ridgewood Savings Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
- Receive $300+ in qualifying and recurring direct deposits
The Fine Print
- Bonus Offer is available from September 9, 2024, through December 16, 2024 (“Promotion Period”) for consumers who (a) do not currently hold a Ridgewood checking account either personally or as joint owner, (b) did not have a Ridgewood checking account either personally or as joint owner in the three-month period prior to opening the required account under this offer, and (c) open a new personal checking account during the Promotion Period that satisfies the applicable offer criteria set forth below (an “eligible customer”).
- Customer(s) must be an eligible customer and meet all existing checking account qualification requirements to qualify for this offer and must maintain a checking account in accordance with the Bank’s account terms, conditions and Disclosure of Service Charges.
- Minimum of $300 or more in qualifying and recurring direct deposits to be eligible for the bonus.
- The $300 bonus earned in accordance with the requirements of this offer will be credited to the new checking account within 180 days from account opening.
- The first direct deposit must be made within 90 days and the last qualifying direct deposit must be received within 150 days of new checking account opening date.
- Each eligible customer may only receive one bonus award.
- This offer cannot be combined with any other offer.
- Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits (such as Social Security). Person-to-person and bank transfers between your Ridgewood Savings Bank accounts or accounts you have at other financial institutions or brokerages do not qualify.
- Payments received for goods sold do not qualify. The value of the bonuses paid under this promotion is considered interest, and Ridgewood Savings Bank will issue an IRS Form 1099-INT or other appropriate form.
- Offer may be withdrawn or modified at any time without notice.
- Ridgewood Savings Bank employees and immediate family members are not eligible to participate in this offer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Free green checking has no monthly fees to worry about.
Early Account Termination Fee
I couldn’t find any mention of an early account termination fee in their fee schedule, so I’m going to assume there isn’t one.
Our Verdict
Been awhile since we have seen a bonus from Ridgewood, last time it was $250-$350 but the requirements were more difficult and harder to keep fee free. This bonus seems relatively easy especially considering it’s for $300. Added to the best bank bonus page.
Useful posts regarding bank bonuses:
- 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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- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
P2 received this bonus yesterday. Took a little longer to post than for others but the general rule deduced by
Yang , that the bonus posts no later than the 3rd friday of the 2nd DD, held true.
12/16 – account opened in branch on last day of promo (promo was no longer advertised online but was available in branch)
1/10 & 1/24 – $300+ real DDs
2/13 – $300 bonus posted
I am not even sure for myself lol
P2 actually got it yesterday, with Fidelity push on 1/6&2/3
I did the same, plus real DD on 1/10, but still have not gotten it.
Looking at your DP, I see that you opened 10/16. If so, your second Fidelity push on 2/3 would have been outside the 90-day qualification period.
The 90 day is the first DD. The last DD can be within the 150 day
“The first direct deposit must be made within 90 days and the last qualifying direct deposit must be received within 150 days of new checking account opening date.”
From the DP below, looks like the bonus posts no later than the 3rd friday of the 2nd DD? I opened the account on 10/16/2024, pushed $300 from Fidelity on 1/6/2025 and got $3k real DD on 1/10/2025, but still haven’t got anything.
There is a new bonus, but only for direct deposits of Social Security benefits from the SSA: https://www.ridgewoodbank.com/home/misc/ssddbonus
Bonus received couple days ago: DP
Acc open 12/2
Chase Payroll push on 12/11 and 1/07 in the amounts of $320 and $333
Bonus Payment $300 :1/22
Bonus posted. I opened on 9/26/24.
DD schedules/postings/amounts:
10/11/24 – $253.92
10/18/24 – $258.00
10/25/24 – $148.66
11/1/24 – $266.17
11/8/24 – $196.27
11/15/24 – $385.11
11/22/24 – $89.85
11/29/24 – $249.66
12/6/24 – $310.01
12/13/24 – $244.24
11/18 account opened
12/4 & 12/18 $305 real DD
12/26 $300 bonus posted
11/08 account opened
11/12 $301 push from M&T
12/04 $301 push from Fidelity CMA
12/24 $300 bonus posted
9/27 Open
10/4 & 18 $300 Real DD
12/13 $300 Bonus
I received my $300 bonus today!
Same! I opened in October and had two real $300 DDs.
do you have DPs on your DD amounts?
Both of mine were $301.
Opened in NY branch with Florida id with tons of inquiries for last years.
They also suggested me to apply for their credit cards, personal and business, both approved, each has $500 bonus for $5000 spending.
Do you mind sharing which branch, in case the promo comes back? I was declined earlier this year in-branch with an OOS license.
Which bureau did they pull for the CC apps?