Posted by William Charles on May 17, 2016
Bank Account Bonuses

Published on May 17th, 2016 | by William Charles

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[Expired][NY & CT only] Ridgewood Savings Bank $200 Checking Bonus

This bonus has expired, click here for a list of the best checking bonuses.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Online account opening eligible for New York State and Fairfield County residents only
  • Direct deposit required: Yes, minimum of $250
  • Additional requirements: No
  • Hard/soft pull: Soft
  • Credit card funding: Cannot be funded with a credit card
  • Monthly fees: $0-$10
  • Early account termination fee: $0
  • Expiration date: None listed

The Offer

Direct link to offer

  • Receive a sign up bonus of $200 when you open a new checking account with Ridgewood Bank with the promotional code ‘200good’. Bonus broken down as follows (requirements must be met within 60 days of account opening):
    • Receive $100 when you enroll in direct deposits of at least $250
    • Receive $50 for performing ten debit card transactions
    • Receive $50 for enrolling in eStatements

200OfferBanner

The Fine Print

  • Minimum $25 to open a checking account
  • This offer may not be combined with any other offers and applies to checking account customers only.
  • This offer is limited to one checking account per tax ID#.
  • You will receive promotional compensation as follows if you use the promo code and the required actions are performed within the first 60 days of opening your checking account: $50 if you sign up and receive eStatements; $100 for direct depositing a minimum of $250 from a recurring Direct Deposit of payroll, Federal/state government benefit, or pension benefit; $50 for using your debit card ten times to complete a signature or PIN transaction.
  • Promotional compensation will be credited to your checking account within 30 days after the qualifying time period passes (90 days). Existing checking account customers are eligible if the promo code is provided and the required actions are performed after the start date of this offer and prior to the offer’s termination.  Bonus will be considered interest and will be reported to IRS form 1099-INT.
  •  Online account opening eligible for New York State and Fairfield County residents only

Avoiding Fees

They have a free checking account, it’s free as long as you have one of: online banking, a direct deposit or combined total balance relationship of $2,500.00 in your Ridgewood deposit accounts. 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

This is a nice bonus, it’s easy to keep the account fee free and you can get $100 of the bonus without a direct deposit requirement. No credit card funding is a bit of a downside, but not the end of the world. If I lived within the target area, I’d be completing this deal. Because of this we’ve added it to our list of the best bank account bonuses currently available.

Useful posts regarding bank bonuses:

Hat tip to Danny Deal Guru



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Nick
Nick

Any idea if these guys are Chex Sensitive? I opened a Chase account this January, a PNC in April, an M&T and Popular Community Bank this month and would love to grab the quick $100 here

Daniel
Daniel

Denied post-application:

“Unfortunately, we were unable to open the account because of the numerous inquiries performed by other banks within a short period of time.”

James
James

Same here. Looks like Nick the other poster got his question answered.

Nick
Nick

Yep, looks like it. Damn, I figured I would take the plunge and be a data point but my app went pending as well. I expect a denial given my recent inquiries. Oh well, worth a shot. I’ll update this if I eventually get approved.

Nick
Nick

I stand corrected! Approved this morning with several chex inquiries in the past few months.

Chris
Chris

Is there any punishment for cancelling the account within a month?

Tony
Tony

Got accepted and this is my fourth checking application in the last 30 days

Dan
Dan

Does an ACH transfer from an outside bank count as DD?

Nick
Nick

Not sure, but I’ll report back when I give it a shot.

Christopher
Christopher

Did you have any luck?

Nick
Nick

No luck yet, honestly I had to clamp down on all my MS lately so I don’t have the cash flow I used to. Will be ramping back up again shortly but I don’t know what the best account to use would be. Gonna try Serve as the test deposits coded as direct deposit

Nick
Nick

Ok so I did a Serve ACH and it is showing up as Direct Deposit SERVE ENTERPRISE / – EXCHANGE on the page, not sure what it counts as though for the bonus

Eric
Eric

So you just have to have online checking in order to get the account fee free? Or did I read that wrong

Hongchang
Hongchang

My online application was unsuccessful, I was told they couldn’t verify my identity. Luckily they do have a branch near where I live. So I went there and opened a account. The offer is good in branch and they have a yellow form for it. Will report back.

aram
aram

Went to the branch in the hopes to feed it w/CC (don’t doo took more than 1.5h) w/o luck $25 min deposit cash only (no cc or debit). Nice people but old tech. Seems that my branch gonna manually monitor it for the requirements? After mentioning and reminding few times finally they found (I hope the correct) paper to put the promo which didn’t go in to the computer. They needed two IDs to scan (as a picture to the system: DL and any CC). Separate paper for overdraft protection. (which I’ve opted out IDK if that’s good or bad) Another papers for the debit card and online banking. They were praising the rewards system, anybody knows if it’s any good? May be we can have a conga for their rewards referral if Its something worthy. If someone want to use mine let me know I’ll get 300 points. I’m scanning that paper in case someone goes there and they can’t find it.
http://imgur.com/W0oS2CG

Jason
Jason

Hi aram,

I would like your referral for the rewards program

jcb
jcb

FYI applied yesterday (Sunday), app went pending, and when I called today they said nothing gets processed on weekends and to expect an electronic response by end of day.

Ratbastid
Ratbastid

Are we supposed to submit the “Cash gift Authorization/Receipt form” immediately, or AFTER we meet the requirements?

Dirah
Dirah

I sent money through etrade, and it posted like this:
Direct Deposit E*TRADE BANK – / TRANSFER

Can I assume it’ll earn the bonus, or should I transfer also from a business account just to be sure?

Hongchang
Hongchang

I guess everyone is still waiting for the verdict. My ACH from Amalgamated Bank showed up as:
Direct Deposit – / A2ATRNSFER

Dirah
Dirah

Just to be safe, I did another transfer from my Bofa business account.
Ironically, that coded as P2P, while the E*trade didn’t.
It posted like this:
Direct Deposit MYNAME / ONLNE TRNSFR00000000 – P2P

Ben
Ben

Does it need more than one direct deposit or only one time? Also my bank transfer was credited as a direct deposit…

Ben
Ben

Does it only need a one time direct deposit?

Christopher
Christopher

Was it a standard transfer or ach?

joe
joe

anyone know .. one per person or one per household?

DJ
DJ

I was approved instantly when I applied online on a Sunday. But got a denial email on Monday stating excessive inquiries. I however received a paper statement at the end of the month. I called up the bank and when they checked, the account was actually opened and the denial was for the online banking signup. So the banker deleted my online profile and asked me to signup again!

Those who were denied when applying online – it might be worth calling them and checking if the account was indeed denied!

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