Published on May 26th, 2019 | by William Charles3
[OH only] Mercer Savings Bank $200 Personal & $400 Business Checking Bonus
Offer at a glance
- Maximum bonus amount: $200/$400
- Availability: OH only [branch locations]
- Direct deposit required: Yes, no minimum specified
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None-$7.50
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
- Mercer savings bank is offering a bonus of up to $200 for personal checking accounts and $400 for business accounts. To receive the bonus you need to have a direct deposit made to the account within 90 days of account opening. The bonus you receive depends on your opening balance as well
- Personal checking
- $50 bonus with $50 opening balance
- $100 bonus with $1,000 opening balance
- $150 bonus with $2,500 opening balance
- $200 bonus with $5,000 opening balance
- Business checking bonus:
- $200 bonus with $3,000 opening balance
- $300 bonus with $5,000 opening balance
- $350 bonus with $7,500 opening balance
- $400 bonus with $10,000 opening balance
- Personal checking
The Fine Print
- Checking offer is not available to existing Mercer Savings Bank checking customers.
- The offer is not available to those whose accounts have been closed within 90 days or closed with a negative balance.
- To receive the checking reward, 1) open a new Mercer Savings Bank checking account, which is subject to approval; 2) have your direct deposit made to this account within 90 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government (does not apply to business accounts); and 3) the account must remain in good standing.
- At 90 days, your account will be reviewed, and if you have completed the above checking requirements, we will deposit your reward into your new account. You can receive only one new account opening related reward per customer. The value of the reward is considered interest and will be reported on IRS form 1099-INT.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
ezChecking (personal bonus) – No Monthly Fee
This is the best account for the personal bonus as it has no monthly fee
Strictly Business Checking (business bonus) – $7.5 Monthly Fee
This account is your only option for the business bonus (unless your business is a non profit). This account has a $7.50 monthly fee, this is waived with a minimum daily balance of $500+
Early Account Termination Fee
I wasn’t able to find a full fee schedule, so unsure if there is any early account termination fee or not.
Need to know whether it’s a hard or soft pull to open. If it’s a soft pull then I think both bonuses are worth doing, I assume for the business checking bonus no direct deposit is required as that is usually how those work. If anybody does go for this bonus then share your experiences below.
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- 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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