Offer at a glance
- Maximum bonus amount: $100 Visa gift card
- Availability: OH only [Branch Locator]
- Direct deposit required: None
- Additional requirements: Initially open with at least $100
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: $4, waivable
- Early account termination fee: 180 days, otherwise bonus is forfeit
- Expiration date: April 8th, 2016
Contents
The Offer
- Receive a sign up bonus of a $100 Visa gift card when you open a new reserve checking account with Westfield Bank, FSB in Ohio and do the following:
- Open the account with a $100 minimum
The Fine Print
- To obtain the $100.00 prepaid VISA gift card (bonus), you must open a new Reserve Checking account with an initial deposit of at least $100.00 on or before April 8, 2016
- The new account must be opened with money not currently on deposit with Westfield Bank, FSB
- The new account must remain open for at least 180 calendar days, or the amount of the bonus will be deducted from the account at closing
- The bonus will be given at the time the account is opened and the required minimum opening deposit is made.
- There is a limit of one bonus per household (same address)
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
$100 Early Account Termination Fee
There is an early account termination fee of $100 if the account is closed within 180 days (they take back the bonus)
$4 Monthly Fee
This account comes with a $4 monthly fee that is waived if you have a minimum balance of $1,000 or receive a direct deposit (no minimum specified).
Our Verdict
Always nice to see bonuses with no bonus requirements and pretty easy to keep fee free as well, shame it’s a Visa gift card instead of straight cash but worth doing if it’s a soft pull (even moreso if you can initially fund with a credit card). If anybody has any experience/data points please share them in the comments. We’ll probably add this to the list of the best bonuses if we can confirm it’s a soft pull.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
They don’t accept applications over phone and I would be concerned about risking having 1k tied up without any previous record of what triggers the DD.