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Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â VA only
- Direct deposit required:Â No
- Additional requirements:Â None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: None
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â April 12th, 2020
Contents
The Offer
- Chesapeake Bank is offering a bonus of $100 when you open a new savings account. This is for people that have completed the money smart program (see links in the sidebar)
The Fine Print
- Offer limited to one new savings account per person. Offer available to savings accounts opened between 2/3/2020 and 04/30/2020 and may be discontinued at any time.
- $100 will be deposited to the new savings account 60 days after account opening.
- Account needs to be open and in good standing at the time of deposit, otherwise the $100 deposit will not take place.
- The minimum balance to open a Totally-Free Savings is $100, a Solo-Savings minimum to open is $200, a Youth Savings minimum to open is $25, a Clear Sky Savings has no minimum to open.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The totally free checking account has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule, so I’m unsure if there is any early account termination fee or not.
Our Verdict
Seems like a good deal as it’s a soft pull as there are no real requirements for the bonus. Unfortunately seems to be ChexSystems sensitive so keep that in mind. I will add this to our list of the best checking account bonuses.
Hat tip to reader IS250
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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- 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
