- Maximum bonus amount: $200 + 1,000 Scorecard points
- Availability: Wisconsin only
- Direct deposit required: Optional, $200+ (will receive a $60 bonus)
- Additional requirements: eStatements (+$3 per month for 12 months), 10 CheckCard transactions over $10 per month (+$1 per transaction)
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $30, 90 days
- Expiration date: May 31st, 2017
The Offer
- Open a new free checking account at any WaterStone branch and receive a sign up bonus of up to $200, bonus is broken down as follows:
- Receive a qualifying direct deposit of $200 or more within 90 days of account opening & get $50
- Receive $3 per month that you’re enrolled in eStatements (maximum of $36/1 years)
- Receive $1 per Checkcard transaction over $10 (limit of 10 per month for 12 months)
- Receive 1,000 Scorecard points when you enroll in the ScoreCard program
The Fine Print
- All bonus offers require a new WaterStone Bank SSB (WSB) Free Checking account to be opened by 5/31/2017 and requires account to be open and active for the entire statement cycle* in order to qualify for that statement cycle’s* bonus.
- Free Checking account requires $100 minimum balance to open the account and does not pay interest.
- Offer(s) applies to new checking account customers only and does not apply to individuals that closed a WSB checking account within the past 180 calendar days.
- Offer is redeemable at any branch location, cannot be combined with other offers, is limited to one per customer and is not valid to individuals that received an incentive under another offer since 2010. .
- Account must be open and active for 90 calendar days, or a $30.00 closing fee may be assessed at account closing.
- For tax reporting purposes, a 1099 form may be issued at yearend for recipients of bonuses.
- Â $50 Automatic Deposit bonus offer requires a $200 minimum automatic deposit of payroll or government benefits to be received within 90 calendar days of account opening. Bonus will be credited to the new checking account on the first statement cycle* after the direct deposit is received.
- E-Statements bonus offer requires enrollment in WaterStone Bank SSB’s Consumer Internet Banking and consent to receive e-statements to qualify to receive $3 recurring bonus. $3 bonus will be credited to the new checking account on a recurring basis on the last day of the statement cycle* provided you continue to be enrolled to receive e-statements. The new account will be monitored for a period of 12 months from account opening for continued enrollment in e-statements. $3 recurring bonus is capped to a maximum of $36.
- CheckCard $1 reward requires a CheckCard purchase of at least $10 or more that has posted and settled to the new checking account each statement cycle (ATM transactions do not qualify). CheckCard rewards are capped to a maximum of $10 per statement cycle for a 12 month period from account opening (maximum of $120 in rewards).
- Rewards will be consolidated and credited to the new checking account on the last day of the statement cycle*. U
- pon opening a WSB Free Checking account and enrolling in ScoreCard® Rewards program, 1,000 Scorecard® Reward points will be credited to your ScoreCard® Rewards account within 14 calendar days of account opening. *
- A statement cycle may be from the 17th (a calendar day) of a month to the 16th (a calendar day) of the next month. To determine your statement cycle please ask your Personal Banker at the time of account opening. OL027D
Avoiding Fees
There are no monthly fees on this account, it does need to stay open for at least 90 days otherwise you’ll be charged a $25 early account termination fee.
Our Verdict
In my opinion this bonus is way to complicated, most of it comes from having to complete 120 check transactions above $10, that’s $1,200 in spend that most people would be better off putting towards reaching minimum spend requirements on credit cards. You also need to open in branch and complete a direct deposit to get the full bonus, this is an easy pass for me. I don’t know why Waterstone bank insists on making their bonuses so difficult to qualify for. You can view bonuses we do recommend here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
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- 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
Hat tip to Maximizing Money
looks they do have 250 bonus+1.2 apr now
https://www.wsbonline.com/supersmart/