Posted by William Charles on March 30, 2020
Bank Account Bonuses

Published on March 30th, 2020 | by William Charles


[WI only] WaterStone Bank $256 Checking Promotion + 1,000 ScoreCard Points

Update 3/30/20: Deal is back, no end date listed. Hat tip to reader EW

Update 06/06/18: Bonus is back and valid until August 31st, 2018. Hat tip to reader DrBooyah.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Wisconsin only
  • Direct deposit required:  Optional, $200+ (will receive a $50 bonus)
  • Additional requirements: eStatements (+$3 per month for 12 months), 10 CheckCard transactions over $10 per month (+$1 per transaction) & bill payment ($50)
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: 90 days, $30 fee
  • Household limit: One
  • Expiration date: October 30th, 2017 May 31st, 2018 August 31st, 2018

The Offer

Direct link to offer

  • Open a new free checking account at any WaterStone branch or online and receive a sign up bonus of up to $250, 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 $50 on one year account anniversary
    • Receive 1,000 Scorecard points when you enroll in the ScoreCard program

The Fine Print

  • All checking bonus offers require a new WaterStone Bank SSB (WSB) Free Checking account to be opened by 5/31/2018 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 in the past 5 years.
  • Employees of WSB, its subsidiaries and members of their immediate families and households are not eligible.
  • 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.
  • Other checking options are available for this offer, ask us for more details. See Account Disclosure for more information.
  • $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 (maximum of $36 bonus).
  • 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*.
  • Receive a one-time anniversary bonus of $50 deposited to account within 30 days after the account has been open and active for 1 year.
  • Upon 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 30 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.

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 $30 early account termination fee.

Our Verdict

They have offered the same bonus in the past but for only $200, the extra $50 comes from the anniversary bonus.  I don’t think this bonus is worth it for most people as most of the bonus comes from the check card transactions and to receive the full amount you need to spend at least $1,200. If anybody goes for it please share your experiences below. I’ll add it to  our list of the best checking bonuses as it still might be a good deal for those that have done better deals before.

Big thanks to reader, DrBooyah who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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According to this you can open online


Doc.they do 250+1.2%APR with money market with this link..


Title said $256. May want to check it


no hard pull


I didn’t see anything about the requirement to do bill pay for 3 months in order to be eligible for that last $50. When I look at the link:

It states the last $50 is paid on the account one year anniversary

In regards to the deal, I see this as simply a once per month 10% cash back opportunity by spending $100 (10 transactions at $10 apiece) and getting $10 back a month (+plus the monthly $3 estatement bonus). Certainly not for everyone, but my preferred grocery store only takes debit cards anyway, so might as well get some free month each month


You can get an extra $50 if you refer anyone to Waterstone Bank and that referred person opens a new checking account. I just got an extra $50 for referring my SO who is also doing the bonus. It’s a bit of a manual process as you have to manually email your personal banker.


Offer is back through 8/31/2018


Offer is now limited to ONE PER HOUSEHOLD.


Wisconsin residents are really getting loved on…


Does anyone know whether you can open with an out of state address? Between this and the PNC offer, it is now worth the flight. Also wonder if Venmo triggers the debit card requirement.


Out-of-state attempt. App auto declines if home address not in WI. Tried again with state of WI and my info but there is a zip code/state validation. No go it would appear.


Nice try. Damn cheeseheads!


Use a fake address and then just change the mailing address to your info?


No, real address but state for bank in question.


This is for their Essential Checking Account, which has a maintenance fee of $10 unless you make 5 transactions a month or $300 in direct deposit a month. Kills the deal for me.


The account is as terrible as you would have imagined…

Matt K
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