Update 4/1/23: Deal is back and valid until May 10, 2023. Hat tip to Tsarinax
Update 10/14/22: Extended until 10/22/22.
Update 9/19/22: Deal is back and valid until 9/30/22.
Update 3/26/22: Deal is back and valid until June 7, 2022.
Offer at a glance
Maximum bonus amount: $150
Availability:You must be a CT resident, or current USB customer, to apply online. If not CT resident, must apply in-branch.
Direct deposit required: Yes, no minimum specified and can get some of the bonus without a direct deposit.
Additional requirements: None
Hard/soft pull: Soft pull
ChexSystems: Unknown, Sensitive when applying online, not sensitive in branch
Credit card funding: None
Monthly fees: Avoidable
Early account termination fee:
Household limit: One
Expiration date: October 10th, 2020 November 13, 2021
The Offer
Union Savings Bank is offering a bonus of up to $150 when you open a new checking account. There are two options:
Open an essential checking account and receive a bonus of up to $100. Bonus is broken down as follows:
Get $50 if you make one qualifying direct deposit within 90 days of account opening
Get $50 when you open a USB debit card and make 10 debit card purchases within 90 days of account opening
Open an access checking account and get a bonus of up to $250. Bonus is broken down as follows:
Get $100 if you make one qualifying direct deposit within 90 days of account opening
Get $50 when you open a USB debit card and make 10 debit card purchases within 90 days of account opening
The Fine Print
To receive up to $100 checking bonus, open a new Essential Checking account (subject to approval) and deposit $25 or more at account opening. Get $50.00 if you make one qualifying direct deposit within 90 days of opening the account and/or get $50.00 when you open a USB Debit Card and make 10 debit card purchases (signature or PIN) within 90 days of opening the account. ATM transactions do not qualify. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify.
To receive up to $150 checking bonus, open a new Access Checking account (subject to approval) and deposit $50 or more at account opening. Get $100.00 if you make one qualifying direct deposit within 90 days of opening the account and/or get $50.00 when you open a USB Debit Card and make 10 debit card purchases (signature or PIN) within 90 days of opening the account. ATM transactions do not qualify. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify.
Offer is valid from August 3, 2020 through October 10, 2020. New USB personal checking customers only.
Limit one per household. Promotion may be canceled without notice. Bonus amounts will be credited to checking account between November 1, 2020 and February 1, 2021 depending on the date you open the account. Account must be open and in good standing to receive bonus. The checking bonus is subject to 1099 IRS reporting requirements.
If qualifications are met, USB personal checking customers will have the option to donate their checking bonus to a local food bank that serves those in need within Union Savings Bank’s market area. All donations will come from USB; no funds will be withdrawn from customers’ checking accounts. Preference to donate the money to charity will be captured at the time of account opening. If no preference is designated at the time of account opening, the bonus will default as a credit to the customer’s account.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Essential Checking $100 Bonus
This account has no monthly service fee to worry about.
Access Checking $150 Bonus
This account has a monthly service fee ($20), this is waived if you do any of the following:
maintain a minimum balance of $5,000
combined deposit balances of $25,000, or
combined deposit and loan balances of $50,000. Loan balances include consumer and mortgage loans.
Early Account Termination Fee
I wasn’t able to find any mention of an early account termination fee.
Our Verdict
Last year they had the same bonuses/requirements but the actual bonuses were $150/$250. These offers are significantly worse, because of that we won’t be adding this to our best bank bonus page.
Hat tip to reader Pudding
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