Offer at a glance
Maximum bonus amount: $300
Availability: NY & CT
Direct deposit required: Yes, $300+
Additional requirements: None
Hard/soft pull: Soft
ChexSystems: Unknown, sensitive. Seems you can get around them being sensitive by applying in branch
Credit card funding: Cannot be funded with a credit card
Monthly fees: $0
Early account termination fee: None
Household limit: None listed
Expiration date: December 16, 2024
The Offer
Ridgewood Savings Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
Receive $300+ in qualifying and recurring direct deposits
The Fine Print
Bonus Offer is available from September 9, 2024, through December 16, 2024 (“Promotion Period”) for consumers who (a) do not currently hold a Ridgewood checking account either personally or as joint owner, (b) did not have a Ridgewood checking account either personally or as joint owner in the three-month period prior to opening the required account under this offer, and (c) open a new personal checking account during the Promotion Period that satisfies the applicable offer criteria set forth below (an “eligible customer”).
Customer(s) must be an eligible customer and meet all existing checking account qualification requirements to qualify for this offer and must maintain a checking account in accordance with the Bank’s account terms, conditions and Disclosure of Service Charges.
Minimum of $300 or more in qualifying and recurring direct deposits to be eligible for the bonus.
The $300 bonus earned in accordance with the requirements of this offer will be credited to the new checking account within 180 days from account opening.
The first direct deposit must be made within 90 days and the last qualifying direct deposit must be received within 150 days of new checking account opening date.
Each eligible customer may only receive one bonus award.
This offer cannot be combined with any other offer.
Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits (such as Social Security). Person-to-person and bank transfers between your Ridgewood Savings Bank accounts or accounts you have at other financial institutions or brokerages do not qualify.
Payments received for goods sold do not qualify. The value of the bonuses paid under this promotion is considered interest, and Ridgewood Savings Bank will issue an IRS Form 1099-INT or other appropriate form.
Offer may be withdrawn or modified at any time without notice.
Ridgewood Savings Bank employees and immediate family members are not eligible to participate in this offer.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Free green checking has no monthly fees to worry about.
Early Account Termination Fee
I couldn’t find any mention of an early account termination fee in their fee schedule, so I’m going to assume there isn’t one.
Our Verdict
Been awhile since we have seen a bonus from Ridgewood, last time it was $250-$350 but the requirements were more difficult and harder to keep fee free. This bonus seems relatively easy especially considering it’s for $300. Added to the best bank bonus page.
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