Offer at a glance
Maximum bonus amount:$300
Availability: Wisconsin only
Direct deposit required: Yes
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: Avoidable
Early account termination fee: 180 days, bonus forfeit
Household limit: One
Expiration date: 10/31/24
The Offer
WaterStone Bank is offering a bonus of up to $300. Bonus is broken down as follows:
Open a new checking account with direct deposit to earn $200
Add on a new savings or money market account and get an extra $100. Must deposit $5,000 at opening
The Fine Print
$200.00 Automatic Deposit bonus offer requires a $500.00 minimum recurring automatic deposit of payroll or government benefits to be received within 60 calendar days of account opening and will be credited to the checking account on the first statement cycle* after the direct deposit is received. A $200.00 payback fee will be imposed if the checking account is closed within 180 calendar days of account opening. Fees may reduce earnings. Offer applies to new checking account customers only, is redeemable at any branch location, cannot be combined with other offers, is limited to one per household, and does not apply to individuals that closed a WSB checking account within the past 180 calendar days.
$100.00 Money Market Account Bonus requires $5,000.00 or more opening deposit and a Universal checking account to receive bonus. Bonus will be credited to the money market account within 60 calendar days of account opening. A $100.00 payback fee will be imposed on your money market account if either the money market account or Universal checking account is closed within 180 calendar days of account opening.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Universal Checking has $1000 minimum average balance else $25/month fee
Savings has $100 minimum average balance else $5/month fee
Early Account Termination Fee
If account is closed within 180 days you forfeit the bonus.
Our Verdict
Not a bad deal if you live in an eligible area.
Hat tip to reader TonyBank
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