Update 2/27/24: Can now be opened online as well.
Offer at a glance
Maximum bonus amount: $150
Availability: MA
Direct deposit required: None
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Yes, not sensitive
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: $25, 90 days
Household limit: None listed
Expiration date: None listed
The Offer
Middlesex Federal is offering a $150 checking bonus when you open a new Simply Free Checking account:
Receive an MFS instant issue debit card and we’ll pay you $25 to download our mobile app and another $25 to add your MFS debit card to your digital wallet
Make fifteen Point of Sale (non-ATM) transactions using your MFS debit card within the second through fourth statement cycle from the date of account opening and we’ll credit your account $100 on the last day of the fourth statement cycle
The Fine Print
Open a Simply Free Checking (offer does not apply to Simply eFree Checking accounts opened online,) at any Middlesex Federal (MFS) branch, receive an MFS instant issue debit card and we’ll pay you $25 to download our mobile app and another $25 to add your MFS debit card to your digital wallet.
Payment will be in the form of an MFS check which must be deposited upon receipt into a new MFS Simply Free Checking using MFS mobile check deposit.
Middlesex Federal Online Banking registration and mobile app download are required.
Make fifteen Point of Sale (non-ATM) transactions using your MFS debit card within the second through fourth statement cycle from the date of account opening and we’ll credit your account $100 on the last day of the fourth statement cycle.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
There is a $25 fee if the account is closed within 90 days. There is also a $2.50 month inactivity fee if the account has been inactive for two years and has a balance under $100.
Our Verdict
It’s nice that there is no direct deposit required and it’s a soft pull. We will add this to our list of the best checking bonuses.
Hat tip to Peek
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