Update 6/12/22: Deal is back.
Update 6/12/21: Bonus increased to $250 and requirements are easier. Hat tip to reader Kamil Sultan
Offer at a glance
- Maximum bonus amount: $250
- Availability: MA or CT
- Direct deposit required: Yes
- Additional requirements: eStatements
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, Chexsystems sensitive
- Credit card funding: Up to $6,000
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None
Contents
The Offer
- Florence Bank is offering a bonus of up to $225 when you open a new checking account and complete the following requirements within 60 days of account opening:
- Use promo code Sweet250. at account opening
- Sign up for eStatements and get a $200 bonus
- Receive a direct deposits and get a $50 bonus
The Fine Print
- Open a new Florence Bank personal checking account at our Springfield or West Springfield Branch or Online using Promo Code “225” and earn a $100 bonus when you enroll in eStatements.
- Earn an additional $100 bonus when you have at least $400 in direct deposits cumulatively post to the new account. (The bonus amounts do not count toward the $400.)
- Earn another $25 bonus by downloading and logging in to the Florence Bank Mobile App at least once.
- Conditions must be met within 60 days of account opening.
- Each cash bonus will post to your new account after each condition is met and may take up to 75 days from the 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
All checking accounts they offer have no monthly fee to worry about.
Early Account Termination Fee
According to the fee schedule there doesn’t seem to be any early account termination fee.
Our Verdict
They have offered a very similar bonus in the past as well, but that required singing a song instead of mobile banking. Seems like a good bonus if it turns out to be a soft pull. If anybody goes for this bonus then please share your experiences in the comments below.
Hat tip to reader Ryan M
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
I opened a checking account with this offer and got email confirmation the account was approved the next business day after submitting the online application. I checked all three credit bureaus: no hard pull, and no soft pull either.
Tried to apply OOS with an “address” in Chicopee as suggested below. I’m currently awaiting review so not expecting success but will update if that changes.
Also of note, Chase Freedom Flex was denied, probably since my cash advance limit was set at $100, so be aware of that.
Zip codes near Boston are also not allowed (like last time). Chicopee zip code works, I didn’t check others. So, looks like you have to be near a branch. Still worth trying each time, never know if they change something.
Seems like they extended the bonus though the reward bonus structure is a bit different. Looks like it is good as of May 16, 2022 (I assume they mean good until that date) using code Sweet250.
Also, to reiterate what another person posted here earlier, it looks like the credit card funding is only up to $500 while the ACH funding is up to $6000.
Funded account using Wells Fargo Biz Platinum card, will see if it codes as purchase or CA.
Going to try ACH push with Chase and wait 2 weeks to see if bonus posts. If that doesn’t work, then next up will be either Discover/Venmo/ or Paypal. If none of those work after waiting 2 weeks each, then going to use real DD.
Looks like they took down the offer pre-maturely. No longer see the promo page. Fortunately I took a screenshot in case I ever need to dispute.
Anyway, I got the full $250 bonus and it looks like Chase ACH counts as a direct deposit.
I think now is taken down for good, I’m trying to apply but I don’t see any mention of the bonus anywhere.
I went through the application process and it only allows for $500 in credit card funding. Kind of a bummer since the $6k spend is the main reason I was opening this account. The $6k limit is for ACH transfers only. Please update your CC funding information.
According to Florence Bank Rep I just spoke with: This promo has ended, and all accounts with them are only for folks in Western MA.
You can use a zip code for physical address, and then use an out of state mailing address. Unsure if bonus will still post.
did it work for you?
went pending then denied after 2 days
due to chex report
around 12/12 acts
Zip Code 06360 in New London County, CT didn’t work.
opened online. zipcode 06754. funded 6k with citi premier cash adv set to $0