Looks like this bonus has expired early!
Offer at a glance
- Maximum bonus amount: $300
- Availability: ME, NH
- Direct deposit required: Yes, $500+
- Additional requirements: eStatements
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $500, Visa or Mastercard only
- Monthly fees: $5-$20
- Early account termination fee: $25, six months
- Household limit: None listed
- Expiration date: December 31st, 2017
Contents
The Offer
- Camden National Bank is offering a bonus of up to $300 when you open a qualifying checking account, receive direct deposits of $500 or more during your second statement cycle and have eStatements. The bonus you receive depends on the account you open:
- $100 for opening a Simple Promise account
- $200 for opening a Promise Rewards account
- $300 for opening a Promise Premier checking account
The Fine Print
- To be eligible for account bonus you must open either a Simple Promise, Promise Rewards or Promise Premier checking account between June 12 and December 31, 2017.
- A $100, $200 or $300 bonus will be paid, respectively, if you have direct deposits of $500 or more, of your payroll, pension or government benefits, such as Social Security during your second statement cycle.
- Your bonus will be paid within 60 days of meeting requirements.
- No signers on the account may be, or have been, a signer on a Camden National Bank consumer checking account within the past 6 months.
- Limited time offer, subject to change.
- You must be a Maine or New Hampshire resident at account opening.
- Account must be maintained in good standing to earn bonus and rewards.
- In addition to the direct deposit requirements, to earn cash-back rewards you must be enrolled in eStatements.
- Account bonuses and rewards are reported to the IRS as interest income. Other terms and conditions may apply; please contact the bank for further details.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Simple Promise Checking ($5 Monthly Fee – $100 Bonus)
This account has no monthly fees if you have eStatements (also a requirement for the bonus), otherwise a $5 fee is charged.
Promise Rewards Checking ($5 Monthly Fee – $200 Bonus)
This account comes with a $5 monthly fee. This is waived if you do any of the following:
- Have an average monthly balance of $100+
- Keep a balance of at least $2,500 or more in any combination of qualifying deposit and certificate of deposit balances
Promise Premier Checking ($20 Monthly Fee – $300 Bonus)
This account comes with a $20 monthly fee. This is waived if you do any of the following:
- Keep a minimum average balance of $2,500 or more in your account
- Keep a balance of $25,000 in total deposit balances
- Consumer and residential mortgage loan balances of $150,000 or more
Early Account Termination Fee
There is an early account termination fee of $25 if you close the account within 6 months of account opening.
Our Verdict
Shouldn’t be difficult for people to keep the promise premier checking account fee free so the $300 bonus is easily the best (if you don’t have $2,500 to spare then you might have to go for the $200 bonus). Given that it’s a soft pull this bonus is a no brainer if you live in the target area. Definitely adding it high on our list of the best checking current sign up bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
Typo found in the avoiding fees section—under the “Promise Premier Checking” section, the title says the monthly fee is $20, but the paragraph underneath says the monthly fee is $5 ($20 is the correct number)
Fixed, thanks
The bonus has expired btw. I think you should mark it as expired.
was told no on the googlehome, claimed that was an old promotion and that me receiving the $300 was the alternative to that promotion
Has anyone had any luck downgrading to the free account after receiving bonus? As others mentioned, I was also charged the $20 account fee, even though I transferred in $2500 as soon as possible (8 days after opening). It sounds like calling to get that refunded should be no problem though.
Now that I received the bonus, I’m going to secure message and ask about the googleHome, cause I put that code in my application, but wanted to receive the money before pushing for that.
$20 fee refunded via chat, no need to call in
Here is my info:
-opened on 8/29
-first statement date was 8/31 (odd how just after opening)
-Sent DD from capital one 360 checking on 9/6 (so during the second statement cycle), displays as “CAPITAL ONE N.A.CAPITALONEPPD”
-Bonus ($300) received on 10/1
just a PSA for everyone,
I missed out on the $300, because the direct deposit arrived on the 1st statement cycle (I was 2 days early). Your direct deposit MUST arrive on the 2nd statement cycle, don’t make the same mistake I made.
The bonus is gone!
Any data point on the 15 cent cashback reward (up to $50 per month) on each “qualified” debit card purchase? What counts as qualified? Do they shut you down if you try to MS it?
500 ACH triggered bonus 🙂 Unfortunately don’t know which (Venmo, Chase, Cap360). All listed as Credit and have PPD in title. Chase says Ext Trnsfr as well.
how quickly after deposit did your bonus post? did you do during the second statement cycle like the bonus stipulates? also was your deposit from capital one checking or savings? I did capital one checking and it does not say PPD (only the trial deposits do).
Yes 2nd stmt. Cap360 was from checking. Opened 6/21, posted 7/31 🙂
actually my capital one checking DD did end up adding the “PPD”, so that should count as a DD. I just need to do it during the second statement cycle now. will report back.
I entered the google home code as well during sign up. Ill be inquiring about that after i secure the $300 bonus, but interested to hear if anyone has had success with that
My bonus posted as well. The DD hit just prior to the end of the second statement cycle with a day to boot. I was real worried…phew! On a side note, I got that $20 fee reimbursed when I call in about it.
Hi larry. Did you also get the free Google Home device?
Folks be real careful with account balances with this bank. Less than 20 days into having my account open they hit me up with a $20 service fee claiming I did not meet the balance requirements. I had the required balance in there a week after opening up account and about 10 days after that came the fee.
They didn’t give you a grace period? Did you get them to waive it?
I spoke with a rep from Camden National Bank and confirmed that the early account termination fee is $25 if the account is closed within 6 months of opening (not $5 like the post suggests)
Thanks, updated post.
What if you convert to a fee-free no minimum balance product? Do you still get charged the $25 fee?