[CT only] Savings Bank of Danbury $100-$300 Checking Bonus

Offer at a glance

• Maximum bonus amount:$300
• Availability: CT only
• Direct deposit required: Depends on the bonus
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees:
• Early account termination fee: None found
• Household limit: None listed
• Expiration date:None listed

The Offer

Direct link to offer

• Savings Bank of Danbury is offering a bonus of up to $300 when you open a new checking account with promo code Get123. Bonuses are as follows:
  • To qualify for the $100 cash bonus, you are required to open a new Priority Checking account and make 10 debit card transactions per month for two (2) consecutive months
  • To qualify for the $200 cash bonus you are required to open a new Priority Plus Checking account and have qualifying direct deposit(s) totaling $500 per month for two (2) consecutive months
  • To qualify for the $300 cash bonus you are required to open a new Priority Platinum Checking account and have qualifying direct deposit(s) totaling $500 per month for two (2) consecutive months

The Fine Print

• Minimum $50 to open a checking account.
• This offer applies to new checking account customers.
• New money is defined as money not currently on deposit with Savings Bank of Danbury.
• New checking account customer is defined as anyone not having owned a checking account with Savings Bank of Danbury in the 180 days prior to taking advantage of this offer.
• This offer is limited to one checking account per tax ID#.
• Account must be opened and maintained in good standing for a period of 90 days from the opening date, (the introductory period) to qualify for each bonus.
• An account is considered to be in “Good Standing” if the balance remains positive and no overdrafts are incurred.
• To qualify for the $100 cash bonus, you are required to open a new Priority Checking account and make 10 debit card transactions per month for two (2) consecutive months.
• To qualify for the $200 cash bonus you are required to open a new Priority Plus Checking account and have qualifying direct deposit(s) totaling $500 per month for two (2) consecutive months.
• To qualify for the $300 cash bonus you are required to open a new Priority Platinum Checking account and have qualifying direct deposit(s) totaling $500 per month for two (2) consecutive months.
• Qualifying direct deposits are regular, periodic automated clearing house (ACH) credits, which may include payroll, salary, pension or government payments (such as Social Security).
• Transfers from another Savings Bank of Danbury deposit account do not qualify.
• The maximum amount any customer can receive is $300.
• Bonuses will be paid in the statement cycle following the first 90 days after qualifications have been met.
• Promotion compensation is considered taxable income and an IRS-1099 form will be issued.
• This offer is subject to change and to early termination without prior notice at any time.
• Other fees and restrictions may apply. Savings Bank of Danbury employees and their immediate families are not eligible for 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

• Priority Checking ($100 bonus). This account has no monthly fees
• Priority Plus Checking ($200 bonus). This account has a $12 monthly fee that is waived with a $1,000 balance.
• Priority Platinum Checking ($300 bonus). This account has a $20 monthly fee that is waived with a $2,000 balance.

Early Account Termination Fee

I wasn’t able to find any mention of any early account termination fee in the fee schedule.

Our Verdict

I think you either do the $100 bonus (to avoid the direct deposit requirement) or the $300 bonus as the $200 bonus seems a bit pointless (only advantage is it’s slightly easier to keep fee free). Last time we saw a bonus it was only for $150 so if you live in an eligible area I do think this one is worth doing and will add it to the best bank bonuses.

Hat tip to reader Bockrr

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