[Expired] [MA, CT, ME, NH, RI, VT] Cambridge Savings Bank $200 Checking Bonus

Deal has expired, view the best current checking bonuses here.

Update 1/14/19: Deal is back and valid until March 31st, 2019. Hat tip to reader Rob.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must reside in MA, CT, ME, NH, RI, VT
• Direct deposit required: Yes, $1,000+ for three consecutive months
• Additional requirements: Yes, see below
• Hard/soft pull: Soft pull
• ChexSystems:Yes, looks to be ChexSystems sensitive as well
• Credit card funding: Can fund up to $1,000 with a Visa, Mastercard or Discover card (this is now a total limit, rather than per account)
• Monthly fees: None
• Early account termination fee: None
• Household limit: One
• Expiration date: October 31st, 2018 March 31st, 2019

The Offer

Direct link to offer

• Cambridge Savings Bank is offering a bonus of $200 when you open a new Simple, Performance, or Performance Plus personal checking account and complete the following requirements:
  • Receive monthly direct deposits totaling $1,000 or more for three consecutive months account opening
  • Complete three posted debit transactions (checks paid, debit card transactions and ACH debits) for three consecutive months following account opening

The Fine Print

• Earn $200 when you open a new Simple, Performance or Performance Plus Checking Account with a $10 minimum account opening deposit between 9/1/18 and 10/31/18 and complete the following requirements in each of the first 3 months after account opening: (1) Receive direct deposits totaling $1,000 or more. (2) Complete 3 posted debit transactions (checks paid, debit card transactions and ACH debits).
• You must not currently have a Cambridge Savings Bank checking account or have had one in the last 12 months.
• A $200 credit will be made to your checking account within 120 days of account opening as long as qualifications are met and account remains open in good standing.
• No minimum balance is required to receive the credit.
• The value of the credit will be reported to the IRS as interest.
• This offer cannot be combined with any other offers and may be withdrawn at any time.
• One offer per household.
• All other rules and regulations for checking accounts apply.

Avoiding Fees

Monthly Fees

Simple checking account has no monthly fees to worry about

Early Account Termination Fee

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

Our Verdict

Earlier in the year they were offering a $175 bonus, but with no requirements to get the bonus. It did require an account that had a monthly fee, but that was easily avoidable. Keep in mind the fine print states you can’t do this current offer if you’re a current account holder or have held one in the last 12 months. I think that old offer was better as it didn’t require direct deposit or debit transactions and was only $25 less. This offer might be worth considering if you missed out on that offer though as who knows when a better offer will be back (or if one will come back at all). I’m unsure if I will be adding this to the best checking account bonuses due to the previous better offer, let me know in your comments below. Also please keep in mind that they are ChexSystems sensitive.

Big thanks to all the readers who sent this in, sorry it took me so long to get to

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