[Expired] [MA, CT, ME, NH, RI, VT only] Cambridge Savings Bank $175 Checking Bonus – No Bonus Requirements

It seems like this bonus is no longer available, click here to view the best current checking bonuses.

Offer at a glance

• Maximum bonus amount: $175
• Availability: Must reside in MA, CT, ME, NH, RI, VT
• Direct deposit required: No
• Additional requirements: None
• 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 limit is per account ;))
• Monthly fees: $10, avoidable
• Early account termination fee: None
• Household limit: One
• Expiration date: None listed

The Offer

Direct link to offer

• Cambridge Savings Bank is offering a $175 checking bonus when you open a performance checking account ($25 minimum opening deposit) or performance plus checking account ($50 minimum opening deposit). The best bit is that there is no requirements to receive the bonus apart from opening the account.

The Fine Print

• Offer good for new to bank checking customers only.
• Open a Performance Checking Account or a Performance Plus Checking Account and we will credit your account within 90 days.
• The Performance Checking Account has a $25.00 minimum account opening deposit. The Performance Plus Checking Account minimum account opening deposit is $50.00
• The checking account must be open for 90 days and also must be open in order to receive credit.
• No minimum balance is required to receive the credit.
• The value of this credit is $175.00 and will be reported as interest.
• Offer is valid as of 3/1/2018 and may be withdrawn at any time
• This special offer cannot be combined with any other offer.
• One offer per household. All other rules and regulations for checking accounts apply.
• Please refer to the Understanding Your Deposit Account Handbook and Personal Fee Schedule for more details.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Performance Checking

This is the easier of the two accounts to keep fee free. It has a $10 monthly fee that is waived if you have an average monthly balance of $1,000 in your checking account or if your combined checking, savings, money market CD and IRA balances are $2,500 ro more.

Early Account Termination Fee

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

Our Verdict

They have offered business checking bonuses of up to $300 in the past, but never any personal bonuses. Given that there is no bonus requirements and it’s pretty easy to keep the account fee free this seems like a great bonus. Unfortunately it looks like they are ChexSystems sensitive, people with over 15 inquiries have all been denied. That being said this is an offer for the personal account and it is available online, so it is possible they are not being as strict. If anybody applies please let us know if you were approved/denied and how many ChexSystems inquiries you have in the last 12/24 months.

Big thanks to reader, Alan who let us know. Learn how to find bonuses and contribute to the site here.

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