[Expired] [MA, NH, ME, CT, VT and RI] HarborOne Bank Up To $500 In Checking Bonuses

This bonus has expired and is no longer available. View the best checking bonuses here.

Update 01/09/18: Bonus has been extended until February 28th, 2018

Reposting because the offer has been extended.

Offer at a glance

• Maximum bonus amount: $500
• Availability: MA, NH, ME, CT, VT and RI
• Direct deposit required: Yes, $2,500-$10,000
• Additional requirements: 15 debit card transactions
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: Up to $500 (this is a hard limit per application, doesn’t matter if you have two accounts in same application or not)
• Monthly fees: None
• Early account termination fee: None
• Household limit: None
• Expiration date: April 29th, 2017 June 30th, 2017 October 31st, 2017 December 31st, 2017 February 28th, 2018

The Offer

Direct link to offer

• HarborOne Bank is offering checking bonuses up to $500. There are three seperate bonuses:
  • $150 bonus when you set up a recurring direct deposits totaling $2,500 or more and make 15 debit card POS withdrawals (post and clear) within 60 days of opening an account
  • $300 bonus when you set up a recurring direct deposits totaling $5,000 or more and make 15 debit card POS withdrawals (post and clear) within 60 days of opening an account
  • $500 bonus when you set up a recurring direct deposits totaling $10,000 or more and make 15 debit card POS withdrawals (post and clear) within 60 days of opening an account
• If you’re having trouble opening, this comment is helpful: “Weird thing when I opened the account, it defaulted to opening a CD with minimum deposit of $1000. I had to close out the app, log back into the application and at the bottom select the iChecking product.”
• Note: When they say recurring they mean it. See this datapoint.

 

The Fine Print

• Offer available 3/1/2017-4/29/2017 6/30/17 8/31/2017. 12/31/2017
• Once the offer criteria is met, the bonus will be credited into the new personal checking account no later than 80 days from account opening.
• Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits (such as Social Security) from your Employer or the Government. Person-to-Person and bank transfers between your existing HarborOne bank accounts or accounts you have at other financial institutions or brokerages do not qualify.
• Account must remain open, active, in good standing, and in the same product type through the 60 day period from account opening to receive the bonus for all noted offers above.
• Offer is not available to current or former HarborOne customers who have a HarborOne personal checking account within the last 90 days.
• Offer only available to residents of: MA, NH, ME, CT, VT and RI.
• To receive the $150 checking bonus: 1) Open any new eligible HarborOne personal checking account; 2) Make 15 Debit POS withdrawals that must Post and Clear within 60 days of account opening AND 3) Receive direct deposits totaling $2,500 or more made to this account within 60 days of account opening.
• To receive the $300 checking bonus: 1) Open any new eligible HarborOne personal checking account; 2) Make 15 Debit POS withdrawals that must Post and Clear within 60 days of account opening AND 3) Receive direct deposits totaling $5,000 or more made to this account within 60 days of account opening.
• To receive the $500 checking bonus: 1) Open any new eligible HarborOne personal checking account; 2) Make 15 Debit POS withdrawals that must Post and Clear within 60 days of account opening AND 3) Receive direct deposits totaling $10,000 or more made to this account within 60 days of account opening.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

You can open the Free Plus Checking account and still qualify for this bonus, this account has no monthly fee. I wasn’t able to find any early account termination fee in the fee schedule.

Their iChecking account has a $5 monthly fee, this is waived if you have a minimum daily balance of $500+.

Our Verdict

Very large bonus, obviously direct deposit is going to be a challenge (especially at the $10,000 level), the good thing is that the direct deposits need to total that amount within 60 days so you can have multiple direct deposits. They also say they are going to monitor accounts, so this likely needs to be a true direct deposit. This is one of the best checking account bonuses if you’re able to meet the requirements with your paycheck as it’s a soft pull and you can fund with a credit card and it’s a high maximum bonus of $500. In addition no need to worry about any early account termination fees.

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

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