[Expired] [MA, NH, ME or RI] Eastern Bank $250 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $250
• Availability: MA, NH, ME or RI
• Direct deposit required: Yes, $3,000+
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes, sensitive
• Credit card funding: No longer available
• Monthly fees: None
• Early account termination fee: None
• Household limit: One
• Expiration date: October 19, 2020

The Offer

Direct link to offer

• Eastern Bank is offering a bonus of up to $250 when you open a new checking account. The bonus you receive depends on the total direct deposits you receive within 90 days of account opening:
  • Cumulative direct deposits of $1,000-$2,999.99: $150 bonus
  • Cumulative direct deposits of $3,000+: $250 bonus

The Fine Print

• Open your account by October 19th, 2020. A minimum opening deposit of $25 is required for Eastern Free Checking, $50 for Eastern eZ Checking or $500 for an Eastern Premier Checking account.
• To qualify for the incentive, you must open an Eastern Bank personal checking account between 09/14/2020 and 10/19/2020 and have two or more payroll, pension, or government direct deposits totaling the amounts noted in the table below post to your new checking account within the first 90 calendar days of account opening.
• Electronic credits other than payroll, pension or government benefits, such as person-to-person payments, transfers between your accounts at Eastern Bank and other institutions or brokerages, and payments through third parties such as Paypal or eBay do not qualify as a “direct deposit.” Incentive amount will vary. See the table below for details.
• The amount of the incentive paid will be based on two or more direct deposits, totaling the amounts listed below, posted to your account within the first 90 calendar days of account opening:
• This offer is valid for new consumer checking account customers, only.
• New customers are primary signers who have not had a consumer checking account since 09/14/2019.
• The account must also meet the following requirements 90 calendar days after the account open date to receive an incentive (if the 90th calendar day falls on a non-business day, the requirements must be met on the following business day): (a) Primary signer must reside in MA, NH, ME or RI; (b) Primary signer must be age 18 or older; (c) Account must be open and have a positive balance. Incentives for qualified accounts will be deposited into customer’s account no later than 30 calendar days after confirmation that the account has met all the requirements.
• No incentive will be paid if the account is closed on the date we attempt the deposit.
• The Bank may, at its discretion, pay the incentive earlier if all the qualifying requirements have been met.
• Only one incentive per customer and one incentive per household as defined by a common address.
• Customer will receive a 1099 form for this incentive. Please consult your tax advisor regarding the tax implications of this offer. Other qualifications and restrictions may apply.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

There is no early account termination fee

Our Verdict

We saw a $350 bonus with smaller requirements earlier in the year. Because of that I would wait for a better bonus to return and we won’t be adding this to our list of the best checking bonuses.

Hat tip to reader Lisa & Arun

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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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