This checking sign up bonus is no longer available. Click here to view the best current promotions.
Contents
The Offer
- You can receive up to $125 when you set up a personal checking account with South Shore Bank and completing some requirements. It’s broken down into $25 segments as follows:
- $25 for opening a new personal checking
- $25 for signing up for Direct Deposit
- $25 for signing up for Online Banking
- $25 for signing up for eStatements
- $25 when you close your old account
The Fine Print
- You must live in Massachusetts to enroll
- Minimum opening amount is $10
- You receive the $25 for closing an account when you fill out the account closure form and have a bank employee send it in for you,
- Bank account bonuses are treated as interest and as such you must pay interest on it
- Bonus for new checking account customers only, limited to one bonus per tax reporting owner
- Bonus paid 90 days after account opening
- Offer subject to change anytime
Avoiding Fees
South shore bank doesn’t publicly disclose their fee schedule, but we were able to determine the monthly fees but looking at their site.
Monthly Fees $0
The only account that comes with a monthly fee is the relationship checking account which has a monthly fee of $20. This can be waived if you have a combined balance of $20,000 or more in a checking, savings, money market, CD, IRA and balances outstanding in consumer loan products (excluding mortgages). All accounts can be compared by clicking here.
Early Account Termination Fee – Unknown
We’re unsure if they currently have an early account termination fee or not.
Our Verdict
Not much is known about this offer, because it has such a small eligibility area. I won’t be partaking in this offer because I don’t live within that area and there are too many unknowns. $125 isn’t a bad bonus, but it’s right on the fringes of whether it’s worth the effort or not. This is especially true when we don’t know if it’s a hard credit pull, whether it can be funded with a bank account or what counts as a direct deposit. If you do sign up for this offer, let us know in the comments and answer some of our basic questions!
This offer has been added to our bank account bonus page, it has too limited availability to make it to the best of list though.
Direct link to offer | Screenshot of offer
Is this a soft or hard pull? Do you know?
“This is especially true when we don’t know if it’s a hard credit pull”