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Offer at a glance
- Maximum bonus amount: $150
- Availability: Must be a ME resident
- Direct deposit required: Yes, see below
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $500, Visa or Mastercard only
- Monthly fees:
- Early account termination fee: $25, six months
- Household limit: None listed
- Expiration date: November 15th, 2019
Contents
The Offer
- Camden National Bank is offering a bonus of $150 when you open a new checking account. Bonus is broken down as follows:
- Receive a $50 bonus when you make 10 debit card purchases during your second statement cycle
- Receive a $50 bonus if you have direct deposits totaling $500 during your sixth statement cycle
- Receive a $50 bonus if you have direct deposits totaling $500 during your twelfth statement cycle
The Fine Print
- You must open a new Promise Rewards Checking account ($25 minimum opening deposit) between August 26, 2019 – November 15, 2019, and be a Maine resident at account opening.
- Employees of Camden National Bank are not eligible.
- No signer on the account may be, or have been a signer on a Camden National Bank consumer checking account within the past 12 months.
- If you make 10 debit card point-of-sale transactions that post and clear your account in the 2nd statement cycle, a $50 bonus will be paid within 60 days of meeting requirements
- . If you have direct deposits totaling $500 or more of your payroll, pension or government benefits, such as Social Security, during the 6th statement cycle, a $50 bonus will be paid within 60 days following your 6th statement cycle.
- If you have direct deposits totaling $500 or more during the 12th statement cycle, a final $50 bonus will be paid within 60 days following your 12th statement cycle.
- To be eligible for cash-back rewards, you must sign up for eStatements and have direct deposits totaling $500 or more, of your payroll, pension or government benefits, such as Social Security.
- If you’re enrolled in eStatements, at the end of each statement cycle you will be paid a $0.20 cash-back reward for every qualifying debit card purchase and direct deposit that posts to and clears your account until 3/31/2020, after which you will earn $0.10 cash-back rewards.
- Account bonuses and rewards are reported to the IRS as interest income.
- Account must be open and active to earn bonus and rewards.
- Cash-back rewards limited to $30 per statement cycle.
- This cannot be combined with any other offer.
- Other terms and conditions may apply; please contact the bank for further details. Limited-time offer, subject to change.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The promise rewards checking account has no monthly fee to worry about.
Early Account Termination Fee
There is an early account termination fee of $25 if you close the account within 6 months of account opening.
Our Verdict
They have offered a $300 bonus before and a $100 bonus with no direct deposit required. This bonus is a pain to complete the requirements for and isn’t particularly big either. Because of that and the fact we’ve seen a much bigger offer before we won’t be addig this to our list of the best bank account bonuses.
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?
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- Bank Bonus Posting Times
View Comments (1)
I signed up for this account when the bonus was $300. I've since kept it for the $0.15 back on small transactions / ATM refunds and eventually turned it into my main bank account. For me Camden is a bank but has acted like a credit union reaching out personally for small things, like birthdays and the even sent me a hat when I took a survey providing feedback. If you are looking for a good long-term bank this would be it IMO and the bonus just adds to it if you look at it that way.