[NJ] Blue Foundry Bank $300 Checking + $300 Savings Bonus

Offer at a glance

The Offer

Direct link to offer

  • Blue Foundry Bank is offering up to $600 in bonuses. Bonuses broken down as follows:
    • $300 when you open a Blue Axis Edge® Checking and receive a direct deposit of $500+ per month for six months
    • $300 when you open a Blue Axis Edge® Savings, deposit $15,000+ and maintain it for six months

The Fine Print

  • Only one bonus per tax id, per product. Blue Foundry Bank reserves the right to modify or discontinue the bonuses at any time.
  • Accounts opened online require eBanking enrollment.
  • Bonus is not available to existing Blue Foundry Bank Checking customers or customers that have closed their checking account within the last 12-months.
  • Bonus will be earned when account maintains a consecutive combined direct deposit of $500 or more each month during the 6-month (182 days) qualification period.
  • The direct deposit must be credited to the account within the first 60 days of account opening. Once the qualification period has concluded, the account will be credited the $300 bonus within 60 days.
  • For tax purposes, bonus will be reported on form 1099. 2 Unlimited ATM fee rebates apply to cash withdrawals using your Debit Mastercard® at all participating Accel and Cirrus ATMs worldwide.
  • ATM fee rebates do not apply to any fees other than those assessed for using an ATM to withdraw cash from your account. Blue Foundry Bank® makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from ATM operators.
  • Blue Foundry Bank reserves the right to modify or discontinue the ATM fee rebate at any time.
  • Bonus will be earned when a single deposit of $15,000 or more of new money is deposited into the account and the balance is maintained for a 6-month (182 days) qualification period. New money is defined as money not currently on deposit with Blue Foundry Bank.
  • Once the qualification period has concluded, the account will be credited the $300 bonus within 60 days.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

These accounts have no monthly fees to worry about.

Early Account Termination Fee

$10 fee if closed within three months. Account needs to be kept open for six months to get the bonus anyway.

Our Verdict

Savings bonus works out to be 6.8% APY when you add both the bonus and interest rate on the savings account (5% APY for the first $5k and then 1.75% for the next 10k), probably not worth considering due to other high interest accounts on the market. The checking bonus is annoying as it requires a direct deposit for six months.

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    William Charles
  • On February 3, 2024, 15:00
Tags: direct deposit requirednj bank bonuses

View Comments (80)

  • I just logged into my account and saw that I received both $300 bonuses.

    The bonus posted to my Checking account a little bit short of 6 months after I opened the account online. TD worked as a QDD.

    The bonus posted to my Savings account exactly 6 months after I opened the account in-branch. I funded my Savings account with $15K+ the same day that I opened it.

  • DP: Opened at the end of March, had real DD $500 twice a month every month since April. Received a $300 bonus at the beginning of October.

  • Anyone get their bonus yet? I opened end of Feb (checking only), made DDs March-August but nothing yet for me. My 182-day qualification period ended end of August, and the terms say they have 60 days after that to pay the bonus so for now I'll just wait.

  • Denied. OOS in Illinois but was targeted on Instagram, probably because my parents live in NJ and I'm there all the time. LOL/24 on Chex. Anyone successfully recon over the phone being OOS?

    • You should apply again in-branch the next time that you visit your parents. They are much more lenient in-branch than online. You can see my DPs in the comments below confirming this.

  • @guest_1888841 @guest_1872444

    I received a $25 Tango egc from BFB today. I checked my RAF page and it shows "1" by "Approved" and "$25" by "Issued".

    Unfortunately, I don't know who it is that used my link so I can't confirm or deny for @2 if that person also received the $300 bonus so it's still unknown if it's stackable, although I still think it is based on the terms of both offers.

    The good thing is that they seem to actually update their tracker correctly unlike On Tap.

    • Do you have DPs confirming it stacks? I couldn't find any.

      I wanted to use Eric's referral but with no evidence it stacks I decided not to gamble $300 for the possible extra $25.

  • No CC funding possible. They requested a Chex thaw and they pulled it. Also thawed all CRAs and they softed EX.

  • Applied yesterday and received denial notice today due to chex. Chex score 5/6, 15/12

  • @2,

    I just logged into my Blue Foundry account and saw a banner for a referral program. The details are at this link: https://bluefoundrybank.com/refer-a-friend

    There is nowhere that it is mentioned in the terms that this cannot be combined with the $600 offer in this post. The Refer A Friend page looks identical to the On Tap Refer a Friend page.

    It appears to work like ReferLive offers where the person signs up through the referral link and then can separately sign up for a checking account.

    The referral offer is a $25 gc to the referrer and the referee if person signs up for a checking account.

    Would you consider adding a referral post where we can post our referral links?

    • No. We generally only post when it's either clear it stacks or if there are multiple datapoints that it does stack. This site isn't really supposed to be for generating referrals.

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