Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â Must be opened in branch, branches are in NJ & PA [Branch locator]
- Direct deposit required:Â Yes, $500 minimum
- Additional requirements:Â None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding:Â UnknownÂ
- Monthly fees:Â None
- Early account termination fee:Â $100, six months
- Household limit:Â None
- Expiration date:Â None listed
Contents
The Offer
- The Bank of Princeton is offering a bonus of $100 when you open a new Wise Checking Account and complete the following requirements:
- Have Direct Deposit of a Payroll or Social Security check with a minimum of $500.00 made to Wise Checking Account within 60 days of account opening
The Fine Print
- Offer valid on NEW MONEY ONLY. New money cannot be funds held at The Bank of Princeton prior to the opening of this promotional Wise Checking account.
- To receive the exclusive $100.00 Wise Checking Bonus: 1) Open new Wise Checking Account, which is subject to approval; 2) Deposit minimum $50.00 at account opening; 3) Have Direct Deposit of a Payroll or Social Security check with a minimum of $500.00 made to Wise Checking Account within 60 days of account opening.
- Limit 1 Wise Checking account per Tax ID.
- The Bank will deposit the $100.00 promotional bonus to the Wise Checking Account within 30 business days after the initial direct deposit of a minimum of $500.00 posts to the account.
- If Wise Checking Account is closed by the customer or The Bank of Princeton within 6 months after opening and the $100.00 promotional bonus has been deposited into the account, the Bank will deduct the $100.00 promotional bonus from the account at account closing.
- Wise Checking Offer begins 9:00 AM EST on June 17, 2019; subject to change or cancellation without notice.
- Other terms and conditions may apply. Wise Checking Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Wise checking has no monthly fees to worry about.
Early Account Termination Fee
Account needs to be kept open for six months otherwise the bonus of $100 is forfeit.
Our Verdict
Worth doing if you live near a branch, just keep in mind they are somewhat Chexsystems sensitive so if you’ve opened more than 7-8 accounts in the last 12 months I’d give this one a miss. I will still add this to our best bank account bonus page.
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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
I was going to bounce this thread since the offer is still available but after reading the comments I won’t touch it!
Worst Bank in the world. The Chinese woman in the Chinatown branch, Philly was so bitchy. A frog in the well!
Strongly suggest removing this from the best bank account bonus page. Fake ads. Extremely bad experience. Feel it ironic and sad that such a bank dares to name after ‘Princeton’.
They asked for at least one-time $500+ dd every 30 days or even every week (as they stated they have customers doing it every week!), for at least 6-7 months, and they wanted you to do so consecutively for 1 or 2 years, plus you need to use it frequently, threatened otherwise your bonus will be withdrawn.
The bankers are unprofessional. They would ask you if you’re for the bonus at the very beginning and became very unhappy and indifferent if they thought it true, whatever you claimed. They made many mistakes when processing everything, wasting your time doing things again and again. They gave you the brochure with the same conditions as posted in this post, but only when you’re gonna open an account they’ll tell you they require a monthly large amount of dd, and deny their ads (posted everywhere in the branch) are misleading or cheating. If you dare to complain about it, they threaten to call the police :-).
A $100 bonus is never worth spending even one second in such a bank.
Even worse, after I opened it, I found the account type is wrong and they didn’t inform me until after one month. After contacting customer service they told me the only way I can change or close account is going to branch.
Run, son, run as far as possible from the worst bank and the shame of NJ.
Due to COVID-19, I had to make an appointment in advance (two days from now) to open an account in branch. The banker let me know about another offer at certain new locations in PA and NJ (I’m in Philadelphia) for a 5% CD for $500-$1000. I don’t know if I’ll do it, but I know it’s unusually high for a CD these days, so I thought I’d mention it.
Nothing to see here, kids. No credit pull but very Chex-sensitive: My 43 Chex inquiries (over lifetime?) freaked the banker and the branch manager out. I was told even the 8-9 inquiries so far this year alone would have required back-office approval to open the account. Also, they want to see the SSN card as a second form of ID and want to see the Permanent Resident Card (Creen Card) or the Visa if not a citizen.
Well then. Definitely won’t attempt this now. Thanks for the DP.
So what did you say when they asked about all the Chex hits?
Initially I was given the impression that there’s 43 inquiries in the last year alone, which does sound excessive, so I asked to get a copy so I could dispute it with Chex to set the record straight. After I realized it’s probably over lifetime or otherwise a much longer timeframe than just the last 12 months, I told them it’s not really that mind-boggling when spread over a timespan of over a decade, given the interest rate changes and the fact I’ve been rate-chasing from bank-to-bank. The banker just kept saying that’s the most inquiries she’s ever seen, and eventually that the 8-9 inquiries this year alone (many banks don’t even do Chex, or their minds would’ve been blown even worse, haha) means I’ve been [“flirting with” (my words)] different banks. In hindsight, I probably offered too much information to no avail, because almost certainly nothing is going to change their mind, including their back-office’s: They seem to want “loyalty”, which simply doesn’t come standard with the churning crowd. FWIW, there’s a sign of this offer displayed on a cardboard outside the branch, and the banker brought up the $500 DD requirement like it’s a difficult deal.
If I’m not mistaken, I think the Chex report only shows activity for the past 3 years.
But anyway, yeah they would’ve denied you in any case it seems like.
I’ll see if I can attempt this. I’m not worried about the DD since I can use my employer. Just hoping they aren’t Chex sensitive.
FYI, They don’t seem to care as much if you’re inside of a branch.
I opened a business checking account just to qualify for PPP for an organization back in ’20.
Also, if you have an existing checking, they supposedly don’t pull Chex for a second checking account. (e.g., if you’re selecting one of the branches with the 5% CD promotion. You’ll be required to open a new checking account, but supposedly they don’t request Chex as long as you have at least one checking account open)