[NY only] Ulster Savings Bank $250 Checking Bonus

 

Update 10/15/22: Deal is back and valid until December 31, 2022. Only valid at their 4240 Albany Post Road, Hyde Park branch.

Update 1/5/22: Extended through March 30, 2022.

Update 12/11/21: Deal is back and available in more branches this time: Hyde Park, Poughkeepsie, Red Hook, New Paltz, Gardiner, Newburgh, Wappingers Falls and Kingston (Wall Street).

Offer at a glance

• Maximum bonus amount: $200
• Availability: Available at Hyde Park, Poughkeepsie, Red Hook, New Paltz, Gardiner, Newburgh, Wappingers Falls and Kingston (Wall Street)
• Direct deposit required: Yes, no minimum specified
• Additional requirements: None
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: June 1st, 2019 December 31, 2021 December 31, 2022

The Offer

Direct link to offer

• Ulster Savings Bank is offering a bonus of $200 when you open a new checking account and complete the following requirements:
  • Direct deposit required, no minimum specified

The Fine Print

• This offer is good for new personal checking accounts opened through December 31, 2021.
• Recurring payroll, social security or pension direct deposit must be active within 90 days of opening your new checking account in order to receive $200 bonus credit to your new USB checking account.
• You must be 18 years of age to open this account. Bonuses are considered interest and will be reported on IRS Form 1099-lNT.
• Offer available with new checking account relationships only.
• Offer does not apply to accounts opened online. Other conditions 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

I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee.

Our Verdict

Always nice to see a bonus with no monthly fees, it’s a shame the bonus is only available at that one branch. We’ve seen a $125 bonus from Ulster Savings Bank previously but that did require a direct deposit. If you live near a branch I do think this bonus is worth doing, if it’s a soft pull to open. Because you have to open this account in branch it should be possible to find out if it’s a hard or soft pull before opening.

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