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, 2019December 31, 2021December 31, 2022
Contents
The 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.
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
View Comments (9)
How come I’m seeing $250?
4hr round trip, p1 & p2, is it worth the effort?
Only if you stop for a walk at the Poughkeepsie walking bridge!
Bonus is now $250
No language to indicate if only a single direct deposit is sufficient (aside from the "Recurring...direct deposit must be active within 90 days..."). Also doesn't indicate when the bonus will be paid out. Anyone know for either of these? Thanks everyone.
Ended up calling to ask about the specifics and was told the following:
-Bonus will pay out only after 2nd DD, no real time frame specified for payout
-Must be entire DD, not partial amount (not sure how they'd really be able to know unless it was a very, very low amount)
Offer does not apply to accounts opened online.
Good luck lol
Deal is back and expires 12/31/19
Unbelievable far from NYC... And very few branch
Direct deposit required. "New" checking relationships only. Not sure what "new" means if you've had an account in the past. They do offer a free account.