St. Mary’s Bank $300 Checking Bonus

Update 7/1/24: Extended until December 31, 2024.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide with $5 nonrefundable fee. Seems difficult to get approved out of New Hampshire
• Direct deposit required: Yes, two totalling $1,000+
• Additional requirements: Use promo code
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: $20 if closed within six months
• Household limit: None
• Expiration date: June 30, 2024

The Offer

Direct link to offer

• St. Mary’s Bank is offering a bonus of $300 when you open a new checking account and complete the following requirements:
  • Use promo code GET300
  • Open a St. Mary’s Bank statement savings account at the same time
  • Add at least two qualifying recurring direct deposits1 totaling $1,000 or more to your new checking account within 60 days from account opening

The Fine Print

• Actions required to qualify for the $300 deposit:
  • (a) Open both a personal checking account and a personal savings account at the same time.
  • (b) Open both accounts on or before June 30, 2024.
  • (c) Have at least two direct deposits totaling $1,000 or more post to your new checking account within 60 days of account opening. 
• Direct deposit is recurring income electronically deposited into your St. Mary’s Bank checking account by an employer or other organization. It may include salary, pension, government benefits, or other eligible regular income. Certain money transfers, such as person-to-person payments and payments made with apps such as Zelle®, PayPal, or Venmo, do not qualify as direct deposits. Transfers between your accounts at St. Mary’s Bank or other banks or brokerages also do not count as direct deposits.
• A minimum deposit of $10 is required to open a St. Mary’s Bank checking account and $10 to open Beyond statement savings.
• This offer is available to individuals opening their first St. Mary’s Bank checking account. If you have been a primary or secondary holder of a St. Mary’s Bank checking account on or after January 1, 2023, you are not eligible for this bonus. You will not receive the bonus if your account is in default, closed or suspended, or otherwise not in good standing. Limit one bonus per member during the promotional period, regardless of the number of new checking accounts are opened.
• To be eligible for the $300 bonus, the account must meet these requirements within 60 calendar days after the account opening date. If the 60th day is not a business day, then these requirements need to be met by the next business day:
  • (a) The primary account holder must be at least 18 years old.
  • (b) All deposit accounts must be active and in good standing when the bonus is paid.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Beyond checking has no monthly fee to worry about.

Early Account Termination Fee

According to the fee schedule there is a $20 fee if closed within six months.

Our Verdict

There was a $100 bonus in the past, most of the comments seem to suggest it’s difficult to get approved unless you live in New Hampshire. Still a good bonus that is worth doing and we will add it to our list of the best bank account bonuses.

Hat tip to reader Peek

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