Extended to 11/30
Offer at a glance
- Maximum bonus amount:$300
- Availability:Â Wisconsin only
- Direct deposit required:Â Yes
- Additional requirements:Â See below
- Hard/soft pull:Â Soft pull
- ChexSystems:Â Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â Avoidable
- Early account termination fee:Â 180 days, bonus forfeit
- Household limit:Â One
- Expiration date:Â 10/31/24
Contents
The Offer
- WaterStone Bank is offering a bonus of up to $300. Bonus is broken down as follows:
- Open a new checking account with direct deposit to earn $200
- Add on a new savings or money market account and get an extra $100. Must deposit $5,000 at opening
The Fine Print
- $200.00 Automatic Deposit bonus offer requires a $500.00 minimum recurring automatic deposit of payroll or government benefits to be received within 60 calendar days of account opening and will be credited to the checking account on the first statement cycle* after the direct deposit is received. A $200.00 payback fee will be imposed if the checking account is closed within 180 calendar days of account opening. Fees may reduce earnings. Offer applies to new checking account customers only, is redeemable at any branch location, cannot be combined with other offers, is limited to one per household, and does not apply to individuals that closed a WSB checking account within the past 180 calendar days.
- $100.00 Money Market Account Bonus requires $5,000.00 or more opening deposit and a Universal checking account to receive bonus. Bonus will be credited to the money market account within 60 calendar days of account opening. A $100.00 payback fee will be imposed on your money market account if either the money market account or Universal checking account is closed within 180 calendar days of account opening.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
- Universal Checking has $1000 minimum average balance else $25/month fee
- Savings has $100 minimum average balance else $5/month fee
Early Account Termination Fee
If account is closed within 180 days you forfeit the bonus.
Our Verdict
Not a bad deal if you live in an eligible area.
Hat tip to reader TonyBank
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
This is still active on their site? not sure if this is actually expired, maybe extended? Offers | WaterStone Bank don’t see a new date
Maybe I should’ve read the other comment, he also called out date changed
Applied 10/15 with Chex frozen, called 2 days later after no response & they required me to unfreeze Chex. Was approved at 7/1 12/2 17/3+, so not at all sensitive. There was no funding option, but I was told over email that the first transfer into the account from externally would satisfy the opening deposit requirement for the savings account. Will use real DD next month for the checking bonus.
Main annoyance will be holding $1100 with them for half a year before the EATF passes, but definitely worth the bonus. The money market bonus expired 10/19 and they haven’t updated it, the savings bonus initially expired on 10/31 but they’ve extended it to 11/30.