Update 10/27/20: It’s now much easier to meet the requirements for the checking bonus and there is now a new money market bonus. Hat tip to reader KED
Offer at a glance
- Maximum bonus amount: $350
- Availability: Wisconsin only
- Direct deposit required: Optional, $300+ (will receive a $200 bonus)
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: 90 days, $30 fee
- Household limit: One
- Expiration date:
October 30th, 2017May 31st, 2018August 31st, 2018
The Offer
- Open a new free checking account at any WaterStone branch or online and receive a sign up bonus of up to $250, bonus is broken down as follows:
- Receive a qualifying direct deposit of $300 or more within 90 days of account opening & get $200
- Make 5 debit card purchases and get $25
- Enroll in eStatements and get $25
- Open a new money market account and get a $100 bonus when your money market account reaches $10,000 or more within 90 days of account opening for a statement cycle
The Fine Print
Checking bonus:
- $200.00 Cash Bonus when direct deposits of payroll or government benefits totaling $300.00 or more is deposited within 90 calendar days of account opening.
- Bonus will be credited to the new checking account on the first statement cycle after the direct deposit is received.
- A statement cycle may be from the 17th (a calendar day) of a month to the 16th (a calendar day) of the next month. To determine your statement cycle please ask your Personal Banker at the time of account opening. 1,000 ScoreCard® Rewards Bonus points when logging into ScoreCard® Rewards website for the first time.
- Reward points will be credited to your ScoreCard® Rewards account within 30 calendar days of account opening.
- A $25.00 e-statement bonus will be credited to your new checking account when e-statements are set up within the first 90 days of account opening.
- The reward is credited within the first statement cycle of the account receiving e-statements.
- A $25.00 debit card usage bonus will be credited to your new checking account when five (5) debit card purchases have posted and settled to the new checking account within one statement cycle (ATM transactions do not qualify) and within 90 calendar days of account opening.
Money market bonus:
- $100.00 cash bonus when the account reaches an average daily balance of $10,000.00 or more for a statement cycle within 90 days of account opening.
- Account must be open and active for 180 calendar days, or a $30.00 closing fee may be assessed at account closing.
- For tax reporting purposes, a 1099 form may be issued at year end for recipients of bonuses.
- A WaterStone Bank SSB (WSB) companion Universal Checking account is required to open the Money Market account.
Avoiding Fees
There are no monthly fees on this account, it does need to stay open for at least 90 days otherwise you’ll be charged a $30 early account termination fee.
Our Verdict
This bonus is now significantly better than it once was due to the requirements being lowered (before you need to have made a lot of debit card purchases to get the full bonus and spend a total of $1,200). The money market bonus is also worth doing. We will add this to our best bank bonus page.
Big thanks to reader, DrBooyah who let us know. Learn how to find bonuses and contribute to the site here.
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
Post history:
- Update 3/30/20: Deal is back, no end date listed. Hat tip to reader EW
- Update 06/06/18: Bonus is back and valid until August 31st, 2018. Hat tip to reader DrBooyah.
View Comments (43)
@2 Deal is back through 10/31. Best version is Universal Checking + Savings: $200 for $500 DD into Universal Checking within 60 days, credited the next statement cycle, $100 for $100 opening deposit into savings, credited within 60 days. Savings has $100 minimum average balance else $5/month fee, EATF before 180 days on both, cannot have had an account within the past 180 days.
Also the Universal Checking account has a $1000 minimum balance requirement, else $25/month fee.
I am OOS (MI). Spoke with CSR. They talk non-sense and say they only allow OOS to open up personal checking and not business accounts. I hung up and called a branch. Manager is going to email me documents for an account opening.
This offer is not for a business account so didn't the CSR give you good news?
Manager finally got back to me, said no go for OOS.
anyone push from something like Schwab or Capital One and receive the bonus?
anyone out of state or in chicago applied successfully?
Wondering the same. I live in Upper MI, close to WI.
I'm not seeing where this a fee free account. Both of their checking account options mention a monthly fee unless requirements are met.
Looks like we would need to do the "universal checking" account in order to be eliglble for the bonus. The checking account would require an average daily balance of $1000 to avoid fees. The money market account would require an average daily balance of $10,000 to avoid fees. Perhaps for the money market bonus it would be wise to eat the $30 early termination fee to avoid keeping $10k tied up for 180 days in an account that only pays 0.05% APY.
Is this “universal checking” account bonus available only for BRAVO program or everyone who applies this account?
Since I live in the north of Chicago and I’m super closed to Wisconsin, could I open these state specific bank accounts in WI?
Or
While traveling, could I open bank accounts where I travel in the states? Like Taxes or Cali?
I couldn't find an option on the page to apply. I did find a way to apply in the personal checking account menu option on their home page, however, it doesn't make any mention of the bonus.
I looked into this once before. I understood the Bravo program was not open everyone, but only to employees of employers participating in the Bravo program. Can anyone confirm?
I thought the same thing. I just called and Bravo is based upon your employer.So this would need to be a different program for the average person to do it.
@will Yeah I don't think this ought to be on the best bank account bonus page if your employer has to participate in the Bravo program.
https://www.wsbonline.com/bravo-program-benefits
Open by 11/15/2020
This one is different and seems easier. $200 bonus for $300 DD, $25 e-statement, $25 for 5 dc purchases in 1 statement cycle; Universal Checking, $1k daily balance until you can close account (6 mo)
Yeah there is a monthly fee. The bonus is only available for essential checking. and the essential checking has this:
"With 5 CheckCard purchases or more that have posted and settled to the checking account each statement cycle^ (ATM transactions do not qualify) or direct deposits of payroll or government benefits totaling $300.00 or more each statement cycle^; otherwise a monthly usage fee of $10.00 will be imposed."