Update 6/12/21: Bonus increased to $250 and requirements are easier. Hat tip to reader Kamil Sultan
Offer at a glance
- Maximum bonus amount: $250
- Availability: MA or CT
- Direct deposit required: Yes
- Additional requirements: eStatements
- Hard/soft pull: Unknown
- ChexSystems: Unknown, Chexsystems sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None
The Offer
- Florence Bank is offering a bonus of up to $225 when you open a new checking account and complete the following requirements within 60 days of account opening:
- Use promo code CH250 at account opening
- Sign up for eStatements and get a $200 bonus
- Receive a direct deposits and get a $50 bonus
The Fine Print
- Open a new Florence Bank personal checking account at our Springfield or West Springfield Branch or Online using Promo Code “225” and earn a $100 bonus when you enroll in eStatements.
- Earn an additional $100 bonus when you have at least $400 in direct deposits cumulatively post to the new account. (The bonus amounts do not count toward the $400.)
- Earn another $25 bonus by downloading and logging in to the Florence Bank Mobile App at least once.
- Conditions must be met within 60 days of account opening.
- Each cash bonus will post to your new account after each condition is met and may take up to 75 days from the 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
All checking accounts they offer have no monthly fee to worry about.
Early Account Termination Fee
According to the fee schedule there doesn’t seem to be any early account termination fee.
Our Verdict
They have offered a very similar bonus in the past as well, but that required singing a song instead of mobile banking. Seems like a good bonus if it turns out to be a soft pull. If anybody goes for this bonus then please share your experiences in the comments below.
Hat tip to reader Ryan M
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
