[MA, CT, RI, NH, VA, ME only] South Shore Bank $200 Checking Bonus

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Update: Seems to be available in Massachusetts, Connecticut, Rhode Island, New Hampshire, Vermont, and Maine

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: MA, CT, RI, NH, VA, ME
  • Direct deposit required: Yes, $1,000+
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $250
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: One
  • Expiration date: December 31, 2020

The Offer

Direct link to offer

  • South Shore Bank is offering a $200 checking bonus when you open a new checking account and complete the requirements:
    • Receive a direct deposit of $1,000+ within the first 90 days of account opening

The Fine Print

  • South Shore Bank employees not eligible for the promotion. One new account per household, must be 18 years old or older.
  • Promotion valid through December 31, 2020. Offer is subject to change without notice. These offers are available online for applications completed using the “Apply Now” button on this webpage, or if media campaign and promotion code are mentioned in branch. Applications submitted through other pages on the website will not qualify. Qualifying criteria must also be met to receive the $200 bonus. If a prospect decides to open a different checking account online and mentions the campaign, they will still receive the bonus. Excludes Student Checking and all Business Checking accounts.
  •  To receive the $200 cash bonus applicants must open and use a new Free Checking account with direct deposit totaling $1,000 or more within the first 90 days of account opening. A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security, or other regular monthly income electronically deposited by an employer or an outside agency into the new Free Checking account.
  • Upon requirement completion, South Shore Bank will deposit the $200 bonus into your new account within 30 days after the initial 90 days.
  • Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
  • New account will not be eligible for offer if any signer has signing authority on an existing South Shore Bank consumer checking account or has closed a checking account within the past 6 months. Fees and charges may apply, please consult with a South Shore Bank representative for details.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer a free checking account with no monthly fees to worry about.

Early Account Termination Fee – Unknown

We’re unsure if they currently have an early account termination fee or not.

Our Verdict

Given it’s a soft pull and there is a small amount of credit card funding this one is worth doing. Will be added to our list of the best bank account bonuses.

Hat tip to reader nurglefish

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