[MA only] Reading Cooperative Bank $100 Checking Bonus

Update 2/13/22: Extended until 12/31/22. Hat tip to reader snailrock

Update 3/20/21: Extended until 12/31/2021. Hat tip to NH4NO3

Offer at a glance

Maximum bonus amount: $100
Availability: MA only [Branch Locator]
Direct deposit required: Yes, $300+
Additional requirements: eStatements and at least one mobile or online banking bill payment
Hard/soft pull: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: $25, six months
Expiration date: ~~December 31st, 2016 December 31st, 2018~~ ~~December 31st, 2019~~ December 31st, 2020

The Offer

Direct link to offer

Receive a sign up bonus of $100 when you open a new eligible checking account with Reading Cooperative Bank and complete the following requirements:
- $50 when you set up a qualifying direct deposit of at least $300 within 60 calendar days of account opening
- $50 when you enroll for online banking with bill pay and complete at least one online payment within 60 calendar days of account opening

The Fine Print

50/50 incentive bonus offer is available for the following eligible accounts with a $10 minimum opening deposit: Value Checking, Value NOW Checking (Must maintain a minimum balance of $10 to earn Annual Percentage Yield of .01%), On-the-Go Checking, and Green Online Checking, and Green On-the-Go checking. Opening deposit must be a new money deposit (not a transfer from an existing Reading Cooperative Bank account)
To receive a $50 incentive bonus for establishing direct deposit (Direct deposit include deposits made by your employer, or a federal or state government agency or retirement benefits administrator, and generally, made by corporations or other organizations. It does not include deposits to your accounts that are made by an individual using online banking or an internet payment provider such as PayPal.), you must establish a recurring electronic deposit of no less than $300.00 to the account and have received at least one instance of the electronic deposit within 60 calendar days of account opening
To receive a $50 incentive bonus for online bill payment you must enroll in on-line banking with the bill-pay feature and initiate a successful on-line bill payment through Reading Cooperative Bank’s online banking system or mobile banking system within 60 calendar days of account opening.
The incentive bonus will be deposited to the associated checking account within 60 days of completing one or both of the required activities associated with incentive. Each incentive is independent of the other. You may complete one or both of the required activities.
The maximum incentive bonus is $100.00
This offer may not be combined with any other offers.
The incentive bonus is limited to one per primary account holder.
Account must be in good standing at the time of payment; an account is considered to be in good standing if it has a positive balance and is not in the process of being closed.
This offer may be withdrawn at any time without notice.
Valid 3/1/2016 – 12/31/2016.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Their green online account does not have any monthly fees, unfortunately you can only open that account in branch. There is a $25 early account termination fee if the account is closed within six months of account opening according to the fee schedule.

Our Verdict

We don’t know enough about this bonus to say whether it’s a good deal or not. If you can fund with a credit card and it’s a soft pull, then it probably is. Otherwise, probably not. If anybody has any personal experiences, then please share them in the comments below so that we can update this post. As always, view bonuses we do recommend here.

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