As I was reviewing the online newspaper ads today, I came across this bonus at Belmont Savings Bank. It's offering a $100 bonus for opening its PlatinumBlue Checking Account. The ad was published on 1/7/2011, and it's available online here. More details about this checking account are listed in this bank's web page. The only mention of the bonus at this bank page is in the small print which is the same as the ad's small print. This is shown below:
To earn the $100 you must enroll in online banking, or apply for a debit card or create a direct deposit. A $250.00 minimum deposit required to open an active PlatinumBlue Checking Account. To avoid a $25.00 monthly service charge, a $2500 average daily balance is required on the account or the account must be an active account. Each statement cycle the PlatinumBlue Checking account is nonactive all ATM surcharges for that statement cycle will apply. PlatinumBlue Checking is considered active with $2,500 average daily balance or direct deposit or 5 debit card POS (pinned or signature) transactions or 5 third party cleared checks pre monthly statement cycle.
It looks like it's easy to qualify for the bonus, but you do have to be careful to avoid the monthly service charge. If you don't want to maintain $2,500 balance, you'll have to keep it active with either direct deposit, 5 debit card purchases or 5 third party cleared checks. One perk for keeping the checking account active is that they refund all ATM surcharges.
It's a small bank with branches in the Boston suburbs of Belmont and Watertown.
The bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 3.47% (excellent) based on September 2010. Please refer to our financial overview of Belmont Savings Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 23901).
Other Bank Bonuses
To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus blog posts. Some additional bonuses are also listed in the checking account deals section of the discussion forum.