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Avidia Bank0.05%--Value NOW Checking
Avidia Bank0.00%--Smart Checking
Accounts mentioned in this post. Rates as of August 28, 2014

$200 Checking Account Bonus at Avidia Bank


Avidia Bank

Avidia Bank is offering a nice cash bonus to new checking account customers. You can earn up to $200 for opening a checking account and for using some of its banking services. The full $200 can be earned without direct deposit. The qualifying checking accounts are the Smart Checking and the Value NOW Checking. The Smart Checking is a free checking account with no monthly service charges. Once the checking account is opened, you can earn $50 for each of the following services:

  • Sign up for eStatements
  • Have a Direct Deposit or other ACH Transaction
  • Use your Avidia Bank debit card 5 times
  • Enroll in Online Banking with Bill Pay and pay one bill.

Full details are listed in the bank’s offers page as of 4/14/2014. I don’t see an expiration date. I would assume it’s a limited time offer. Below is a copy of the offer’s small print:

New checking account customers only. Promotion applicable on Smart or Value NOW checking accounts only. Primary signer on the new checking account may not be or have been a primary or secondary signer on any personal checking account within the previous six (6) months.

You will earn $50 for each of the bonus requirements satisfied and the sum of the bonuses will be deposited into your checking account. The value of the bonus will be reported to the IRS on form 1099-misc. Offer can be withdrawn at any time. Your account must be open and in good standing on the date of deposit to qualify for this offer.

Checking Accounts Review

Out of the two checking accounts that qualify for this bonus, the Smart Checking is the best one in my opinion. It’s a free checking account so you don’t have to worry about maintaining a minimum balance to avoid monthly service fees. The minimum initial deposit is only $10, and the first set of checks is free.

The other qualifying checking account is the Value NOW Checking. Avidia describes this as their "high interest checking account with checking rewards." However, the interest rate is only 0.05% as of 4/14/2014. As is typical with an interest checking account, there are monthly service fees. However, the fee can be avoided by either maintaining an average daily balance of at least $1,000 or maintaining a recurring monthly ACH or direct deposit.

Avidia Bank also offers a reward checking account called eChecking that has a 1.06% APY for balances up to $25K as of 4/14/2014. Unfortunately, this account isn’t listed as one that will qualify for the checking account bonus.

Availability - Parts of MA

Update: Readers have reported being told that this promotion is limited to Massachusetts, and it may be further limited to certain zip codes in MA.

There’s an online application link for each checking account in the bank’s offers page. The application allows people from any state to apply. I called the bank, and I was told people from any state should be eligible for this bonus. The customer service representatives didn’t make me feel 100% confident about the national availability. So if you are told something different or are rejected in the application process, please leave a comment.

Bank Overview

Avidia is a sizable mutual community bank with over $1 billion in assets. It was formed in 2007 as a result of a merger between Hudson Savings Bank and Westborough Bank. Its headquarters is located in Hudson, Massachusetts, and it has branches in Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough and Shrewsbury.

The bank has an overall health grade at of a B+ with a Texas ratio of 11.76% (above average) based on December 2013 data. Please refer to our financial overview of Avidia Bank for more details. The bank has been a FDIC member since 1985 (FDIC Certificate # 90215). Customers are insured by the FDIC to at least $250,000, and all deposits above the FDIC insurance amounts are insured by the DIF which is a private insurance fund that insures all deposits above FDIC limits at Massachusetts-chartered savings banks.

Other Bank Bonuses

You can view my latest bank bonus blog posts in this bank bonus page. I and readers often post on bonuses in the bank deals forum.

  Tags: checking account, Massachusetts, Avidia Bank

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Comment #1 by gli (anonymous) posted on
FWIW - concerning out of state/footprint applications:

I called and the CS agent was perplexed - talked to his 'supervisor' who said that - yes you can apply online but you have to verify documents (I assume DL and or signature card) in person at one of their branches to complete the opening of an account. I did not go through the online application process to confirm - not interested in wasting a chexsystems/soft pull or hard pull on it.

Also - unknown credit pull (soft, hard, chexsystems).

Again - uncertainty in the voice of the CS - clearly this is not a question that they get very often - higher ups may have a different answer - interested to hear other folk's results.

Comment #2 by Thoringaard (anonymous) posted on
Online opening -  system disqualified me due to my residence in the great state of Texas

Comment #3 by Anonymous posted on
Disqualified: "Unfortunately, we do not offer this product in your state." My state is NY.

Comment #4 by Anonymous posted on
My heart bleeds for you!  NY qualifies for just about every other deal.  My state hasn't qualified for anything.  Don't be so greedy.

Comment #5 by Anonymous posted on
Um, I wasn't complaining. I was straightforwardly sharing the fact that I didn't qualify so that others in NY don't have to waste their time.

Comment #6 by Anonymous posted on
According to an office manager, this is only in state deal and it may be limited to certain zip codes.

Comment #7 by Jason(Texas) (anonymous) posted on
Texas application "Thank you for your interest in opening a new account.Unfortunately, we do not offer this product in your state.


Comment #8 by Rosedala posted on
I just called and was told it's ONLY for Massachusetts residents.  However, I'm sorry I only asked about the bonus checking account.  It may also accept other residents for their other accounts?

Comment #9 by Anonymous posted on
Didn't you read #6 above.

Comment #10 by edmond (anonymous) posted on
Can't qualify in CT state.  Bummer.

Comment #11 by Anonymous posted on
If you read the above comments, you would have not wasted your time.

Comment #12 by Rosedala posted on
To #9:  Didn't YOU read this way above???:

"There’s an online application link for each checking account in the bank’s offers page. The application allows people from any state to apply. I called the bank, and I was told people from any state should be eligible for this bonus."

I read it before it was crossed out; however...why am I wasting MY time to answer a sarcastic anonymous?

Comment #13 by jep1960 posted on
I opened an account at Avidia and as of today, I've gotten $150 of the $200 bonus. The missing $50 is for a lack of a DD or other ACH transaction, which I'm going to do ASAP. Then I should get the remaining $50.