$100 Checking Account Bonus at Wainwright Bank in Massachusetts


Wainwright Bank is offering a $200 Series EE Savings Bonds for opening a new Value Checking with Direct Deposit. The promotion is shown in the checking account page as of 12/15/08. One important thing to note is that the current value of EE Savings Bonds is only half the face value (see Treasury's EE Savings Bond page). I think this may be one reason why the Treasury continues to issue these bonds. It's good for gifts since many people assume they're getting twice as much.

Some important details about the bonus include:
  • must have a recurring payroll, Social Security or public assistance Direct Deposit made to the account
  • limit one bond per household
  • bond will be mailed within 90 days of account opening
  • account must be in good standing with active Direct Deposit at time of Bond mailing
  • initial value of Bond will be reported to the IRS as interest
Some important details about the Personal Value Checking Account include:
  • $10 minimum to open
  • $6 monthly service charge waived with direct deposit, otherwise a $500 minimum balance required
  • Monthly service charge waived for customers under the age of 19 or 65 and over
  • free online bill pay
The bank does have an online application, but I'm not sure if out-of-state people would be eligible for the bonus. I tried to contact the bank, but I couldn't get through to a CSR. You probably would have better luck with a branch visit. Branches are located in Boston, Cambridge and several other cities of Massachusetts. The bank is a member FDIC (FDIC Certificate # 27009).

Thanks to the reader who mentioned this bonus in the Finding the Best Deals post.
Anonymous   |     |   Comment #1
Does this apply to customer who already has a free checking and saving account?
4.01% Reward Checking Account at a Massachusetts Bank (The Community Bank)
Update 9/19/09: The top yield has fallen to 4.01% APY. Please see bottom of post for the rate history.

The Community Bank has a rewards checking account that pays 4.01% APY on balances up to $25,000 (1.51% for above) and refunds ATM fees (without limits) if the following monthly requirements are met:
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  • direct deposit or ACH payment or billpay
  • receive electronic statements
If these are not met, the rate falls to 0.10%. The minimum initial deposit it $50. There are no minimum balance requirements.

There's an online form that you can submit...

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Eastern Bank is headquartered in Boston and has branches throughout Massachusetts.

Last September I posted about this bank's 4% money market account. The 4% was guaranteed through 3/31/06. That was the time when EmigrantDirect did their major rate hike to 4%. Like Emigrant, Eastern Bank money market rate hasn't changed much. Currently it's paying 4.25% APY and...

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Refer to their special offers page for the official details.

You can submit an application request online. However, they are only...

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