[MA, NH, ME or RI] Eastern Bank $200-$350 Checking Bonus

Update 5/26/24: Deal is back and valid until June 24, 2024. This time only the $200 and $350 checking bonuses are available.

Update 9/23/23: Deal is back and valid until 10/23/23.

Update 5/5/23: Deal is back and there is a $600 tier as well. Hat tip to Peek

Update 9/11/22: Bonus is back and now $350 instead of $300. Hat tip to fearthez

Offer at a glance

• Maximum bonus amount: $350
• Availability: MA, NH, ME or RI
• Direct deposit required: Yes, $4,000+
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Yes, sensitive
• Credit card funding: No longer available
• Monthly fees: None
• Early account termination fee: None
• Household limit: One
• Expiration date: May 17, 2021 June 5, 2023

The Offer

Direct link to offer

• Eastern Bank is offering a bonus of $300 (two direct deposits required)
  • Cumulative direct deposits of $1,000-$3,999.99: $200 bonus
  • Cumulative direct deposits of $4,000 – $14,999 : $350 bonus
  • Cumulative direct deposits of $15,000+: $600 bonus

The Fine Print

• This offer is valid for new consumer checking account customers only.
• New customers are primary signers who have not had a consumer checking account since 04/10/2020.
• The account must also meet the following requirements 90 calendar days after the account open date to receive an incentive (if the 90th calendar day falls on a non-business day, the requirements must be met on the following business day): (a) Primary signer must reside in MA, NH, ME or RI; (b) Primary signer must be age 18 or older; (c)
• Account must be open and have a positive balance. Incentives for qualified accounts will be deposited into customer’s account no later than 30 calendar days after confirmation that the account has met all the requirements.
• No incentive will be paid if the account is closed on the date we attempt the deposit.
• The Bank may, at its discretion, pay the incentive earlier if all the qualifying requirements have been met.
• Only one incentive per customer and one incentive per household as defined by a common address.
• Customer will receive a 1099 form for this incentive.
• Please consult your tax advisor regarding the tax implications of this offer.
• Other qualifications and restrictions may apply.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

There is no early account termination fee

Our Verdict

We have seen a bonus of $350 with smaller requirements in the past. That hasn’t been available for some time, so I’d recommend doing this offer now if you’re eligible. I’ll add this to our list of the best bank account bonuses.

Hat tip to reader Lisa

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times