Bankwell Bank in Connecticut will give you a $150 cash bonus or an SMEG Toaster when you open a Bankwell Choice or Choice Preferred Checking account and deposit $2,000.
The SMEG Toaster is valued at $149.95 on Amazon.com, and it’s pretty nice actually, but you can get $150 cash deposited into your account as well.
Bankwell Bank has branches in New Canaan, Stamford, Fairfield, Wilton, Norwalk, Hamden, and North Haven, Connecticut.
You’ll have to open your account in-branch in order to qualify for this promotion.
Please note that this offer is unofficially available through the end of April 2016, but it could expire early at any time.
How To Earn Bankwell Bank Bonus
1. Open a Bankwell Choice or Choice Preferred Checking account.
2. Deposit a minimum of $2,000 into your new account.
3. If you opt for the $150 cash bonus, it will deposited into your checking account within 7 to 10 business days of account opening.
4. If you opt for the SMEG Toaster, you will receive the toaster within 7 to 10 business days of account opening.
- Good for personal accounts only.
- Limited to customers who do not currently have a Bankwell checking account.
- Limit 1 gift or cash bonus per address.
- Bonuses are considered interest and will be reported on IRS Form 1099-INT.
Bankwell Bank Checking Account Details
There is a $100 minimum deposit to open either the Choice Checking or Choice Preferred Checking account.
Bankwell Choice Checking
Avoid $20 Monthly Maintenance Fee by doing 1 of the following:
1. Maintain a $2,000 average balance in checking for the current statement cycle.
2. Maintain a $15,000 combined average balance in all linked personal checking, savings, and money market accounts for the prior month.
3. Set up recurring direct deposit AND have 5 point-of-sale debit card transactions that post and clear during the statement cycle.
Bankwell Choice Preferred Checking
Avoid $30 Monthly Maintenance Fee by doing 1 of the following:
1. Maintain a $10,000 average balance in checking for the current statement cycle.
2. Maintain a $75,000 combined average balance in all linked personal checking, savings, money market, and CD accounts for the prior month.
Basically, if you go with the Bankwell Choice Checking account, you’ll need to deposit $2,000 to qualify for the $150 cash bonus, and then you’ll need to maintain that $2,000 balance to avoid the $20 monthly fee.
If you are able to do that, or set up the direct deposit and make 5 debit card purchases each statement cycle, then you can avoid the monthly fee.
Otherwise, there is no indication of any penalty charges if you close the account shortly after receiving the $150 bonus deposit.
A special thank you goes out to DepositAccounts.com for posting about this offer.