Available to Massachusetts residents, Beverly Bank is offering you a $300 checking & money market bonus when you open a new checking account and complete simple requirements. Below is all the information and details you need to earn your Beverly Bank $300 Checking & Money Market Bonus!
Editor’s Note: This bonus is available only at the 29 Elm Street, Danvers Branch!
Beverly Bank $300 Checking & Money Market Bonus Summary
To earn your Beverly Bank $300 Checking & Money Market Bonus, simply open a new checking account and meet a specified requirements.
- Bonus Offer: Beverly Bank $300 Checking & Money Market Bonus
- Availability: MA (Bank Locator)
- Expiration: None listed
- Credit Inquiry: Hard Pull or Soft Pull? Let us know
- Credit Funding: Unknown, please let us know
- Opening Deposit Requirement: $10 checking; $25,000 Money Market
- Direct Deposit Requirement: Yes
- Monthly Service Fee: See below
- Early Termination Fees: None listed
- Promo Code(s): None
Application Link
Beverly Bank $300 Checking & Money Market Bonus: If you are eligible for this bonus offer, go online to apply!
Bonus Requirements
Earn one $150 deposit into your new personal checking account when you open a new personal NOW or Cooperative checking account with these Beverly Bank services:
- Initiate and maintain a direct deposit with a minimum of $500 in direct deposits per month,
- Enroll in E-statements,
- Apply for a debit card and complete a minimum of 15 debit transactions per month over a 3 month period,
- Enroll in online banking and use Billpay with a minimum of 3 bill payments per month.
The $150 will be deposited into your new account on the 120th day after account opening provided the terms are met. If you decide to go for the full $300 bonus, open a Money Market Account with a minimum opening deposit of $25,000.
Money Market Account Rate
The APY is effective for at least 6 months after account opening and then the rate and tiers may change thereafter. Minimum daily balance of $25,000 in Money Market (MM) required to open account and obtain 1.30% APY. Must be opened with a checking account with specified services (see #1 above) to receive 1.30% APY. $250,000 maximum balance. Months with minimum daily balances below $25,000 in MM will earn 0.00% APY.
Avoid Monthly Fees
- Cooperative Checking Account: Maintain an average monthly balance of just $100, you are free from any monthly service charges or fees
- NOW Checking Account: To avoid maintenance and activity charges simply maintain a daily balance of $500.
Author’s Verdict
This Beverly Bank $300 Checking & Money Market Bonus is a little demanding for just a $300 bonus, but if you have $35K in cash that you would like to invest at a 1.30% rate for 6-months, here is your chance! This rate is very good especially for a 6-month term on top of a $300 bonus. If you happen to know any info regarding credit card funding, credit inquiry, or the early termination fees, please let us know! Let us know in the comment section below on your thoughts and experience with this bank bonus! Be sure to check back on BankDealGuy for more bank deals!
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