Salem Five Bank has an offer that can get you a $150 bonus when you open a new account. You need to do a total of $1,500 in direct deposits to get this Salem Five Bank $150 bonus. Warning, it could be a hard pull.
Bonus Requirements
To get this Salem Five Bank $150 bonus, you must:
- Open a new personal Star Checking account with promo code STAR
- Have cumulative direct deposits of $1,500 or more within 60 days
Bonus will be credited into your new account within 10 days after requirements are met.
Eligibility
- Star Checking offer is not available to customers with an existing personal checking account at Salem Five Bank. Closed accounts that were opened any time in the 12 months prior to account opening are considered existing accounts for the purpose of qualifying for this promotion.
- One bonus per household
Fees
Star Checking has a $15 monthly fee that can be waived with the following options:
- $1,500 minimum daily balance or a combined deposit ledger balance and/or outstanding loan balance of $5,0002.
- Also, waived if you have your payroll or monthly Social Security payment directly deposited to your account; or you establish and maintain an automatic transfer from this account to pay a Salem Five Mortgage (Excludes Home Equity Products)
I don’t see an early closing fee, but there’s a $10 fee for closing account by mail.
Guru’s Wrap-Up
This looks like it’s a hard pull so that kind of kills the deal. You could do much better with a credit card bonus with a hard pull. A good bonus and seems to be available nationwide. I do not know if this is a soft or hard pull. Definitely no go if it’s the latter. Let me know if you’re familiar with this bank.
If this bonus is not for you, then you can check our full list of available bank bonuses.
Offer Details
- Promo Page
- Bonus: $150
- Account Type: Star Checking
- Availability: Nationwide?
- Expiration Date: None
- Inquiry Type: Hard pull
- Direct Deposit Requirement: Yes, $1,500 within 60 days
- Other Requirements: No
- Credit Card Funding: No
- Monthly Fee: $15, can be waived
- Closing Account Fee: Unknown
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