[Expired] [NJ, NY & PA, In Branch Only] Ocean First Bank $250 Checking Account Bonus – Direct Deposit Not Required

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Offer at a glance

• Maximum bonus amount: $250
• Availability: New Jersey, New York & Pennsylvania. Must be opened in branch [Branch locations]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown, sensitive (might not be sensitive in branch)
• Credit card funding: Usually up to $100 online, but most likely not available in branch or a cash advance
• Monthly fees: $7.95, waived first year
• Early account termination fee: Bonus is forfeit if closed within one year
• Household limit: None
• Expiration date: November 30th, 2019

The Offer

Direct link to offer

• Ocean First Bank is offering a bonus of $250. To receive the bonus you need to complete the following requirements:
  • Open a new Simply Great Checking account
  • Request a debit card and receive $50
  • Make a debit card transaction of $25+ and a mobile deposit of $25 or more within 60 days and receive a $100 bonus
  • On your 6 month account anniversary receive a $100 bonus

The Fine Print

• Offer available to first-time Simply Great checking customers from 10/1/19 through 11/30/19 and subject to change at any time.
• Business checking accounts do not apply to this offer.
• Initial $50 cash bonus is paid at account opening when you take and use an OceanFirst Visa® Debit Card with your new account.
• An additional $50 cash bonus will automatically be deposited into your account after 60 days, only after making a debit card transaction of $25 or more within 60 days of account opening.
• An additional $50 cash bonus will be automatically deposited into your account after 60 days, only after making a mobile check deposit of $25 or more within 60 days of account opening.
• An additional $100 cash bonus will automatically be deposited 6 months after your account opening date, as long as you continue to be an active mobile banking user by accessing the mobile banking app and utilizing the mobile banking features.
• All cash bonuses are taxable.
• $50 minimum to open any OceanFirst checking account.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees $7

Simply Great checking account comes with a $7.95 monthly maintenance fee. Fee is waived with a daily minimum balance of $5000. Fine print says it’s waived first year.

Early Account Termination Fee

Account needs to be kept open for one year or bonus is forfeit.

Our Verdict

We saw a similar bonus last October, but it was for $50 less but could be opened online. There was also a $300 bonus the previous year. Don’t think it really makes sense to wait for a better bonus to come along as it seems to be a strict one per year and looks like you might be able to churn them as well (although the accounts do need to be kept open for one year to avoid forfeiting the bonus). The deal itself is worth doing if you live near a branch as no direct deposit is required and the monthly fee is waived the first year. I’ll be adding this to the best checking bonus page.

Hat tip to PracticalEmployee

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