[WI only] WaterStone Bank $250 Checking Promotion + $100 Money Market

Update 10/27/20: It’s now much easier to meet the requirements for the checking bonus and there is now a new money market bonus. Hat tip to reader KED

Offer at a glance

• Maximum bonus amount: $350
• Availability: Wisconsin only
• Direct deposit required:  Optional, $300+ (will receive a $200 bonus)
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: 90 days, $30 fee
• Household limit: One
• Expiration date: October 30th, 2017 May 31st, 2018 August 31st, 2018

The Offer

Direct link to offer

• Open a new free checking account at any WaterStone branch or online and receive a sign up bonus of up to $250, bonus is broken down as follows:
  • Receive a qualifying direct deposit of $300 or more within 90 days of account opening & get $200
  • Make 5 debit card purchases and get $25
  • Enroll in eStatements and get $25
•  Open a new money market account and get a $100 bonus when your money market account reaches $10,000 or more within 90 days of account opening for a statement cycle

The Fine Print

Checking bonus:

• $200.00 Cash Bonus when direct deposits of payroll or government benefits totaling $300.00 or more is deposited within 90 calendar days of account opening.
• Bonus will be credited to the new checking account on the first statement cycle after the direct deposit is received.
• A statement cycle may be from the 17th (a calendar day) of a month to the 16th (a calendar day) of the next month. To determine your statement cycle please ask your Personal Banker at the time of account opening. 1,000 ScoreCard® Rewards Bonus points when logging into ScoreCard® Rewards website for the first time.
• Reward points will be credited to your ScoreCard® Rewards account within 30 calendar days of account opening.
• A $25.00 e-statement bonus will be credited to your new checking account when e-statements are set up within the first 90 days of account opening.
• The reward is credited within the first statement cycle of the account receiving e-statements.
• A $25.00 debit card usage bonus will be credited to your new checking account when five (5) debit card purchases have posted and settled to the new checking account within one statement cycle (ATM transactions do not qualify) and within 90 calendar days of account opening.

Money market bonus:

• $100.00 cash bonus when the account reaches an average daily balance of $10,000.00 or more for a statement cycle within 90 days of account opening.
• Account must be open and active for 180 calendar days, or a $30.00 closing fee may be assessed at account closing.
• For tax reporting purposes, a 1099 form may be issued at year end for recipients of bonuses.
• A WaterStone Bank SSB (WSB) companion Universal Checking account is required to open the Money Market account.

Avoiding Fees

There are no monthly fees on this account, it does need to stay open for at least 90 days otherwise you’ll be charged a $30 early account termination fee.

Our Verdict

This bonus is now significantly better than it once was due to the requirements being lowered (before you need to have made a lot of debit card purchases to get the full bonus and spend a total of $1,200). The money market bonus is also worth doing. We will add this to our best bank bonus page.

Big thanks to reader, DrBooyah who let us know. Learn how to find bonuses and contribute to the site here.

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

Post history:

• Update 3/30/20: Deal is back, no end date listed. Hat tip to reader EW
• Update 06/06/18: Bonus is back and valid until August 31st, 2018. Hat tip to reader DrBooyah.