Centreville Bank's $200 Checking Bonus: A Solid Deal If You're in Connecticut or Rhode Island

If you live in Connecticut or Rhode Island and have a paycheck or government payment you can route to a new account, Centreville Bank has a $200 checking bonus worth a look. The requirements are straightforward — no minimum direct deposit amount is mentioned, and the personal checking accounts carry no monthly fees. You just need to use the right promo code and keep a small balance parked for a few months.

What You Actually Have to Do

The bonus hinges on two things, and neither is especially demanding. First, you need a recurring direct deposit hitting the new account within 60 days of opening it. Centreville defines that as regular ACH or Real-Time Payment credits from an employer or another outside entity — payroll, pension, Social Security, that kind of thing. One-off transfers don't count, so Venmo, PayPal, wire transfers, and moving money from another bank won't get you there.

Second, you have to keep a daily balance at or above the minimum deposit needed to open whichever checking account you pick. That's $10 for EmPower Checking, $25 for Personal Checking or Personal Plus Checking, and $100 for Personal Premium Checking. You need to hold that balance for 90 days after opening. In practice, that means leaving a few dollars in the account and not letting it dip below the threshold.

• Use promo code PUTNAM26 when you open the account
• Set up recurring direct deposit within 60 days
• Keep the minimum opening deposit in the account for 90 days
• Bonus lands 90 days after you complete the qualifying activities

The Fine Print Worth Knowing

The offer is limited to new customers, which Centreville defines as anyone who hasn't had funds on deposit with the bank in the previous 60 days. It's also one per household, so you can't stack it with a spouse's account or combine it with another promotion.

There's no listed expiration date, but the bank says it can pull the offer at any time. If you're on the fence, don't sit on it too long.

One more thing: the bonus is treated as interest and reported on a 1099-INT, so you'll owe taxes on the $200. That's standard for bank bonuses, but worth factoring in.

Fees and Getting Out

Personal checking at Centreville carries no monthly fees, which makes this a low-maintenance account to hold while you wait for the bonus. The bank's fee schedule wasn't readily available, so it's unclear whether there's an early account termination fee if you close soon after collecting.

That matters because the bonus is forfeited if you close the account or stop the direct deposit before the payout arrives. Once the $200 posts, you're free to decide whether to keep the account or move on — just check the fee schedule first to make sure closing won't cost you.

An Extra $50 If You Want It

There's a smaller side offer: an additional $50 bonus if you request a special Rhode Island Football Club debit card. It's a nice perk if you're a soccer fan or just don't mind the card design, but the main $200 is the reason to do this.

Bottom Line

• $200 bonus requires recurring direct deposit within 60 days and a minimum balance held for 90 days
• No monthly fees on personal checking, and the minimum balance requirement is as low as $10
• Bonus is taxable and reported on a 1099-INT
• One offer per household; new customers only (no deposits in the last 60 days)
• Bonus is forfeited if you close the account or stop direct deposit before payout

Common Questions