Trustco Bank Is Handing Out $300 for a Checking Account — But You Have to Show Up in Person

Trustco Bank has brought back its $300 checking account bonus, and this time the promotional window runs from September 16 through October 31, 2026. The catch? You can't do this one from your couch. Trustco requires you to walk into a branch to open the account, which limits things to people in Florida, Massachusetts, New Jersey, New York, and Vermont. If you're in one of those states and can swing a branch visit, it's a pretty straightforward payday — assuming you can route a direct deposit their way.

What You Actually Need to Do

The mechanics here are simple enough. Open a Home Town Checking account at a Trustco branch, set up recurring direct deposit, and make sure three consecutive qualifying deposits land within 120 days of opening the account. Each deposit needs to be at least $500, and it has to come from payroll, Social Security, or pension income — not a transfer from another bank account you own.

The $300 bonus gets credited within 150 days after Trustco verifies you've met the requirements. That's a longer wait than some banks, so don't expect the money to show up the week after your third deposit hits.

• Open in-branch — online applications don't qualify for this promotion
• Three consecutive direct deposits of $500+ each
• Deposits must be payroll, Social Security, or pension income
• Complete the deposits within 120 days of account opening
• Bonus paid within 150 days after requirements are verified

Which Checking Account Should You Pick?

Trustco gives you a few Home Town Checking options, and the right one depends on how much you plan to keep in the account. The Home Town Free Checking account is the obvious choice for most people chasing this bonus — no monthly fee, $50 minimum to open, and it doesn't earn interest. If you just want the $300 and don't care about earning anything on your balance, this is the one.

The Premier Checking account comes with a $5 monthly service charge, though you can dodge it by keeping a $500 average balance or setting up recurring direct deposit. Since you'll already have direct deposit going for the bonus, the fee should take care of itself. The catch is that the APY is only 0.01%, so you're not exactly earning anything meaningful on your money.

There's also an Investment Checking account with a $25 monthly fee and a $20,000 balance requirement to waive it. That one only makes sense if you're planning to park serious cash there, and the 3.10% intro rate for three months probably isn't enough to justify the hassle for most bonus chasers.

• Home Town Free Checking: no monthly fee, $50 to open, no interest earned
• Home Town Premier Checking: $5 monthly fee, waivable with $500 average balance or direct deposit, 0.01% APY
• Home Town Investment Checking: $25 monthly fee, waivable with $20,000 average balance, 3.10% intro rate for 3 months

The $26 Trap You Need to Know About

Here's the part that trips people up: if you close the account within three months of opening it, Trustco charges a $26 early account termination fee. And yes, you lose the bonus too. So even after your direct deposits clear and you've done your part, you'll want to keep the account open for at least 90 days before you start thinking about closing it.

That's not a huge sum, but it's annoying enough to plan around. Mark your calendar for three months after you open the account, and don't touch it until then.

• Closing within three months triggers a $26 fee
• You forfeit the $300 bonus if you close early
• Keep the account open at least 90 days after opening

Is This Bonus Worth Your Time?

If you live in one of the five eligible states and can get to a branch without too much trouble, this is a solid offer. The direct deposit requirement is straightforward for anyone with a regular paycheck, and there's no minimum balance to maintain on the free checking account beyond the initial $50 deposit.

The in-branch requirement is the real friction point. It rules out anyone outside FL, MA, NJ, NY, and VT, and it means you can't knock this out during a lunch break from your computer. You'll need to physically go to a branch, which might mean taking time off work or planning a trip.

One more thing to keep in mind: Trustco pulls ChexSystems, so if you've been opening a lot of bank accounts lately, that could be a problem. The good news is that it's a soft pull, so your credit score won't take a hit.

• Great for anyone near a branch in the five eligible states
• In-branch requirement is the biggest hurdle
• Soft pull means no credit score impact
• ChexSystems inquiry could matter if you've been churning accounts

Bottom Line

• Trustco Bank is offering $300 for opening a Home Town Checking account in-branch through 10/31/26
• You need three consecutive direct deposits of $500+ within 120 days — payroll, Social Security, or pension only
• The bonus pays out within 150 days after requirements are verified
• Closing the account within three months costs you $26 and forfeits the bonus
• Only available in FL, MA, NJ, NY, and VT — and only if you open in person
• Soft pull on credit, but Trustco does check ChexSystems

Common Questions