UniBank's $500 or $750 Checking Bonus: A Solid Deal for Massachusetts Residents

If you live in Massachusetts and have been thinking about switching banks, UniBank has a tempting offer on the table right now. Through April 30, 2025, new customers can snag either $500 or $750 just for opening a checking account and setting up direct deposit. The higher bonus requires opening a savings account too, but the requirements are pretty straightforward. Let's break down what you need to know before you apply.

Two Paths to a Bonus

UniBank is giving you a choice. Go for the $500 bonus, and you only need to open an e by UniBank Checking account. Want the full $750? You'll also need to open a Direct Deposit Statement Savings account at the same time. Both options require you to use promo code UNIBANK when you apply, either online or in person.

The direct deposit requirement is the same for both: $2,500 in qualifying deposits within 90 days of opening. That's your salary, pension, Social Security, or other regular income from an employer or outside agency. Just make sure the money is coming from someone else—transfers from your own accounts won't count.

• Open an e by UniBank Checking account online between March 1 and April 30, 2025
• Use promo code UNIBANK at account opening
• Enroll in Online Banking and eStatements
• Deposit $2,500+ in qualifying direct deposits within 90 days
• Keep the account open and in good standing for at least 90 days

What About That $750 Bonus?

The $750 offer is essentially the same as the $500 one, but with an extra step. You need to open both the checking account and a Direct Deposit Statement Savings account. The direct deposit total of $2,500 must be split between the two accounts—so you can't just dump it all into checking and call it a day. Both accounts need to see some of that money.

Otherwise, the fine print is identical: you must be a new checking and savings customer (no existing accounts at UniBank), at least 18 years old, and you can only get one bonus per household. The bonus will show up in your checking account within 60 days after you've met all the conditions.

Things to Watch Out For

This is a solid offer, but it's not without its quirks. First, availability is limited to Massachusetts. If you don't live there, you're out of luck. Second, the direct deposit definition is pretty standard, but make sure your payroll or benefits actually qualify. Some banks are picky about what counts.

Also, note that UniBank may report the bonus as interest on a 1099-INT form. That means you'll owe taxes on it come April. And while there's no early account closure fee listed, the terms say you need to keep the account open for 90 days after opening. Close it sooner, and you might forfeit the bonus.

One more thing: the offer can be modified or withdrawn at any time. So if you're interested, don't wait until the last minute.

Bottom Line

• Earn $500 with just a checking account and $2,500 in direct deposits, or $750 by adding a savings account.
• Offer runs through April 30, 2025, and is only for Massachusetts residents.
• No monthly fees, and the bonus arrives within 60 days of meeting requirements.
• Remember: the bonus is taxable, and you must keep the account open for 90 days.

Common Questions