A Solid $300 Bonus for New Yorkers from Walden Savings Bank

If you're in New York and looking for a straightforward checking account bonus, Walden Savings Bank has a pretty attractive offer on the table right now. It's not one of the giant national banks, but that can sometimes mean simpler requirements and a more personal touch. Let's break down what you need to know to snag that $300.

How to Actually Get the $300

The process is refreshingly clear. First, you need to open a new personal checking account. The specific account types that qualify are the Super NOW, 55+ Checking, College Advantage, or Advantage Checking accounts. Once it's open, the clock starts ticking.

You have 90 days to complete one of two tasks: either set up a single monthly direct deposit of at least $1,000, or make $1,000 worth of purchases using your new account's debit card. You don't have to do both, which is nice. The direct deposit route is usually the most hassle-free if your payroll provider allows it.

Crucially, you also must sign up for online and mobile banking. This is a non-negotiable step, so don't skip it. Once you've ticked all those boxes, the bank says they'll deposit your $300 bonus into the account within the next 30 days.

Important Fine Print to Keep in Mind

As with any bank bonus, the devil is in the details. Reading the terms carefully can save you a major headache later. Here are the big ones you need to watch.

• You can't have had a Walden checking account in the last two years. This is a standard 'new customer' rule.
• You must keep the account open for a full six months. If you close it before then—whether you decide to or the bank does—they will take the $300 bonus back out of your balance.
• This is a one-per-customer deal, and you can't combine it with any other promotions they might be running.
• The bonus is considered taxable income, so expect a 1099-INT form from the bank come tax time.

Is This a Good Deal for You?

For a New York resident, this is a competitive offer. A $300 bonus for a single $1,000 direct deposit is a great return. The alternative of using your debit card for $1,000 in spend over three months is also manageable, though be aware some banks have stopped counting certain transactions like gift card purchases.

A huge plus is that the qualifying checking accounts have no monthly maintenance fees. The Advantage Checking account does have a $25 fee, but it's waived if you keep a $5,000 balance. For most people going for the bonus, the Super NOW or similar no-fee account is the obvious choice.

One thing to be prepared for: as a smaller regional bank, they will likely check your banking history through ChexSystems. If you've had issues with overdrafts or account closures reported there, it could affect your approval.

Bottom Line

• A strong, simple $300 bonus for New Yorkers with a clear path to qualification.
• The no-monthly-fee account options make this a truly 'free' bonus if you avoid the Advantage Checking account.
• The six-month holding period is critical—plan to keep the account open until at least mid-2025 if you open now.
• Perfect for someone who can route one $1,000+ paycheck or has planned debit card expenses.

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