Offer at a glance
Maximum bonus amount: $500
Availability: MA only. Barnstable County only
Direct deposit required: Yes, $500-$1,000
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: $100
Monthly fees: $0-$15
Early account termination fee: None
Household limit: None listed
Expiration date: None listed
The Offer
Direct link to offer
Cape & Coast is offering several checking bonuses.
Personal checking:
$500 bonus: Open a SmartRate Checking account with $1,000 in monthly direct deposits within the first 90 days.
$250 bonus: Open a Free Checking with $500 in direct deposits within the first 90 days
$250 business checking: Open a Free Business Checking and maintain a minimum average monthly balance of $500 for the first 90 days.
The Fine Print
Available only to new customers with no personal or business checking with us in the previous 12 months. Limited to one personal checking bonus (SmartRate Checking or Free Checking) and one Free Business Checking bonus per mailing address. The account must be open at the time bonus is paid. Offer available through December 31, 2026. Offer only available to Barnstable County residents, and meet these additional requirements:
To Receive $500 SmartRate Checking Bonus: Open and maintain a new SmartRate Checking for 90 calendar days and have electronic direct deposits totaling $1,000 or more post to and clear that account within the 90-day period. If all requirements are met, the $500 bonus will be deposited into your SmartRate Checking no later than 120 calendar days after account opening. See SmartRate Checking Account information below for additional account information.
To Receive $250 Free Checking Bonus: Open and maintain a new Free Checking for 90 calendar days and have electronic direct deposits totaling $500 or more post to and clear that account within the 90-day period. If all requirements are met, the $250 bonus will be deposited into your Free Checking no later than 120 calendar days after account opening.
To Receive $250 Free Business Checking Bonus: Open a new Free Business Checking and maintain an average monthly balance of $500 or more during the first 90 calendar days of account opening. If all requirements are met, the $250 bonus will be deposited into your Free Business Checking no later than 120 calendar days after account opening.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
SmartRate has a $15 monthly fee, this requires all of the following to waive:
keep a daily balance of $1,000 or more, get $1,000 or more in direct deposits each month, use eStatements, and make two debit card purchases monthly
Free Checking has no monthly fees to worry about
Free business checking has no monthly fees to worry about
Early Account Termination Fee
I didn’t see any mention of an EATF in the fee schedule.
Our Verdict
This was briefly working for all of MA, but think only one or two applications snuck in before they changed it to Barnstable County only. Fingers crossed we see a more open bonus again soon.
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