Find an updated list of Stoneham Bank bonuses, promotions, and offers here.
Update 4/29/24: There is now a $300 checking bonus available.
Stoneham Bank Bonuses Review
Stoneham Bank is headquartered in Stoneham, Massachusetts, and was founded in 1887. Since then they have grown to 2 locations and offer money market rates that are 4X the national average.
I’ll go over all Stoneham Bank offers below.
Stoneham Bank $300 Checking Bonus
- What you’ll get: $300 Bonus
- Eligible account: Optimum One or Optimum Plus Checking
- Where it’s available: MA (Bank/ATM Locator)
- Credit Inquiry: Soft Pull
- Direct Deposit Required: Yes
- Monthly Fee: $10-$15; waivable
- How to earn it:
- To qualify for the $300 Bonus:
- Open a StonehamBank Optimum One or Optimum Plus checking account online at stonehambank.com, connect through video banking, or visit our Billerica Branch and mention this offer within 90 days of the account opening date.
- You must: Have a qualifying monthly direct deposit of at least $500 into the new checking account.
- Once the offer requirements are met: The $300 bonus will be credited into the new personal checking account within 120 days from the new account opening date.
- To qualify for the $300 Bonus:
(Limited time offer)
| Chase Total Checking ($300 Bonus) | KeyBank Checking ($300 bonus) |
| Bank of America Checking ($300 Bonus Offer) | SoFi Checking & Savings Account ($325 bonus) |
Fine Print
- To qualify for the $300 Bonus: Open a StonehamBank Optimum One or Optimum Plus checking account online at stonehambank.com, connect through video banking, or visit our Billerica Branch and mention this offer within 90 days of the account opening date.
- You must: Have a qualifying monthly direct deposit of at least $500 into the new checking account.
- Qualifying direct deposits include paychecks, pensions, government benefits (such as Social Security), or other eligible regular monthly income from employers or the government, electronically deposited into the checking account, with a minimum of $500.
- Transfers between StonehamBank accounts and accounts at other financial institutions or brokerages do not qualify.
- The customer must not have had any existing or prior personal checking accounts with StonehamBank within the previous 12 months.
- Once the offer requirements are met: The $300 bonus will be credited into the new personal checking account within 120 days from the new account opening date.
- The account must remain open, active, and in good standing to receive the bonus.
- In the event of the checking account’s closure by the customer or StonehamBank within 6 months of the account opening, StonehamBank reserves the right to deduct the bonus amount from any of the involved accounts upon closure.
- StonehamBank may issue an IRS Form 1099-INT or other appropriate forms reporting the value of the bonus.
- The offer is subject to change and may be withdrawn at any time.
Stoneham Bank $25 Referral Bonuses (Expired)
Stoneham Bank now has a $25 bonus offer when you open an eligible checking account.
- What you’ll get: $25 Bonus
- Eligible account: Optimum One or Optimum Plus Checking
- Where it’s available: MA
- Credit Inquiry: Soft Pull
- Direct Deposit Required: No
- Monthly Fee: $10-$15; waivable
- How to earn it:
- Complete this coupon and give it to a friend.
- When they open their own StonehamBank personal checking account, you will receive a $25 referral credit to your account.
- Your friend will get a $25 new account credit and a great checking account.
(Limited time offer)
| Chase Private Client ($3,000 Bonus) | Fifth Third Preferred Checking ($300 Bonus) |
| KeyBank Checking ($300 bonus) | |
Fine Print
- To be eligible for the referral credit, you must be an existing StonehamBank customer and refer a new customer who opens any StonehamBank personal checking account.
- Limit of four referral credits per individual.
- To be eligible for the new account credit, new customers must open any StonehamBank personal checking account.
- Business checking accounts are not eligible for this promotion.
- Minimum deposit to open any StonehamBank personal checking account is $10.
- Limit one new account credit per individual.
- Coupon must be presented at account opening.
- This offer may be changed or withdrawn at any time without notice.
- Please allow 5-7 business days for the credits to be posted to your account.
- StonehamBank employees and their families are not eligible.
How To Waive Monthly Fees
- Optimum One Checking: $10 monthly fee, waived with one of the following: Maintain monthly direct deposit of $500, maintain an average daily balance of $1,500, or use your debit card 5 times per month for Point of Sale Transactions not ATM.
- Optimum Plus Checking: $15 monthly fee, waived if the average daily balance in your checking is $10,000 or greater or if your combined checking, savings, money market, CD and IRA balances are $25,000 or greater.
- Simple Checking: None
- Optimum Advantage Business Checking: $10 monthly fee, waived with one of the following: Maintain monthly direct deposit of $500, maintain an average daily balance of $1,500, or use your debit card 5 times per month for Point of Sale Transactions not ATM.
- Business Free Checking: None
- Non-Profit Checking: None
- IOLTA Checking: None
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Conclusion
Overall, this is a good bonus offer to have when you open a new eligible checking account with Stoneham Bank. There are lots of features that come with the account that you’ll be able to benefit from. Plus, these accounts have a soft pull on it, which won’t harm your credit at all.
Stoneham Bank has decent Money Market rates, but you should still check our best rates Savings, Money Market, and CD accounts.
If you’re not local to the state of Massachusetts, use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank, and many more.
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