[MA, CT, VT, NH only] Florence Bank $400 Checking Bonus

Update 7/18/26: Deal is back and now $400 instead of $250. Also available in VT, NH. 

Update 6/12/22: Deal is back.

Update 6/12/21: Bonus increased to $250 and requirements are easier. Hat tip to reader Kamil Sultan

Offer at a glance

• Maximum bonus amount: $250
• Availability:
  • MA Hampshire, Franklin, Hampden, Berkshire, or Worcester
    
  • CT Hartford, Litchfield, Tolland, or Windham
    
  • VT Windham or Bennington
    
  • NH Cheshire
• Direct deposit required: Yes
• Additional requirements: eStatements
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, Chexsystems sensitive
• Credit card funding: Up to $500
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None
• Expiration date: None

The Offer

Direct link to offer

• Florence Bank is offering a bonus of up to $400 when you open a new checking account and complete the following requirements within 60 days of account opening:
  • Use promo code VALLEY
  • Receive qualifying direct deposits totaling $1,500 or more within 90 days of account opening 

 

The Fine Print

• To earn the $400.00 account bonus deposit, you must open a new personal checking account online or at any of our branches using Promo Code VALLEY and set up and receive Qualifying Checking Account Direct Deposits totaling $1,500.00 or more within 90 calendar days of account opening.
• This offer is only available to new personal checking customers and is limited to one per customer.
• Florence Bank employees and all existing Florence Bank checking customers, including those with any relationship to any other Florence Bank checking account, or those who closed a checking account within the last 180 calendar days, are not eligible.
• Qualifying Direct Deposits are regular, periodic automated clearing house (ACH) credits, which may include payroll, salary, pension, or government payments (such as Social Security).
• Deposits from the Real- Time Payments (RTP) network, payments through peer-to-peer networks such as PayPal, Zelle, Venmo or others, do not qualify as direct deposits.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

All checking accounts they offer have no monthly fee to worry about.

Early Account Termination Fee

According to the fee schedule there doesn’t seem to be any early account termination fee.

Our Verdict

They have offered a very similar bonus in the past as well, but that required singing a song instead of mobile banking. Seems like a good bonus if it turns out to be a soft pull. If anybody goes for this bonus then please share your experiences in the comments below.

Hat tip to reader Ryan M

Useful posts regarding bank bonuses: