Wainwright Bank is offering a $200 EE Savings Bond with the opening of a Value Checking account with Direct Deposit. While Wainwright is Massachusetts based, the offer is available nationally and the accounts can be opened online.
I spoke to the bank and while the application can be opened online, a paper signature card will be sent along with a request for identification. Opening an account can take up to 10 days. The $200 savings bond offer is open-ended and can end at any time. Wainwright said that as long as an application is submitted while the offer is still available, the bonus will be given, even if the signature card and funding has not been received.
Other key requirements of this offer include:
- You must set up recurring payroll, Social Security or public assistance Direct Deposit made to the account.
- One per household.
- Offer not available to current Wainwright personal checking customers.
The bond will be mailed within 90 days of account opening.
This is a non-interest bearing checking account so if you are opening it just for the bonus be aware of the following. The $200 EE Savings Bond offer is actually more like a $100 bonus. EE Savings Bonds are sold at half of their face value. They then reach face value over the next 20 years as interest accrues.
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