Posted by William Charles on June 21, 2016
Bank Account Bonuses

Published on June 21st, 2016 | by William Charles

2

[NY only] Lake Shore Savings $125 Checking Promotion



Offer at a glance

  • Maximum bonus amount: $125
  • Availability: All locatations are in NY [Branch locator]
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: Online banking, bill pay and eStatements
  • Hard/soft pull: Soft
  • Credit card funding: Unknown 
  • Monthly fees: Unknown
  • Early account termination fee: Unknown
  • Expiration date: September 30th, 2016

The Offer

Direct link to offer

  • Open a new LS Ultimate or LS Plus checking account and receive a bonus of up to $125:
    • Establish a direct deposit within 90 days of account opening and receive $50
    • Enroll in online banking, bill pay, and e-statements within 90 days to receive an additional $75

LSS-Switch-ad-larger-web-page



The Fine Print

  • To receive the $50 checking bonus, you must open an LS Ultimate or LS Plus Checking Account by September 30, 2016, and establish a direct deposit into this account within 90 days from the day the account was opened.
  • Your direct deposit must be a recurring electronic deposit of your paycheck, pension, or government benefit (such as social security) from your employer or the government. Enroll in online banking, bill pay, and e-statements within 90 days to receive an additional $75.
  • Bonus will be credited to the account within 90 days of activating a direct deposit, or enrolling in online banking, bill pay, and e-statements, as long as the account is in good standing.
  •  Bonus is limited to one account per customer regardless of the number of accounts opened, titling of the account, and number of direct deposit arrangements established.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees



Lake Shore doesn’t show you any monthly fees that are charged or requirements for waiving them, I wasn’t able to find a fee schedule at all so I’m unsure if an early account termination fee is charged or not. If anybody knows either of these, let me know in the comments.

Our Verdict

Not a bad bonus considering it’s a soft pull, but I’m still not sure if any monthly fees are charged or not. If anybody knows let us know in the comments. In the mean time, check out the best bank bonus page.

Big thanks to reader, David who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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2 Responses to [NY only] Lake Shore Savings $125 Checking Promotion

  1. Angelo L says:

    Called a branch and they said that it’s a soft pull (they use ChexSystems) and that there’s no minimum for the direct deposit. They also said that an ACH transfer from a retirement account (such as Fidelity) should trigger the direct deposit.

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