Newest Webster Bank Promotions: Best Offers, Coupons, and Bonuses August 2020

You can earn big money from Webster Bank promotions.

Webster Bank serves personal and commercial customers in Connecticut, Massachusetts, New York and Rhode Island with both branch locations and online and mobile banking options. Like many banks, Webster regularly offers cash bonuses when you sign up for an account, but many potential customers might not be aware of them.

GOBankingRates survey found that only 10% of respondents bother reviewing bank promotions. The rest potentially miss out on hundreds of dollars in free money. Rather than be among that group, keep reading to learn more about Webster Bank promotions for August 2020.

Here's what this guide to Webster Bank promotions will cover:

Webster Bank Promotions at a Glance

Here's a quick look at this month's Webster Bank promotions:

Best Webster Bank Promotions: August 2020
AccountCash Value of BonusExpiration Date
Webster Bank CheckingUp to $250None
Webster Bank Business CheckingUp to $250None
Webster Cash Rewards American Express Card $25None
Webster Bank Referral ProgramUp to $500None

See More: Best Checking Accounts of 2020

Webster Bank Current Webster Bank Promotions

Webster Bank is continuing its promotions for personal and business checking referrals this month. It's also offering a bonus for a cash rewards credit card. You don't need any coupon codes to cash in on any of the current offers.

Webster Bank Checking: Up To $250 Bonus

Webster Bank offers a variety of checking accounts, including Value Checking, WebsterOne Relationship Checking and Premier Checking. When you sign up for one of these accounts and meet certain requirements, you can earn a bonus of $25, $75 or $250. Here's how:

  • Cash value: Up to $250
  • Availability: Connecticut, Massachusetts, New York and Rhode Island
  • Minimum deposit to qualify: $10,000
  • Expiration date: None
  • How to get it: For the $25 bonus, you'll first have to open a new Webster checking account and fill out the form on the promotion page. After that, you must set up direct deposit and make 10 debit transactions or five online bill payments by the end of the second full month your account is open. You'll have to maintain a balance of at least $2,500 to receive the $75 bonus, and at least $10,000 to earn the $250 bonus.
  • When you'll get it: Four to six weeks after meeting all requirements
  • Terms and conditions: To be eligible, you must not have been an active Webster Bank Checking account holder within the past 60 days.
  • Monthly fees: $11.95 to $21.95, but these can be waived if you meet certain requirements.
  • Promotion page: Webster Bank Checking bonus offer

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Webster Bank Business Checking: Up To $250 Bonus

Webster Bank offers three types of business checking accounts: Business Value Checking, Complete Business Checking and Commercial Checking for Small Business. New business customers can earn a bonus worth up to $250 when they open an account and take certain actions -- some of which also let you avoid monthly maintenance fees. Here are the terms for the Webster Bank business account bonus:

  • Cash value: Up to $250
  • Availability: Connecticut, Massachusetts, New York and Rhode Island
  • Minimum deposit to qualify: $500
  • Expiration date: None
  • How to get it: Open a new business checking account and fill out the form on the promotion page. To qualify for the $25 bonus, you must set up a direct deposit and make 10 debit transactions or five online bill payments by the end of the second full month your account is open. To earn the $75 bonus, you must maintain an average balance of at least $2,500. For the $250 bonus, you'll have to maintain an average balance of at least $10,000.
  • When you'll get it: Four to six weeks after you meet the requirements
  • Monthly fees: $11.95 to $27, but these can be offset by credits or waived altogether by meeting certain requirements
  • Promotion page: Webster Bank Business Checking bonus offer

Webster Cash Rewards American Express Card: $25 Bonus

You can earn cash-back rewards on all your purchases when you qualify for a Webster Cash Rewards American Express card. You'll get 3% cash back on gas, 2% back on supermarket purchases and 1% back on everything else. Plus, a $25 bonus is waiting for you. Here's how to get it:

  • Cash value: $25
  • Minimum spend to qualify: N/A
  • Expiration date: None
  • How to get it: Apply and get approved for a Cash Rewards American Express card account and make a purchase.
  • When you'll get it: Six to eight weeks after your first purchase
  • Terms and conditions: Requires a hard pull on your credit
  • Annual fee: None
  • Promotion page: Webster Cash Rewards American Express card bonus offer

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Webster Bank Referral Program: Up To $500 Bonus

Webster Bank offers a $50 Visa Rewards card for customers who refer friends and businesses that open accounts with the bank and meet certain criteria. You can earn up to $500 in Visa Rewards cards each year. Here's more:

  • Cash value: $50 per referral, up to $500 per year
  • Availability: Connecticut, Massachusetts, New York and Rhode Island
  • Minimum deposit to qualify: N/A
  • Expiration date: None
  • How to get it: Refer a friend or business to Webster Bank. The referral must then open an eligible account and either set up direct deposit, make five online bill payments or make 10 debit transactions within two months of opening the account.
  • When you'll get it: 14-16 weeks after the referral opens the account
  • Terms and conditions: Referred person must be a new Webster checking customer and cannot be an employee or relative of an employee.
  • Monthly fee: N/A
  • Promotion page: Webster Bank Referral Program

Learn More About: How Long It Takes for a Check to Clear at Your Bank

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Past Webster Bank Promotions, Offers and Bonuses

If none of the current Webster Bank promotions are right for you, another might fit the bill in the future. You can get an idea of the kinds of promotions Webster might offer in coming months by checking out promotions it has run in the past. Here are details on a pair of promotions the bank offered earlier in 2020:

Webster Bank Value Checking Promotion: $250 Bonus

Value Checking is Webster's low-cost checking account option. By signing up for a new Value Checking account in April, you would have earned a $250 cash bonus. Here's how:

  • Cash value: $250
  • Expiration date: Expired
  • How to get it: Customers were required to open an account using the Webster Bank coupon code of $250VALUE-MOV-FEB-APR20. They then had to receive at least $500 in direct deposits by June 30, 2020, or maintain an account balance of at least $1,000 in June.

Webster Bank Premier Checking Promotion: $400 Bonus

When you opened a Webster Bank Premier account for this promotion, you got a 0.50% interest rate discount on personal loans and lines of credit as well as preferred rates on your CDs. Here were the requirements to earn the $400 cash bonus:

  • Cash value: $400
  • Expiration date: Expired
  • How to get it: Customers were instructed to use the Webster Bank coupon code of $400PREMIER-MOV-FEB-APR20 and then receive at least $500 in direct deposits by June 30, 2020, or maintain a minimum balance of $10,000 in June.

Related: 10 Best Personal Loans for People with Good Credit

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How To Open a Webster Bank Account

To take advantage of current Webster Bank bonuses, you'll need to speak with a representative to open an account. Call 888-493-2783 or complete a contact form on the bank's website and a representative will call you back. Alternatively, you can visit a local branch.

How Much Money Do You Need To Open a Bank Account at Webster Bank?

The minimum deposit required for opening a Webster Bank account depends on the account you're trying to open. Webster Premier Checking requires an opening deposit of at least $500, but you can open all other personal checking accounts with $50. All business checking accounts require an opening deposit of at least $500.

More On: Here's Your Webster Bank Routing Number

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Is Webster Bank the Right Bank for You?

Webster Bank has a limited geographic reach, and if you don't live in one of the states it serves, you're probably better off looking for bank promotions elsewhere. But if you do live in Webster's direct service area, there's plenty to like about the bank. You'll have access to a variety of products, including checking, savings, money market and certificate of deposit accounts. If you open an account at the right time or have friends and family who might like the bank, you can also earn some extra cash by switching to Webster.

Check back each month for updates and new promotions as they are available. If none of the above promotions seem like a good fit for you, there are also a number of other banks offering promotions this month.

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Information on promotions is accurate as of May 27, 2020. Additional requirements may apply. Offers and terms are subject to change.

This content is not provided by Webster Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Webster Bank.

This article has been updated with additional reporting since its original publication.

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