[Santa Clara County, CA only] Commonwealth Central Credit Union $100 Referral Checking Bonus

Update 1/14/23: Deal is back, this time a $100 referral for both sides. Feel free to share your referrals in the comments below.

Update 9/11/22: Deal is back. Hat tip to alopez14

Offer at a glance

• Maximum bonus amount: $100
• Availability: Santa Clara County CA only
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Hard pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• Commonwealth Central Credit Union is offering a $100 bonus to both sides when using a referral when you open a new checking account and complete the following requirements:
  • Use promo code SHARE100
• Account also earns 2% APY on balances up to $20,000 when you meet the following requirements:
  • Make 15+ transactions with your debit card and/or Visa credit card
  • Have direct deposit or ACH deposit transactions totaling at least $300
  • Receive eStatements

The Fine Print

• Membership in CommonWealth is required.
• Offer applies to new checking accounts only.
• Subject to $100 fee for closing checking account within 6 months.
• All new accounts will be verified by Chex Systems.
• Cash or non-cash gifts in excess of $10 are subject to IRS reporting on form 1099-INT.
• Offer is subject to cancellation without notice and cannot be combined with any other offer. Promotion code: SUMMER
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees as long as you opt out of paper statements.

Early Account Termination Fee

Wasn’t able to find a fee schedule so unsure is there an early account termination fee or not.

Our Verdict

Not the most attractive bonus as it’s a hard pull, but given there are no requirements this is worth doing for some people. The 1.5% APY rate isn’t that attractive given the requirements.

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