Deal has ended, view more bank account bonuses by clicking here.
Extended to June 30, 2025
Update 3/22/25: Extended to April 30, 2025
Terms state ‘Valid for the recipient of this offer only’
Offer at a glance
- Maximum bonus amount: $400
- Availability: CO
- Direct deposit required: Yes, two totaling $4,000
- Additional requirements: See below
- Hard/soft pull: Soft without overdraft protection
- ChexSystems: Unknown, sensitive
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: February 28, 2025
Contents
The Offer
- Patelco Credit Union is offering a $400 bonus. Bonus is broken down as follows:
- Earn $300 by opening a Free or Interest Checking account, enrolling in eStatements and have a minimum of two (2) consecutive qualifying monthly direct deposits into your new Patelco checking account totaling $4000 or more by May 31, 2025
- Earn $50 by opening a Money Market account along with your new Free or Interest Checking account
- Earn a final $50 by enrolling in RoundUp and accelerating your savings even further. Sign up in Patelco Online™ here.
The Fine Print
- Valid for the recipient of this offer only for checking account opened during promotional period January 7, 2025 to February 28, 2025.
- In order to qualify for the first $300 bonus, you must meet the following criteria 1) become a new Patelco member by opening a checking account by February 28, 2025. 2) sign up for e-statement 3) have a minimum of two (2) consecutive qualifying monthly direct deposits into your new Patelco checking account totaling $4000 or more by May 31, 2025. Qualifying direct deposits are electronic deposits of payroll (paycheck), government benefits payments, Social security, pension or other income received through the Automated Clearing House (“ACH”) Network. Deposits that do not qualify include, but are not limited to, internal Patelco account to account transfers, check deposits, peer-to-peer transfers (e.g., transfers from Zelle, PayPal, Venmo, etc.), ATM or branch deposits, ATM transfers, or remote deposits. You can earn up to an additional $100 ONLY after you’ve qualified for the first $300 reward before the qualification period ends on May 31, 2025. Earn an additional $50 by opening a Money Market Plus or Money Market Select account. Earn an additional $50 by signing up and using RoundUp at least once for your debit card purchases.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Neither account has any monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Previously this was only $100. I suspect most readers won’t be eligible due to how ChexSystems sensitive they are.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
View Comments (91)
Wasn't target and gave it a shot. No bonus, reached out to marketing team and they opened a ticket. Doubtful I'll get it since they seem to be pretty strict about it.
Here is my refer code if anyone wants to use it
Refer your friends & earn BIG,up to $500 for you, up to $200 for them1Your referral (promo) code is: R8DFPCCP
This limited-time offer ends July 31, 2025.
Here is the link for promotion patelco.org/campaign/refer
This offer is back NATIONWIDE with different terms but only until 7/31/25. “Refer your friends & earn BIG,
up to $500 for you, up to $200 for them. Open a checking account with referral code, make a direct deposit of at least 500.00 for two consecutive months, and set up e-statements for 100.00. Open a money market account, Plus or Select, and also setup Roundup automatic savings for an additional 100.00.”
Here is my referral code if anyone would like to like to use it:
[Removed]
(Used chat service to receive referral code via email) Thanks so much!!
Push from Wise for DD - on Patelco's website under Description it says "Instant Payment: From (someone's name i've never heard of). Been using Wise for a while and never had this happen before
Completed this offer, without being targeted.
No bonus.
Messaged customer service. Was this this reason.
Bad.
Same here. they created a ticket but no response so far on it.
Same
I think you meant to tag this as CA bonus, not CO bonus. :D
Fixed, thanks
Negative DP: I wasn't targeted and decided to give it a shot, but no luck.
2/16: account opened
3/14: real DD
4/14: real DD
Total real DDs > $4k
They labeled real DDs and Treasury Direct as “Salary/Regular Income" but Chase Business ACH (fee) and RelayFI as just "Deposit".
No bonus yet and doubtful I'll get it.
Share Patelco with your friends
Earn up to $500 for you, up to $200 for them $100 for you. Sign up for e statements. Receive 2 consecutive direct deposits for $500 each. Not targeted this is for anyone. Here's my referral code.
Your referral code is: R8MFWXM4
One more thing to note is there is a nuance to the $300 vs $400 current terms (post up top is out of date). For the $300 offer you can be an existing member (https://www.patelco.org/campaign/300 says "This limited-time, exclusive offer has been extended to existing Patelco members to make more of their membership with a Patelo checking and Money Market account.") for $400 you can't be a member before opening under the offer (https://www.patelco.org/campaign/400 says "become a new Patelco member by opening a checking account")
@guest_2054641 Hmm, so doing CC to get targeted wouldn't work?
DP & FYI:
1) Was targeted for $300 - I had a dormant Savings (Share) from opening membership a few years ago when considered mortgage with them. So can get targeted that way. Can't recall if opened checking at the time & had it autoclose due to dormancy
2) if you have P2 then you can apply for bonus in same household it seems. Personally can't give this a go this time as missed chance for April 30th opening date (for $300 bonus that I was targeted for). Did get a second letter for April despite opening at the last minute to meet March 14th deadline.
Also here is the fee schedule (no ETF fee): https://www.patelco.org/wp-content/uploads/2023/09/fee-schedule.pdf
do they allow CC funding ?
oh and DP re chex:
They pulled it back when I opened membership (share) back in the day, but did not pull new chex to open checking / MM.