Offer at a glance
- Maximum bonus amount: $888
- Availability: CA only, but can join nationwide via FFA
- Direct deposit required: $1,500-$10,000+
- Additional requirements: Promo code and online banking
- Hard/soft pull: Soft pull
- ChexSystems: Yes, mixed DP on it being Chexsystems sensitive
- Credit card funding: Up to $10,000
- Monthly fees: None
- Early account termination fee: None listed
- Household limit: None listed
- Expiration date: March 7, 2026
Contents
The Offer
- San Francisco Federal Credit Union is offering a checking bonus of up to $888. Requirements are as follows:
- Use promo code PROSPER
- Sign up for online banking
- Make qualifying direct deposits within 90 days of account opening. Bonus is tiered based on amount received:
- $388 bonus when you receive a monthly direct deposit of $1,500-$4,999
- $588 bonus when you receive a monthly direct deposit of $5,000-$9,999
- $888 bonus when you receive a monthly direct deposit of $10,000+
The Fine Print
- Eligibility for the cash bonus is only available to new credit union members, and requires opening a new checking account and savings account, setting up a direct deposit for the amount in the chart below per month for a minimum of three consecutive months, membership eligibility and signing up for online banking.
- This offer cannot be combined with any other checking promotion.
- Only one account per member is eligible.
- The account must be in good standing to receive the bonus. The direct deposit must be from a preapproved external source (e.g. payroll, pension, government benefits).
- Qualifying transactions exclude ATM withdrawals and must post and clear the account within the 60-day period.
- The cash bonus will be credited to your account within 90 days of meeting all criteria.
- Bonuses are considered interest and may be reported on IRS Form 1099-INT.
- You must use promo code PROSPER to receive this offer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Basic checking has no monthly fees to worry about.
Early Account Termination Fee
I can’t see any mention of an EATF in the fee schedule.
Our Verdict
Previous bonuses required 3 debit card transactions, terms don’t say anything about that this time but might be worth doing it anyway as the terms do say ‘Qualifying transactions exclude ATM withdrawals and must post and clear the account within the 60-day period’ and that usually relates to a debit card requirement.
Suspect this will be very popular as out of state is working, it’s a massive bonus and you can fund $10,000 with a credit card. Goodluck!
Hat tip to reader Bockrr
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
