Posted by William Charles on May 23, 2016
Bank Account Bonuses

Published on May 23rd, 2016 | by William Charles

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[Expired] Chartway Federal Credit Union $100 Checking Bonus – Available Nationwide

Update 3: Looks like the offer has expired, if anybody finds any working links then please let me know in the comments.

Update 2: Credit card funding is back.

Update: Some people are reporting that even though they live in these states they aren’t eligible for a free membership, so I assume you have to live within a certain distance of a branch.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Nationwide
  • Direct deposit required: Yes, no minimum
  • Additional requirements: 5 signatured base debit card purchases
  • Hard/soft pull: Soft
  • Credit card funding: Up to $1,500
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Expiration date: Not listed, but limited time offer

The Offer

Direct link to offer

  • Join Chartway Federal Credit Union, set up a new checking bonus and receive a $100 bonus, broken down as follows:
    • Activate your Visa debit card, make 5 signature transactions within 60 days and receive $50
    • Set up for a direct deposit within 60 days and receive $50

chartway 100 bonus

The Fine Print

  • Receive up to $100 per eligible member only.
  • This offer may not be combined with any other new member offers at the time of account opening
  • A $15 minimum is required to open checking account, and a $5 minimum is required to maintain savings account.
  • To qualify for $100 bonus, must become a new member, activate Visa Debit Card, make five (5) signature transactions, and establish new direct deposit within 60 days of account opening.
  • Bonus will be awarded within 90 days of account opening.
  • Existing checking accounts and direct deposits do not qualify.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Becoming A Member

If you live, work or worship in Florida, Georgia, Rhode Island, Texas, and Virginia you can join for free. If you live in Utah, Nevada, and Arizona you can get this bonus through SouthWest Community CU (promo link here).  If you live in Utah you can complete this bonus through HeritageWest (promo link here). Update: Some people are reporting that even though they live in these states they aren’t eligible for a free membership, so I assume you have to live within a certain distance of a branch.

Anybody can become a member by making a one time donation to the We Promise Foundation. To do this follow these steps:

  • Click join now/open now
  • Become a member
  • You will then be given the option to donate $10 to the We Promise Foundation.

Best Value Checking $0 Monthly Fee

Your best option for avoiding monthly fees is to go after the Best Value Checking account which has no monthly fee and does not require any minimums to keep it fee free.

Early Account Termination Fee

I wasn’t able to find an up to date fee schedule, so I’m not sure if an EATF is charged. In the past it was required to keep the account open for 180 days or you would forfeit the bonus but that is not included in the fine print of this offer. Shouldn’t be a big issue since you can keep the account open for free anyway.

Our Verdict

I usually aim for bonuses that are $100+, if you live outside one of the free areas you’d need to pay $10 to join, so I wouldn’t really recommend this bonus unless you live in one of the areas where opening the account is free now that they don’t allow credit card funding.

I’m going to add this bonus to our list of the best bank bonuses currently available, although it’s probably dead last on the last now that there is no more credit card funding. It’s always nice to see more nationwide bonuses, even if it does require a donation. One thing worth keeping in mind is that they did offer a $150 bonus, but this was last offered in November of 2014 so I think it’s unlikely to return at this stage.

Useful posts regarding bank bonuses:



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Matthew
Matthew

Thanks. Instant approval, with $1500 ($1485 to checking, 5 to savings, and 10 as donation) coding as a purchase on my Citi ThankYou Preferred.

Unfortunately I don’t think they showed me the account number at any time – so hopefully it comes in the mail since I can’t go to a branch.

John K
John K

Wow that’s exciting news about the Citi card posting as a purchase. Last I knew Citi was still a no-no for funding bank accounts.

David
David

That’s an old wives tale most of the time these days…

Miguel
Miguel

From here: https://www.chartway.com/join/direct-deposit

You will need to use your ACCOUNT NUMBER. Your checking account number is different from your member number. Do not use your member number when asked for your account number. Your account number can be found on the MICR line at the bottom of your Chartway checks. You can also locate your ACCOUNT NUMBER by logging in to our online banking system and looking under the INFO tab next to the account you designate for your direct deposit. Your Account Number (ACH) is listed at the bottom.

Matthew
Matthew

Thanks, but I actually didn’t see either a member number or account number, – did you get it yet?

Miguel
Miguel

I confess… I did not. I haven’t received any email communication other than my application was submitted and received.

Let’s both keep our internet fingers crossed that we’re accepted!

Miguel
Miguel

Would you be willing to see if 5x $0.50 Amazon Reloads count as 5x “signature-based transactions”?

From what I understand signature based transactions are routed through the Visa/Mastercard network, not the PIN Debit Network. Amazon does not support the PIN Debit network (of course).

Jack
Jack

Is Amex an option for funding?

John
John

I too would like to hear whether Amex is a funding option. I have a new Amex card that I need to put $$$ on to meet minimum spending.

Jak
Jak

I can confirm Amex is unavailable as an option

Pat
Pat

Amex will not work. The funding page doesn’t recognize amex card number.

Iz
Iz

What’s the easiest way to set up DD via Serve/Bluebird/Paypal? Thanks.

matt
matt

visa/ mc only

Hardy
Hardy

I opened a/c with no issues. Just pay attention for selecting one checking a/c out of four options, First two has higher minimum balance & rest two has no minimum balance. I selected 3rd one, Access checking, which has DD & ACH facility. It was asking for Promo Code, at the end of application, I didn’t find any, hopefully it doesn’t require any promo code………………………
I can confirm, only Visa & MasterCard, No Amex. I charged Capitalone Quick Silver, counted as purchase of 1500

T
T

Chase British Airways counts as a purchase.

Kris
Kris

App went pending. Credit card has not been charged yet. I used Chase INK Plus. Will report later,

Joe
Joe

My Chase Ink+ was rejected twice. May be due to the fact that my CA limit is set very low.

adam d
adam d

what does signature based transactions mean exactly? does it differ from say a gasoline purchase at the pump?

Blake
Blake

I believe it’s when you process the card as credit instead of debit. So if you’re in store, make sure to not enter your pin number. Also I think you can do this via Amazon reload (someone confirm?).

Miguel
Miguel

You can?!?! That’d be awesome. I don’t have to buy five things of $0.89 greek yogurt in five separate transactions and make the cashiers hate me.

Joe
Joe

The only 2% cashback credit card I have is the Capital One Spark Business card.
But capital one seems always treat this kind of transaction as cash advance.(data from https://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/)
Any one can confirm recently Capital One initial funding was treated as purchase?
Thank you very much!

Jimmy
Jimmy

Hardy in the comments above says Capital One quik silver posted as purchase.

Ken
Ken

What is the description and category that the funding posts as? I’ve had trouble with Citi in the past not giving me points when the category is Financial.

Blake
Blake

For my Citi 2%, it’s pending as “MORTGAGE COMPANIES-FINANCIAL INSTITUTION” for the description.

Ken
Ken

Uh oh… That’s the exact category mine was for an AA card and they denied me points for a “spend $1,000 a month and earn an extra 1,000 bonus points”. And now I’m trying to meet min spend for a new AA card.

Blake
Blake

Wow, that’s disappointing. Thanks for the info.

dan
dan

Should the citi double post 2% cb for any purchase assuming that the funding is posted so?

Darv
Darv

I applied for this from the link at their promotion page but did not enter a promo code. I did not see one to enter. Is there a promo code I should have entered?

Logan
Logan

What a joke… got denied because I have had “10 chex system applications” within the last year, and they only accept 3. What kind of bank does this?
Moving on..

Miguel
Miguel

Shoot, man. I’m in the same number range.

Daniel
Daniel

Wish I had known this before applying, waste of time

Fiby

Bummer, I’ve got way more than three.

Thanks for the heads up!

Miguel
Miguel

What counts as a “signature-based” transaction? Is it just processing the Debit card as Credit? Is does a dollar amount have to trigger a signature?

kurtle123
kurtle123

CC funding is now disabled. Not sure if the bonus is still available, but I was more interested in the 1.5k funding option.

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