Published on June 23rd, 2017 | by Chuck145
Elements Financial 2% APY Rewards Checking on up to $20,000
Offer at a glance
- Maximum bonus amount: 2% APY
- Availability: Nationwide
- Additional requirements: 15 transactions
- Hard/soft pull: Soft
- ChexSystems: Yes (note: they are Chex sensitive)
- Credit card funding: None
- Monthly fees: None with e-statements
- Early account termination fee: Bonus forfeit if closed within six months (should not affect 2% APY rate)
- Insured: NCUA
- Element Financial Credit Union offers a rewards checking with a 2% APY rate on balances up to $20,000
To be eligible for the 2% rate:
- You must have at least 15 transaction on the account each month; this includes the following: debit card purchases, checks, bill payments, ATM withdrawals
- You must have a balance of $100 or more
This is no longer available
There’s also a $200 bonus for opening up the checking account if you use promo code: CHECK200 The promo page is for State of Indiana employees and family members, but readers note they got the bonus by using the promo code despite not being an employee or family so it might work for anyone. Other readers signed up first for a savings account, and got the $200 sent their way via email. The only requirement mentioned is that you get a $500 recurring monthly direct deposit within 60 days of checking account opening and submission of applicable promo code at application.
The Fine Print
- Annual Percentage Yield is variable and may change after account is opened. APY is 2.00% on balances up to $20,000, 0.10% on balances greater than $20,000.
- Dividends will be paid per statement cycle requirement.
- At least one accountholder must be at least 18 years old.
- You must maintain a minimum average daily balance of $100 to earn dividends. Accounts not meeting the qualifying threshold will earn 0.05% APY.
- One product offer of each type per household.
To save yourself from the $5 monthly fee, be sure to enroll in e-statements. You need to keep the account open for six months to avoid forfeiting the bonus.
The credit union is available to anyone nationwide. Most people will only be eligible to join the credit union by paying a $5 fee to Tru Direction.
This isn’t the best rewards checking account but the $200 bonus makes it worth signing up for. Because of that I will be adding this to our list of the best checking account bonuses. Elements also has a number of credit cards that offer a $300 cash bonus.