Offer at a glance
- Maximum bonus amount: $150
- Availability: In branch only, all branches seem to be in/around Evansville [Branch locations]
- Direct deposit required: Yes, $150+
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None listed
The Offer
- Open your first ever checking account with Diamond Valley Federal Credit Union and meet the following criteria within 90 days to earn $150:
- Sign up for E-statements
- Sign up for Online Banking
- Begin direct deposit of at least $150 per month
- Perform 75+ signature based debit card transactions [How To Meet Minimum Debit & Credit Transaction Requirements]
- Earn an additional $50 during this 90 day period by:
- Opening a loan for at least $3,000 in new money (excluding Home Equity Line of Credit and Visa) within this 90 day period
The Fine Print
- Offer applies to new and existing members who open their first ever checking account with DVFCU, based upon the primary member’s social security number.
- Offer applies to Free Classic Checking only.
- Member must be 18 years of age.
- Member must meet normal member and account qualifications to open the checking account.
- The bonus will be deposited into the account within 120 days of account opening if qualifications are met.
- The $150 bonus will be reported as taxable income on your 1099INT form.
- The account must remain open, active, and in good standing through the qualifying period to receive the bonus.
- Normal loan qualifications apply for opening and receiving the additional $50 bonus.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Offer applies to the free classic checking account and this has no monthly fees. Account needs to be open for the bonus to post (within 120 days of account opening).
Our Verdict
Requiring 75 debit card transactions seems very excessive, even purchasing Amazon credit would cost you $37.5 if all the reloads were 50¢. Hard to say if it’s a good or bad deal without knowing if it’s a soft pull but my gut feel is that it’s way to much work with all the requirements and requiring in branch opening for only $150. If anybody goes for it then please share your experiences in the comments below. As always best checking bonuses can be found here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
