Now requires four direct deposits.
Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â Seems like anybody can join via American Consumer Council (ACC)
- Direct deposit required:Â Yes, $5,000+ per month for three consecutive monthsÂ
- Additional requirements:Â See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $1,000
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â None listed
Contents
The Offer
- Farmers Insurance Federal Credit Union (FIGFCU) is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Use promo code GHYCHECK
- $250 bonus when you open a High Yield Checking account and make direct deposits of $5,000 or more a month for four consecutive months.
- $100 bonus when you open a High Yield Checking account and make direct deposits of $1,000 to $4,999 a month for four consecutive months.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about. There is a $5 monthly inactivity fee
Early Account Termination Fee
There is no EATF according to the fee schedule.
Our Verdict
This is significantly better than the $100 referral bonus we have previously posted about.
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