Update 1/19/26: Terms now change to required $15,000 in direct deposits rather than $5,000 per month for 3/4 months.
Now requires four direct deposits.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Seems like anybody can join via American Consumer Council (ACC)
- Direct deposit required: Yes, $5,000+ per month for three consecutive months
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $1,000
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: 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
- $100 Bonus when you open a FIGFCU High Yield Checking account and post 3+ separate ACH Direct Deposits with a cumulative total of $3,000 to $14,999 in the first 90 days of account opening.
- $250 Bonus when you open a FIGFCU High Yield Checking account and post 3+ separate ACH Direct Deposits with a cumulative total of $15,000 or more in the first 90 days of account opening.
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
