Farmers Insurance Federal Credit Union (FIGFCU) $250 Checking Bonus

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

The Offer

Direct link to 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