Update 2/13/23: Figure Pay is closing down on March 31, 2023.
Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â Nationwide
- Direct deposit required:Â Yes, $1,200+ for two consecutive months
- Additional requirements:Â None
- Hard/soft pull: Soft pull
- ChexSystems: None
- Credit card funding: None
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The Offer
- Figure Pay is offering a $100 bonus when you set up your account and direct deposit at least $1,200 per month for two consecutive months
The Fine Print
- Limit one $100 bonus per customer.
- Bonus will be deposited in the Figure Pay account within 30 days of the second consecutive deposit satisfying requirements for bonus
- 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
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
There is also a $25 referral bonus but as far as I know these don’t actually stack. Figure has raised $1.6 billion according to TechCrunch and seems to be a FinTech running on blockchain tech. We need to know if it’s a hard or soft pull, but might be worth doing for some people.
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
