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
Anybody get a 1099 for Figure Pay?
No was wondering the same thing today.
tactical .
Thanks Figure Pay
easiest bonus ever
signed up in March, 2023
miss you
RIP. An email went out today.
Subj: Your account is closed
Your Figure Pay account is now closed because we are no longer supporting the Figure Pay app. If you had an existing positive balance, a check will be mailed out to you to your primary address on file. For any questions contact our customer support team at [email protected].
Thank you for supporting Figure Pay these last couple of years!
I was able to initiate a $1000 transfer from Figure today, which is my new daily max. Last month it was $500 as others have reported.
DP: I was able to join, receive the $25 referral bonus after $50 in debit card spend, and receive the $100 direct deposit bonus after two (2) consecutive monthly Cash App transfers in the amount of $1200 each. This was all after Figure Pay announced that they were shutting down, but they hadn’t shut down new account sign ups yet. I don’t know if the referral bonus is still available or if new sign ups are still up. Obviously, the direct deposit bonus is no longer available. Feel free to email me at [email protected] for a referral link if anyone still wants to try.
2/14 – Signed up with app download, selfie and ID verification and email confirmation
2/16 – $1200 Cash App DD posted
2/25 – $50 debit card spend to my online rent account
3/2 – $25 referral bonus posted (not on the same day that my referrer’s posted, weird)
3/7 – $1200 Cash App DD posted
3/7 – $100 direct deposit bonus
Probably should have posted this at some point in the past… several months, but my referral’s open if anyone wants to go after the $25
I opened this a week before the shutdown notice and it took 2 weeks to get the debit card. Also pulls are not quick. Did get both bonuses though.
Yeah v true. And they closed my account anyway, presumably because my balance became $0, so nvm
Anyone ever have a Cash App DD not post on the expected deposit date? I’ve done many of them and they’ve all posted on the expected date.
Me, P2, and P3 all sent Cash App DDs on 3/5 and all of us expected them to post to Figure Pay the morning of 3/7.
None of them are showing in Figure Pay as of this writing.
All three cash outs are still showing as Pending in Cash App cash-out history as of this writing.
Called Figure Pay this morning, they are saying they don’t see any incoming deposits today. Called Cash App and they told me to wait until tomorrow to file a dispute.
Thank goodness everything is showing up as it should now, bonuses included.
That was stressful for a couple of hours.
P2’s DP: Cash App $1,200 DD this morning at 6:07 AM
$100 DD Bonus at the same time.
Overall, easy bonus, no hard pull, no chex pull, and unlikely for EWS. #missedout ieatdogfood
Because of bad timing and the shutdown, only one referral was paid out between the two of us, other than our own.
Great to hear about the DD bonus
Bummer. It’s been like two months since I opened a bank/fintech account. That’s a new low.
I’ve got a list of seven Chex-hit possibilities and trying to decide on priorities for P1. Maybe I will just do 7 in one day and see who wins?
Gadget - Bank Bonus Geek are you me? that sounds like me right now.. :p A few of the ones on my list are “highly CHEX sensitive” tho so I don’t know if it’s even worth trying to apply for them or whether I would regret not applying?
I know. I responded to you and would like to know your 15… Sunshine
https://www.doctorofcredit.com/best-bank-account-bonuses/#comment-1563211
Gadget - Bank Bonus Geek 🔗 What do you mean “only one referral bonus was paid out” ? Did you receive the referrer bonus ?
I used your link to open this and received my $25 on March 3 same day I used the card to make $50 purchase.
Currently waiting for my own referrer bonus for P2. I wonder how long it takes for the referrer to receive their bonus and what it displays as
I did get a $25 referral bonus on March 3rd, so that was likely from your sign-up, which I wasn’t aware of when I wrote that comment. However, I referred my P2 and the bonus did not appear on the same day as her $25, which is confusing and did not follow the below naming convention.
When I signed up, the $25 for being referred bonus showed up as “SYSTEM TRANSACTION PAID YOU”.
Referral bonuses post as “Referral referrer bonus”.
okay great!
My P2’s bonus also hasn’t showed up.
I hope they aren’t denying that seeing same address!
I just double-checked P2’s app… The $25 was posted as “Referral applicant bonus”. Same address. What’s weird is I do not have a matching referral bonus for that day. Just happy they are still honoring the bonuses.
Got my $100 “direct deposit” bonus using Gadget - Bank Bonus Geek ‘s advice to use Cash app and Wise. Worked like a charm. $100 bonus posted 1 day after second “DD”
I booked a refundable hotel for $55 with the debit card.. and waiting for the $25 bonus.. and then a few days later will cancel the hotel. Didn’t have anything else to buy right now with a debit card.
Thanks!
Got my $100 bonus today when $1205 posted from cashapp. Both the deposit and bonus posted at the same time.
Sweet! fdic? My P2’s hoping for tomorrow!
That is a relief to hear. I am looking forward to mines, (and P2’s and P3’s posting on Tuesday of next week once Cash App deposits post).