Posted by William Charles on March 31, 2018
Bank Account Bonuses

Published on March 31st, 2018 | by William Charles

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[Expired] [Targeted] First Tech Federal Credit Union $100 Checking & $250 Savings – Available Nationwide

This deal has expired, current top checking bonuses can be found here.

According to a reader this is a targeted promotion, only existing users are eligible?

Offer at a glance

  • Maximum bonus amount: $350
  • Availability: Nationwide
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: See below
  • Hard/soft pull: Hard
  • ChexSystems: Yesinquiry sensitive
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: April 30th, 2018

The Offer

Direct link to offer

  • First Tech Federal Credit Union is offering bonuses of up to $350 for opening a checking/savings account. Offers are as follows:
    • Open a Dividend Rewards checking account and set up direct deposit within 60 days and get a $100 bonus
    • Open a new instant savings bonus and get:
      • $150 bonus when you transfer $15,000 of new funds in within 10 business days and maintain that balance for 90 days
      • $250 bonus when you transfer $25,000 of new funds in within 10 business days and maintain that balance for 90 days

The Fine Print

  • Offer expires 04.30.18.
  • Bonus offer is not valid for multiple accounts and is available by invitation only. (keep in mind this showed up as a Google ad, so everybody should be eligible)
  • This offer is non-transferable and is not available to members with existing Dividend Rewards Checking or Instant Access Savings accounts or those whose accounts have been closed within 90 days. New accounts must be personal accounts, not fiduciary or business accounts.
  • For new members, opening a Membership Savings Account with a deposit of $5.00 is required prior to opening any other type of accounts. After meeting criteria below, we’ll deposit bonus amounts to your Membership Savings Account month-end after you meet all criteria.
  • The checking bonus may be combined with only one savings bonus option. Account must be in good standing (not in default, closed, or otherwise not in good standing.) Bonus amounts are considered interest and will be reported on IRS form 1099 INT.
  • To receive $100 checking bonus: 1) Open a new Dividend Rewards Checking account AND 2) Have your direct deposit made to this account within 60 days of account opening. Direct deposit must be electronic deposit with paycheck, pension or government benefit description.
  • To receive $150 savings bonus: 1) Open a new Instant Access Savings account; 2) Deposit $15,000 in new money within 10 business days of account opening; AND 3) Maintain a minimum daily account balance of $15,000 for 90 days after the first 10 business days. New money cannot be held by First Tech or its affiliates.
  • To receive $250 savings bonus: 1) Open a new Instant Access Savings account; 2) Deposit $25,000 in new money within 10 business days of account opening; AND 3) Maintain a minimum daily account balance of $25,000 for 90 days after the first 10 business days. New money cannot be held by First Tech or its affiliates.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The savings accounts do not have any monthly fees, checking account also has no monthly fees to worry about. I wasn’t able to find any fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Hard pull and ChexSystems sensitive kill this deal unfortunately. Personally I’d just give this one a miss, but if you don’t really care about hard pulls and haven’t opened many bank accounts then maybe you could go for it. Although I’d recommend just focusing on bigger checking & saving bonuses personally and just giving this one a miss instead.

Big thanks to reader, Michael G who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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LAG
LAG

The credit card funding section has Chex system links indicating yes, & inquiry sensitive; wheras the chex system section has unknown…

credit card funding, s/b not allowed:

https://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/#First_Tech_Federal_Credit_Union

Dan
Dan

Much work for 4.3% APY for 90 days.

No thanks.

Shawn
Shawn

How did you get 4.3%? I got 4.03% daily compounding if my math right. 25250=25000*(1+x/365)^90

Matt
Matt

Anyone tried CC funding with amex?

Tom
Tom

Anybody know whether it’s ChexSystems sensitive even if one opens ONLY the savings account? Seems like a savings account should be less sensitive than a checking acct …

Danny
Danny

good question. I’m curious too. I’d probably go for only the Savings account if it’s not chex sensitive. I just opened 3 accounts this week though so if anyone wishes to try please report back here. I may need to wait a week or two before opening another one. Thanks!

larry
larry

Anybody got the skinny on DD as what counts and what doesn’t? tia

Alex
Alex

What I’m curious about (and will try to find out from them) is whether existing checking account prevents eligibility for the savings bonus.

Charles Mann
Charles Mann

The hard pull is the dealbreaker, so I’ll pass.

Rye
Rye

Just opened account and no hard pull.

Shawn
Shawn

Checked all 3 bureaus? Can you recheck a few days later? Would be contradicted DP.

Rye
Rye

Just Experian. Whar do you use for others that are free?

Shawn
Shawn

Check Credit Karma other 2 (Transunion/Equifax). Then let us know. This DP would contradict and be welcome news.

Rye
Rye

I just checked Credit Karma and no HP either for TU & Exp

MoreSun
MoreSun

Did you have to open the member savings account with the $5 first/separately?

Rye
Rye

No. It was combined.

Michelle
Michelle

Where does it say anything about a hard pull? How do you know there is one?

Olga
Olga

Any experience on what counts as DD for them besides payroll?

Shawn Morgan
Shawn Morgan

This is now targetted. Called trying to get set up (kept getting thrown to callback form online). Successfully got promo email, but open account links would not work. Lady on phone said targetted to existing members and I was not on list (even after forwarding promo email). She chased down supervisor who said targeted. Post needs update.

William Charles

AnameOfaguy
AnameOfaguy

Very old post, and this update is for a very select audience but if you are an Intel Corp employee or immediate family member, you get $200 with a new checking account and $15k deposit plus an additional $500 bonus with a DD of $2,000 by 04.30.19. I don’t have all the fine print available yet.

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