Posted by William Charles on August 10, 2019
Bank Account Bonuses

Published on August 10th, 2019 | by William Charles

63

[Expired] [FL only] Addition Financial $300 Checking Bonus

Deal has expired, view more bank account bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Must live, work, worship, volunteer, attend school, or own a business in a qualifying county (Orange, Osceola, Seminole, Lake, Alachua, Brevard, Duval, Flagler, Hernando, Highlands, Hillsborough, Indian River, Marion, Martin, Okeechobee, Pasco, Pinellas, Polk, St. Johns, St. Lucie, Sumter, or Volusia County). All are in FL
  • Direct deposit required: Yes no minimum specified
  • Additional requirements: Use promo code
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Can fund up to $3,000 with a Visa or Mastercard
  • Monthly fees: $7.50 avoidable
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: September 29th, 2019

The Offer

Direct link to offer

  • Addition Financial is offering a bonus of $300 when you open a new choice checking account and complete the following requirements:
    • Use promo code OC300
    • Set up a direct deposit within 60 days of account opening
    • Buy yourself something nice with the $300 (I assume you don’t need to use the linked debit card but this isn’t exactly clear?)

The Fine Print

  • Offer available through September 29, 2019.
  • Offer subject to end or change at any time without notice.
  • Incentive deposit will be made within 15 business days after qualifying activities are met.
  • This offer cannot be combined with other Addition Financial savings or checking account offers, and is only available to members who qualify for Choice Checking.
  • Addition Financial membership requirements apply.
  • If the checking account is closed within 180 days, the account holder will forfeit incentive amount.
  • Savings account is required at account opening.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Looks like there is a $10 membership fee, not sure if this can be waived.

Monthly Fees

Looks like there is a $7.50 monthly fee and this is waived if you do any of the following:

  • Under 23 years old
  • Have an active loan or credit card with Addition Financial
  • A $250 cumulative average daily balance in combined deposits
  • Direct deposit to savings or checking account ($500 monthly aggregate requirement)

Early Account Termination Fee

I didn’t see any mention of any early account termination fee in the fee schedule.

Our Verdict

I do think it’s worth doing as the requirements are relatively easy to meet and it’s a nice sized bonus, plus a nice amount of credit card funding. Because of that we will be adding this to our list of the best bank account bonuses. Please share your experiences with this bank in the comments below.

Hat tip to reader Manny S

Useful posts regarding bank bonuses:



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AndreRamirez
AndreRamirez

Another bank account bonus for Florida, the holy land of bank account bonuses lol. Do the alligators have their own banks too? 🙂

Geo

Applied and received a response that I will be contacted by a representative.

No apparent hard pull yet.

Allows $3,000 in Visa or MC funding with a CC.

chirovegan
chirovegan

I just closed my account with them, they were a pain. Every time I tried to pay a credit card bill it would be returned even though I had the right routing and account number. I wonder if I’m eligible for this bonus though if I open a new account? I closed my old account last week.

JuicyJosh
JuicyJosh

@Manny S, thanks! You’re awesome!

Geo

Update: applied and approved. Received a call from Addition one hour after I applied online to verify documents.

Initial funding of $3k with Alliant Visa Sig currently pending as a purchase.

No hard pull showing on any of the 3 bureaus.

Michael Denner
Michael Denner

Do you have a savings account there, per terms (see terms)? How did you handle this?

Geo

I did after I opened one during the application process. I had no relationship with Addition previously. The savings account and a $5 deposit appeared to be required.

Austin Auclair
Austin Auclair

This is the bank I use as a hub because I thought they’d never offer a bonus smh

jj
jj

Hard or soft credit pull?

brando596
brando596

How do you avoid the $10 monthly membership fee that is mentioned?

Looney Tunes
Looney Tunes

Only way I see is: “If you’re a student, we’ll even waive the fee and spot you the five bucks. “

Grand Funk
Grand Funk

what membership fee?

Austin Auclair
Austin Auclair

This was my first bank I have a credit card with them :/

YR X
YR X

Thanks, Manny S! There’s an option to do CC funding up to 3k, no AMEX

Austin
Austin

do yall think i could close my current account and take advantage of this offer?

BonusGuy
BonusGuy

Any idea how strict they are if you live in Fl but “volunteer” in one of their eligible counties? Do they do any sort of follow up or verification after the app?

Geo

They call to verify address and you have to upload drivers license copy

newbie
newbie

soft or hard pull? anyone?

nick
nick

does anyone know if i can open an account online and still get the bonus? i live in pinellas county and closest branch is a hike and in orlando area.

Looney Tunes
Looney Tunes

Pinellas county is one of the listed counties that shows when you apply online making you eligible so why would you not get the bonus?

Geo

In pinellas and approved yesterday. Have to upload photo of your ID for address verification.

Grand Funk
Grand Funk

I read through the comments and I saw that people who applied already got asked for a copy of their driver’s license. Has anyone who got approved used an out of state license? My address is in Florida, but I have an out of state license. I’m also overseas for the next few months and I was thinking of applying online, so likely they will ask me to upload a copy of my license. Just wondering before I waste time trying to apply. This bonus seems pretty good.. and keeping just $250 in the account doesn’t sound too hard.

Grand Funk
Grand Funk

I read through the comments and I saw that people who applied already got asked for a copy of their driver’s license. Has anyone who got approved used an out of state license? My address is in Florida, but I have an out of state license. I’m also overseas for the next few months and I was thinking of applying online, so likely they will ask me to upload a copy of my license. Just wondering before I waste time trying to apply. This bonus seems pretty good.. and keeping just $250 in the account doesn’t sound too hard.

Snowbird
Snowbird

When you apply to open an account online, it asks for document uploads. Along with your license, one of the things they ask for is proof of residency if your address doesn’t match what’s on your license. Seems it should be worth a shot for you if you’ve got that available to you.

Grand Funk
Grand Funk

Thanks for the info. I normally use credit / bank statements for showing my Florida address. But it only works about 80% of the time.

Michael Denner
Michael Denner

What’s it mean, “Savings account required at account opening”? Does that mean a savings account there, at Addition? Or more theoretically? Do they enforce it, if it’s required at Addition?

Austin Auclair
Austin Auclair

Yeah they require both

Looney Tunes
Looney Tunes

Most if not all credit unions require a share (savings) account that allows you to establish your ownership in the credit union with a minimum deposit and a one-time membership fee.

In the case of Addition Financial, that is $5 for the savings and $10 for the membership fee.

Wayne
Wayne

I just applied. Does my DD have to be for the entire 6 months to avoid the monthly charge even if I have more than the $250.00 in the account?

Michael Denner
Michael Denner

DP: I had to open a savings account for this bonus. You can fund up to $3000 from a CC. I used a Chase card with a zero cash advance… I guess it went through as a purchase, since I was approved. I’ll post with any update, further info. The Savings account took, maybe, 15 minutes to apply for online. I did it now so I wouldn’t have to bother with applying when I opened a checking account for the bonus (just staging things).

RB
RB

What Chase card did you use to fund the $3000?

Grand Funk
Grand Funk

What Chase card did you use? I’m thinking to use the CSR.

Michael Denner
Michael Denner

I used my Sapphire Preferred… It went through, no problem, as a purchase. The bank itself isn’t the smoothest operation, and I couldn’t set up a Fidelity transfer to test that as a DD. They’ve changed their name several times over the years, and Fidelity rejected online linking, presumably because of this name change issue. Also, the reps are nice, but clueless and the links on the acct pages are dead… Sigh. Makes me like Chase.

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