Posted by William Charles on September 25, 2019
Bank Account Bonuses

Published on September 25th, 2019 | by William Charles

74

[FL only] GTE Financial $200 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: All locations are in FL, so I assume FL only
  • Direct deposit required: Yes, $500+
  • Additional requirements: Use promo code
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $500
  • Monthly fees: $4.95, not waivable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: October 31st, 2019 November 30th, 2019

The Offer

Direct link to offer

  • GTE Financial is offering a bonus of $200 when you open a new GTE Go Premium Checking Account and complete the following requirements:
    • Use promo code GTE200
    • Set up a direct deposit by November 30th, 2019

The Fine Print

  • Full Go Checking details, disclosures, and requirements can be found on this page.
  • Direct deposits must be from an external source, such as an employer or government agency, direct deposits from another GTE Financial account do not meet the qualifications of this incentive offer.
  • GTE Financial reserves the right to end this promotion at any time.
  • Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
  • This offer cannot be combined with other incentive offers from GTE Financial.
  • Current GTE Financial members who have not previously had a checking account with GTE and new members who join between 8/6 and 9/30 are eligible for this incentive.
  • 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 a $4.95 fee that cannot be waived

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee in the fee schedule

Our Verdict

Not much time to open the account and complete the direct deposit, so if interested I’d recommend signing up now.  It’s annoying you can’t avoid the $4.95 fee, but given there is no early account termination fee and the bonus posts quickly it doesn’t matter too much. Not really worth considering due to the hard pull unfortunately.

Hat tip to readers John C & Patrick S

Useful posts regarding bank bonuses:



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Dan - Legal Bank Robber
Dan - Legal Bank Robber

Can solidify it is a HP got dinged a while back when we were unsure of soft/hard pull.

Dan
Dan

Not sure if a hard pull if you are already a member of the CU though…

Danno
Danno

When I got an account with them, it was a hard pull. I remember because it was the reason I got their credit card as well. They combined for one hard pull. Since being a member, I haven’t had any more hard pulls for many deposit account openings (10+).

Flea
Flea

Does that mean you have a DP as to whether or not non-FL residents can get an account? 🙂 Or were there no state restrictions at that time?

(I was born in Niagara Falls so I generally remember well where you are, lol! I’m not stalking you)

Dan - Legal Bank Robber
Dan - Legal Bank Robber

No state restrictions at the time IIRC.

Flea
Flea

Thanks!! 🙂 Bummer, guess I won’t be cashing in this time…

Gadget 🕵️

We have proof of no state restrictions now… in recent times.

Chase-ing UR points
Chase-ing UR points

William Charles
The page mentions setting up a direct deposit of $500 or more. I opened a checking ($500), savings ($500), & CD ($5,000) the end of August with Barclay Arrival+ and no HP on Experian or Transunion (I’m not sure about Equifax). Since the terms say it can be opened in branch or online, maybe you’d be able to open outside of FL? There’s the ongoing $25 referral bonus also (Idk if it can be stacked, but I think there was a separate box for a promo code and referral code when I opened my account last month)

Chase-ing UR points
Chase-ing UR points

Also, data points #1 & #2 for the hard pull were redirecting to Ebates

Patrick
Patrick

I opened online. Still trying to figure out if opening a cd or share deposit with have another HP. If not than I’d like to dump some of my Credit Card Spend on here

missjenniferd1🦉 🦁

its a hard pull on Equifax. immediately after submitting application. (before even being approved)

A new inquiry was just added to your Equifax credit report

missjenniferd1🦉 🦁

what i got immediately after submitting application. (before even being approved)

A new inquiry was just added to your Equifax credit report

Danno
Danno

Per their Fee Schedule: “Closed Account Within 180 Days: $25 (or balance if <$25)". So I guess no fee if there's nothing in the account? Maybe they'll pull it from another account with them? It isn't clear. And the account "pays" 2% on balances up to $3,000 which just about covers the monthly fee. I did a similar promo with their "Go Full" account and got paid, and I'm out of state. The only thing for someone out of state like myself is just to be ready for a phone call asking why you're interested in a credit union from far away. I told them I liked their CD rates (ha) and they were cool.

Danno
Danno

Also, here’s their fee schedule. Nothing too crazy, but certainly not as easy-going as your average credit union. Personally, I’d recommend that anyone dealing with them read all disclosures and this pdf very closely.

https://www.gtefinancial.org/File%20Library/GTE/PDFs/Member-Schedule-of-Current-Charges.pdf

tuphat
tuphat

If anyone applies to be a member, I would appreciate your using my referral code: Q492936L0O (penultimate character is a zero, last character is the letter O). Thanks for considering.

tuphat
tuphat

THANK YOU to whoever used my referral code, I really appreciate it!

arizonapv
arizonapv

tuphat tuphat, what do you get if you refer someone?

nick
nick

any DP on what counts as direct deposit? my normal check is biweekly and it is few days after expiry.

Steve F
Steve F

I get “Promo code not available, please try again.” when I enter GTE200 on the promo code page.

I live in Michigan but have been a member of GTE Financial since May 2018. Also it’s worth noting that while the direct link above does indeed open the $200 offer page, if you click on the “current offers” link to the left, there is no mention of the $200 checking offer.

Angelica
Angelica

How is that accounts opened up until 09/30 qualify for the promotion, but at the same time require a direct deposit by that same deadline?

arizonapv
arizonapv

If you open an account, please mention my referral code: G572159WQJ

Gadget 🕵️

Used.

arizonapv
arizonapv

Thanks Gadget!

Looney Tunes
Looney Tunes

Looks like the promotion has been extended:

“new members who join between 10/01/2019 and 10/31/2019 are eligible for this incentive. Account incentive will be deposited into qualifying member’s checking account by 12/16/2019 and Direct deposit must be set up by 11/30/2019”

arizonapv
arizonapv

Anyone else have trouble opening the Debit Card envelope? Mine arrived today.

Gadget 🕵️

Was it made of steel? 🙂 I bet I have a gadget that could open it. 🧪🔨

arizonapv
arizonapv

I had to cut all around the edges with scissors to open it. !!!

Gadget 🕵️

Interesting. Haven’t seen that before. I think the strangest one I got was a very tiny envelope… just a little bigger than the card itself. I can’t recall the bank though. I think it was Simple… when I opened my account a year ago. The latest card I got to them wasn’t in the tiny envelope… probably realized they were getting lost.

Gadget 🕵️

Just out of curiosity…. did anyone try this with EQ locked/frozen?

Patrick
Patrick

Any DP on the Bonus?

Gadget 🕵️

DP in progress – Trying this with EQ froze. I imagine they will make me thaw it, or deny me. If I can’t avoid the HP, I will ask if they can pull a different report. I am willing to go through some hassle to avoid an EQ pull, since it’s the east coast report of choice.

Couple suggestions for someone applying:

When starting to fill out the application, if you can’t meet normal residency or workplace, worship reqs, you can use CU Savers program, which says very clearly it has a $10 fee. It is waived once you select it.

On the first data entry page of the application it asks for the referral code. I hope to have one soon. I used arizonapv’s code.

On the last page of the application it asks for the promo code – I was surprised to see it was blank. Don’t forget to apply GTE200 before hitting submit. It will get a green check-mark and says it’s applied.

Gadget 🕵️

After Midnight, received e-mail. Subj: Additional Info Needed. Says I will be contacted within one business day to complete application. Gives a link to a portal, but I see nothing new. No document requests. Left them a cheery message that I look forward to getting the account setup.

Joey Doughnuts
Joey Doughnuts

I just applied a few minutes ago and was given the same message as Gadget. I’m thinking I will wait to see if I get approved and if so try opening up an account for my wife (with a referral code).

Gadget 🕵️

From what I gathered, they take a few days to get the account open based on the comments of last month’s partakers. If they don’t extend the promo, that won’t work to refer the wife with your own code. Flip a coin…

Joey Doughnuts
Joey Doughnuts

I was just thinking that myself Gadget. They may even end the program a day or two early. I went ahead and applied for my wife as well.

Gadget 🕵️

Because of the expected HP, and the lack of people reporting a payout (because the date of payout is not here yet), I don’t think it would die early. But, you never know. They aren’t a huge CU, so I imagine it won’t take much to shut this down.

Brian C

Gadget 🕵️ what ever happened with your application attempt with eq frozen?

Did your account get opened?

arizonapv
arizonapv

That’s their standard form letter. I opened my account on Oct 1 (got the same email that you did) and then a few days later (Oct 4) got the welcome email, Subject: Your New Go Premium with GTE Secure™ Checking

Gadget 🕵️

Still in limbo on this one. Contacted Chat Monday – was told to wait 48 hours, starting on Monday morning. Today, Wednesday, called. It took a good 30 minutes on the phone. Usual questions about what the account would be used for, but some silly ones too. Have I moved, have I had any accounts opened recently. I listed off my newest credit card. No way was I going to open that can of worms unless they had specific questions. Also, she asked if I had anything going on where they couldn’t access my “score”. I played stupid, and said I didn’t think so, but I had signed up for different credit monitoring services. Finally I got asked to upload my D/L, Proof of Residence (util bill), and Proof of Funding (CC bill). I explained I already uploaded the first two and the CSR verified they were legible. There is no slot to upload proof of funding, so I uploaded to ID slot per their request, and she verified it was there

I was thinking it should be good to go, account open while I wait. WRONG! Got told they will continue to process the application and will contact me in 24-48 hours. LOL. Not winning any speed awards. This is where I am going to be screwed if they deny the account and the promo doesn’t get extended.

Gadget 🕵️

Sometime this afternoon or evening, I went from a status of “Referred” to “Pending”. Nothing hit my CC yet. Seems about as much fun as watching paint dry.

Joey Doughnuts
Joey Doughnuts

Well I’m glad that I went ahead and applied for my wife as well because we both got approved today which is one day before their 10/31 deadline. We both had to upload our ID, social security card and Utility bill. Gadget, it looks like freezing your credit report slowed things down for you because your account should have been approved before mine and my wife’s account. Anyway, I wouldn’t worry too much because even if they open your account past the 10/31 deadline, they will probably let you be eligible for the bonus since you applied days ago.

Gadget 🕵️

Yeah, I am not giving up hope yet. As long as they don’t just cancel the app, they should honor the promo based on signup date, not approval date. What’s going to upset me is if they wait until Nov 1 to tell me I didn’t qualify, just to get me out of their queue.

Brian C 🐕

Gadget 🕵️ what ever happened with this?

Gadget 🕵️

Still pending. I got tired of contacting them. Eventually I suspect they will just delete the app. Will call this week.

CK9
CK9

Doc, why is this labelled “FL only”? It looks nationwide to me and can be opened online (did not see any specific language). I was able to open a GTE credit card (for $300 bonus) in 2017 via online application. I do not live in FL.

Gadget 🕵️

CK9 DoC doesn’t always change the states, probably because at any given time the bank/CU could change it back to local footprint. Also, notice nobody has said the bonus has paid out… so it’s better not to promote it as nationwide until we have proof the promo works outside FL.

Duke I.
Duke I.

bonus isn’t paid until December 16th

Gadget 🕵️

I understand that, but banks don’t always wait until last minute. Also, not sure if Sept openings had the same bonus payout date, probably had Nov 16th? Regardless, I am just stating DoC doesn’t repost until you have proof of life.

CK9
CK9

Thanks Gadget for the reply. Probably not many people view this thread due to “FL only” header, therefore not many people applied, thus there are no DP!!! Actually, their (GTE) system is not fully automated; even for the advertised/legit $300 CC bonus, I had to write an email to get it. But their CS is super good (based on my experience in few interactions with them) and they posted the bonus in my account within 24 hours after I emailed them. I was about to apply for this $200 bonus, but I was checking first if I am missing anything (any restriction language) before I apply.

Gadget 🕵️

Well, I see a few regulars on this one… OH/NY, TN, AZ, VA, representing. 🏆 Salute to the world champion bank bonus miners!
They will report back if it works, or if it doesn’t. William Charles doesn’t like death threats when bonuses don’t workout, so yeah, I imagine it will stay FL for now. Besides, it appears it takes them at least 4 days to open an account without hardly any activity on this page… do we really want to flood them?

CK9
CK9

ha ha ha !!!

Joey Doughnuts
Joey Doughnuts

Delete

Joey Doughnuts
Joey Doughnuts

Gadget read post 832911 by Patrick. His bonus paid out and he’s in NY. Obviously it’s only one data point but I only skimmed through the comments really fast. Anyway, it looks like we need to have one direct deposit of $500 or more for November and December and we get paid by December 16th.

Gadget 🕵️

Yeah, that just got posted earlier today. It’s kind of impossible to tell what the payout plan will be with only one DP. I plan to hit it with a couple ACH, and my real DD will hit Nov 29th – next one wouldn’t be until the end of Dec. There is no mention of it having to be a reoccurring DD, so I don’t believe you need two months of DD’s. That’s if I even get an account.

Joey Doughnuts
Joey Doughnuts

Yea I guess only one direct deposit is needed. It says-“Through October 31st, when you open a Go Premium with GTE Secure™ checking account, and set up a direct deposit totaling $500 or more per month, we’ll deposit $200 in your new checking account! Since they say that they will pay the bonus by December 16th, you just need to make sure you have a direct deposit in November of $500 or more.

Gadget 🕵️

Nope, we already missed October. Better luck next year. 🙄 Pretty sure it won’t play out like that, but anyway, if Chase works, I am sure other means will too.

Joey Doughnuts
Joey Doughnuts

Your first direct deposit needs to be by November 30th so you don’t need one in October.

CK9
CK9

great. Thanks for the info (/help).

Patrick
Patrick

William Charles Dan - Legal Bank Robber Have a dp:
opened 9/19-$500 CC spend
9-27 $501 chase ach
10-10 first montly fee $5
10-21 $513 chase ach
10-28 $200 bonus added to account.
Can either of you tell me if I need to wait in order to close this account or if there are any fees in doing? Also I applied from New York for this bank account.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Did you get a Hard Pull?

arizonapv
arizonapv

Yes, it was a Hard Pull

Dan - Legal Bank Robber
Dan - Legal Bank Robber

They did not charge me an ETF, you can close.

Gadget 🕵️

I assume you got the bonus. What was your timeline? DD DP?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Real DD, this was years ago

Gadget 🕵️

Ahhh, ok… thanks.

Gadget 🕵️

Dan - Legal Bank Robber had an account years ago. The ETF on the fee schedule was discussed here: https://www.doctorofcredit.com/fl-only-gte-financial-200-checking-bonus/#comment-814733

I am thinking if you zero the checking, ask to close it… and leave the savings open, you would be fine. Because you will still have a Credit Union account, but not a checking.

But, only one way to find out.

Patrick
Patrick

Sorry just saw this. Yes I did get a Hard Pull. Easy bonus for $200 but probably not worth it. Happy at least I got a bonus.

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