Offer at a glance
- Maximum bonus amount: $1,000
- Availability: Nationwide
- Deposit required: $10,000
- APY: 3.50% possible
- Hard/soft pull: Unknown
- ChexSystems: None
- Credit card funding: None
- Monthly fees: None – see below
- Early account termination fee: None
- Household limit: One per household
- Expiration date: Valid August 17 – August 31, 2026
The Offer
- GalaxyOne is offering $1,000 bonus when you open an account and deposit $10,000 or more. Use offer code: AUGUST1000 at signup.
- Must deposit within 30 days of opening. Must maintain balance for 120 days. Payout will be within 30 days following.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There appears to be a $25 monthly fee if your assets fall below $500. And so if you move funds out in the future, I’d recommend immediately shutting down the account completely.
Our Verdict
GalaxyOne is a financial platform with cash, brokerage, and crypto accounts. They have a high yield savings account in partnership with Cross River Bank which is FDIC insured and offers 3.5% APY.
This an unusually strong bonus given the option to hold the money in an FDIC high-yield savings account. In just 5 months, it nets a 10% return on top of the regular 3.50% interest.
I always get nervous when there are intermediaries between me and the bank, but looking into this it seems legit and I’m going to give it a go. GLXY is a publicly traded company, and from what I can tell the setup with Cross River is pretty direct.
Hat tip to reader JJ
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
