Update: As of 3/1/22 the account will earn 10¢ per debit, up to $25 per month, and requires $250+ a month of debit card spending. Instead of the $5 bonus. Hat tip to reader Gadget.
Offer at a glance
- Maximum bonus amount: $5 per month
- Availability: NC, SC, TN, VA
- Direct deposit required: No
- Additional requirements: 10 signature debit card transactions
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: $10, waivable
- Early account termination fee: Unknown, but might as well keep account opening
- Expiration date: None listed
The Offer
- Receive a $5 bonus every month when you open a HomeTrust Bank Everywhere Connect checking account and complete the following requirements:
- 10 or more signature debit card transactions per monthly statement cycle
The Fine Print
- A $5 cash reward will be credited to your account on the last day of each monthly statement cycle in which 10 or more signature debit card transaction have posted and settled. Maximum of $60 cash rewards per calendar year. No minimum balance to earn monthly $5 cash reward; however, a $50 minimum opening balance is required. Monthly $5 reward program may be discontinued at any time without notice. Payments subject to IRS tax reporting requirements
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
$10 Monthly Service Charge
This account has a $10 monthly fee, that’s waived if you complete with five debit card transactions or one recurring Direct Deposit.
Our Verdict
$5 bonus per month is too poor for my tastes, at $10 it would be an OK deal and $20 it would be fantastic but you’d need them to keep this bonus going for at least two years to get a measly $120 in bonuses. There are much better bank bonuses out there that I’d recommend before this one. Maybe if they allowed decent credit card funding this would be worth it, otherwise pass.
If you have any experience with this bank, then please share in the comments.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
View Comments (10)
Up to $400 bonus for this one available. Ends June 30th @will @chucksithe
Link: https://hs.htb.com/upto400
https://www.doctorofcredit.com/nc-sc-tn-va-hometrust-bank-400-checking-bonus/
FYI Northern Virginia where I suspect a lot of the VA readers live in is blocked.
A snail mail letter went out from HomeTrust Bank stating effective 1 March, the Everywhere Connect account earns 10 cents per debit, up to $25 per month, and requires $250+ a month of debit card spending.
I was using this $5 a month bonus to "pay me back" for ten 50 cent Amazon reloads, since 2018. I don't like that they issued a 1099-INT for the bonuses though.
So going forward, I would just need to do 249 one-cent transactions, and one more for $247.51 to get $25 per month. Easy peasy with @guest_1285344's mad science & 1 cent PayPal Subscriptions! Not sure if I have the moxie to try?
@will @chucksithe Although this post never got much attention, HTB has run a number of checking promo's and I am sure at least some readers retained the Everywhere Connect accounts. I would provide you a link to the new Truth In Savings, but HTB has not updated their site yet.
I normally would actually just close the account and try for a churn later, but they have blocked my zip code from being able to apply... pretty sure it was personal. :)
@guest_937404 If Venmo or Cash App counts as a debit card transaction, you've got the green light to print money by only spending $2.49 a month! That'd be just over $270 a year.
@guest_1324022 what is the "mad science" that @guest_937404 is referring to? Please tell me more about $0.01 paypal subscriptions.
@guest_1328051 Not exactly "mad science" but more like "mad optimization". You can automate $0.01 PayPal transactions to meet monthly debit card spend requirements.
https://www.doctorofcredit.com/sofi-money-matching-all-round-ups-up-to-50-in-match/#comment-1285344
I have a feeling they will find a reason to get rid of me, but I might try. Thanks for the cheerleading!
Last month they updated their online banking. Just an FYI that now the bonus posts mid-month, instead of the last day of the month. Also, 10x 50 cent Amazon reloads still triggers the debit requirements.