Posted by William Charles on July 27, 2019
Bank Account Bonuses

Published on July 27th, 2019 | by William Charles

2

[IN, Must Be Student Aged 16-24] Allegius Credit Union $200 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Must be 16-24 and a student , IN only
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Allegius Credit Union is offering a bonus of up to $200 to people who are attending school and aged 16 to 24. Bonus is broken down as follows:
    • Must use promo code BTS
    • Get $50 for becoming a new member and a further $50 approximately 60 days after date of account opening (must receive a minimum automatic deposit of at least $50 per month during this period)
    • Get $50 for opening a new Kasasa cash back checking account and a further $50 approximately 60 days after date of account opening (must receive a minimum automatic deposit of at least $50 per month during this period)

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Kasasa cash back checking account has no monthly fees to worry about

Membership Fee

Need to have an immediate family member that is a part of a credit union, work in one of the select employer groups or pay $25 to join the independent cat society

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee

Our Verdict

Seems to be a good bonus if you’re eligible, but it’s obviously very narrowly targeted. We also don’t know if it’s a hard or soft pull to open the account. If anybody goes for this, please share your experiences in the comments below.

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JeffK
JeffK

No ETF according to the linked page: “There are no recurring monthly service charges or fees to open or close this account.”

My daughter is eligible (17, IN) so this account looks really good for her. Also provides some other amazing benefits for a student account:

4.00% cash back on debit card purchases
No category restrictions on purchases
Cash back earned on up to $200 in purchases monthly
Earn up to $96 cash back per year, $8 per month
Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)
No minimum balance to earn rewards
No monthly service fee

The 4.00% back requires e-statements, use of online banking & 12 debit transactions/month.

Will report back once opened.

BrianC
BrianC

It is a hard pull. Just finished applying. I would avoid, they called to help me finish the signup

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