Posted by William Charles on August 11, 2019
Bank Account Bonuses

Published on August 11th, 2019 | by William Charles


[ID only] Cap Ed Credit Union $100 Checking Bonus – No Direct Deposit Required

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: ID only
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: See below
  • Hard/soft pull: Soft 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

  • Cap Ed Credit Union is offering a bonus of $100, they will also give $100 to an Idaho school. To receive the bonus you need to meet the following requirements for the first three full qualification cycles:
    • Have a monthly direct deposit or electronic payment (payroll direct deposit is the simplest)
    • Enroll in CapEd eBanking and eStatements
    • Have at least 12 debit card purchases that post and settle during the monthly qualification cycle

The Fine Print

  • To receive your $100 deposit and give $100 to your selected School District/Foundation, earn the 2.50% APY on balances up to $10,000, and get the ATM fee refunds, you must meet qualifications in any of the first three full qualification cycles after your account is opened.
  • To meet qualifications, 12 debit card transactions must post and settle to the account during the qualification cycle; at least one direct deposit or automatic payment must post and settle this account during the qualification cycle; and, be enrolled in and agree to receive eStatement notices.
  • 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 no monthly fees to worry about.

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 or not.

Our Verdict

Nice bonus as there is no direct deposit or monthly fees to worry about. I’ll be adding this to our list of the best checking account bonuses.


Hat tip to reader John C

Useful posts regarding bank bonuses:

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shouldn’t this be labeled Idaho, not Indiana??

Matthew Greer
Matthew Greer

Came here to say the same thing.


CapEd did not complete a hard pull when I opened my checking account. But, in my experience, even if you agree to enroll in paperless statements and have access to estatements, as required, they may still send the paper statement and invalid you from the promotional terms.


Per their terms this shouldn’t be Idaho only, as one of the 4 criteria for being eligible for membership is becoming a member of the Idaho CapEd Foundation, which anyone can do through a one time $20 membership fee. However when I applied from out of state using this method I was told my identity couldn’t be verified online (even though I included a picture of my driver’s license in the initial application) and to come into a branch with my ID and social security card. I called and after talking to her manager the employee told me there was no way to verify identity outside of visiting a branch in person.

So, just to save others the hassle, yeah, you SHOULD be able to open this account out of state per their terms, but they won’t actually let you.

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