Update 1/31/23: Available again, no end date. Might be available nationwide.
Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â ID only
- Direct deposit required: No, electronic payment is required
- Additional requirements:Â See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The 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:
- 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
CapEd pulls EWS.
Applied OOS, denied due to chex
How many in the last 12/24 months?
Applied OOS. P1 received pending status, then an email stating denial due to Chex. P2 received automatic approval, but then an email came later stating it would be denied due to Chex.
Only US Citizen and Permanent Resident. No go for Resident Alien.
May want to add only Southern Idaho. Northern Idaho residency doesn’t seem to meet residency requirements.
The “Direct link to the offer” link just take me to their homepage.
Here’s the link to the promo page: https://capedcu.com/school-resources/get-give.html
OOS Applied and went pending, couple of hours later I received this message:
“Unfortunately, we were unable to verify your identity through our online service. If you wish to continue the account opening process with us, you may do so by stopping by one of our ten branch locations. ”
So that means a No to me lol
$100 offer – I don’t see an expiration. Donate $20 to Idaho CapEd Foundation for OOS. Might be able to dodge the $20 by joining a PTO/PTA of a school listed, based on the statement at the bottom of this page: https://capedcu.com/about/membership/become-a-member.html. William Charles Chuck
“1 Volunteering in a classroom, supporting your PTO, or helping the sports boosters club are just a few ways you can show your support of education.” (donating/join their PTA is support if you ask me)
Offer seems expired
Applied from OOS. “we’re not able to process your application as the result of some identity theft red flags on the application.”
I received this bonus and I am OOS from California. I was not asked to come in branch to complete my account application.
4/21 – Applied online, paid $20 donation to join and funded mandatory savings account with $5
5/17 – $10 DD from Schwab brokerage
5/31 – Qualified for acct. requirements even though I only had 4 debit card transactions in the month of May
6/1 – $10 DD from Schwab brokerage
6/6-6/17 – Made 12 50 cent Amazon reloads with debit card
6/30 – $100 bonus posted
Since the bonus requirements mentioned that I needed to do this for 3 statement cycles instead of one to get the bonus, I will do this for another couple of months just to make sure that my bonus is not clawed back. I also like the 2.5% APY on this account, I think I will keep it for the high yield savings alone. If you are OOS, I would give it a try since there are a couple of positive DPs on this thread including mine.
Edit – I am rereading the terms and it says I only have to meet the qualification requirements for any one of the first three statement cycles. I guess I don’t have to worry about a claw back then?