Offer at a glance
- Maximum bonus amount: $250
- Availability: Maybe nationwide through Tru Direction Financial Literacy Program but most likely Indiana only.
- Direct deposit required: Yes, $200+ within 60 days
- Additional requirements: 8 debit card purchases
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: $500
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: November 30, 2026
Contents
The Offer
- Inova Federal Credit Union is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Set up direct deposit and receive at least one deposit of at least $200 within the first 60 days.
- Use your debit card a minimum of 8 times within the same 60-day period.
The Fine Print
- To qualify for the $250.00 Cash Bonus, you must be a NEW checking account holder with INOVA, receive at least one direct deposit of at least $200 in your new checking account and have at least 8 debit card transactions within first 60 days of account opening. After the requirements have been met, your Cash Bonus will be deposited into your new checking account within 14 days. Bonuses may be taxable and reported on IRS form 1099INT (or Form 1042-S, if applicable). Consult your tax advisor. Limit one offer per household. Minimum opening deposit for checking accounts is $10.00. Additional requirements may apply based on checking account product selected at time of account opening. This promotional offer is available to new and existing INOVA members 18 years or older, but not for members whose accounts have been closed within previous 90 days or closed with a negative balance. Members are limited to no more than two (2) checking account bonus payments over the lifetime of their membership with the credit union. Membership at INOVA Federal Credit Union required. Offer expires November 30, 2026.
- 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 doesn’t have any monthly fees to worry about.
Early Account Termination Fee
I didn’t see any mention of an EATF in the fee schedule.
Our Verdict
Doesn’t seem like OOS applications will work but still a good deal for people that are eligible normally. If we can confirm it’s a soft pull we will add it to the best bank account bonuses.
Hat tip to reader Raj
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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 Calculate And Share Your ChexSystems Datapoints
- 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
