Posted by William Charles on March 9, 2019
Deals

Published on March 9th, 2019 | by William Charles

8

[MD, New & Existing Users] SECU $200 Direct Deposit Bonus

Update 3/9/19: Deal is back and available to new and existing users. Hat tip to reader Alex

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: MD only
  • Direct deposit required: Yes, $500+ must be re-occurring
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $200
  • Monthly fees: Varies
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: January 31st, 2019 April 30th, 2019

The Offer

Direct link to offer

  • SECU is offering existing checking customers $200 when they complete the following requirements:
    • Set up a re-occurring monthly direct deposit of $500 before 7/31/19
  • SECU is offering new checking customers $200 when they open a new account by April 30th and complete the following requirements
    • Set up a re-occurring monthly direct deposit of $500 within 90 days of account opening

 

The Fine Print

  • Promotion will run from 3/4/19 to 4/30/19. SECU will credit one cash bonus of $200 to the new SECU checking account, if the account receives qualifying full check direct deposits within 90 days of account opening.
  • For existing members, new qualifying full check direct deposits received by 7/31/19. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person to person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify.
  • The bonus will be credited to the account within 90 days of the account receiving the required qualifying direct deposits, as long as the account is still open at the time we seek to credit the bonus, and all of the eligibility requirements are satisfied.
  • Account must also be in good standing.
  • Current employees of SECU and Shared Service Solutions are eligible for this bonus offer.
  • The bonus is reportable for tax purposes.
  • Members with existing direct deposit do not qualify.
  • Member must be in good standing at the time bonus is paid. Account must be open at time bonus is paid.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This will vary based on what account you have

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

We’ve talked about the SECU Visa Signature card before, don’t think we’ve ever mentioned the checking account. Always nice to see promotions targeted towards existing users, it’s also nice that it’s available to new users this time around as well. Because of that and how relatively easy the bonus is we will add this to our list of the best bank bonuses.

Big thanks to reader, furiouschads who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Josh
Josh

#NotMySECU

ZipZapKaZoom
ZipZapKaZoom

What counts as a direct deposit?

Alex
Alex

Deal is back and now open to new members. Same link with updated terms copied below. Yet the bonus from the original deal hasn’t posted so I contacted them via secure message. It made legitimate deposits from payroll.

*Promotion will run from 3/4/19 to 4/30/19. SECU will credit one cash bonus of $200 to the new SECU checking account, if the account receives qualifying full check direct deposits within 90 days of account opening. For existing members, new qualifying full check direct deposits received by 7/31/19. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person to person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify. The bonus will be credited to the account within 90 days of the account receiving the required qualifying direct deposits, as long as the account is still open at the time we seek to credit the bonus, and all of the eligibility requirements are satisfied. Account must also be in good standing. Current employees of SECU and Shared Service Solutions are eligible for this bonus offer. The bonus is reportable for tax purposes. Members with existing direct deposit do not qualify. Member must be in good standing at the time bonus is paid. Account must be open at time bonus is paid. Federally insured by NCUA.

Diomaiuti
Diomaiuti

This “full check” qualification has me wondering… Is there any way SECU can tell that I’m only sending part of my paycheck to them? I’ve never suspected this was possible. Can’t send whole thing because I’m also working on US Bank and WF deals that require DD.

The term is just odd…

IS250
IS250

Anyone know if they accept out of state residents (VA) in branch?

Jim
Jim

Curious about this myself. Allow some alumni group, so wonder if that is a route to qualifying

Pat
Pat

Any previous data points for this? curious to know how many months of recurring DDs were needed.

PM
PM

This is a warning for existing members. I secured message to get clarification on the terms and conditions. Although I do not have employer DD to my accounts, the rep told me I am not eligible since I have already received a DD in the past. It is not clear what exactly counts as a DD as well. Therefore, I’d be weary of trying to get the bonus if you’re a current member.

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