Posted by Chuck on May 3, 2018
Bank Account Bonuses

Published on May 3rd, 2018 | by Chuck

397

[Expired] MemoryBank $100 Signup Bonus with EarnMore 1.6% APY Checking

$100 bonus is no longer mentioned, looks like the deal is now deal. You can view the best current checking bonuses by going here.

Update 05/03/18: We’re reposting as there are no longer any requirements to earn the 1.6% APY rate. Just keep in mind other accounts are now offering up to 2% APY with no requirements and 5% APY with requirements.

Offer at a glance

  • APY: 1.6% APY
  • Availability: Nationwide
  • Additional requirements: 3 ACH deposits of $200+
  • Hard/soft pull: Soft
  • Credit card funding: Up to $500
  • ChexSystems: Yes
  • Monthly fees: None
  • Early account termination fee: None
  • Expiration date: 12/31/2018

The Offer

Direct Link to offer

  • Signup for a MemoryBank EarnMore account and get $100 bonus with promo code: TA2018

To be eligible for the bonus, you must have 3 ACH deposits of $200+ each by the end of the third statement cycle.

1.60% APY Requirements

As of 05/02/18 there are no longer any requirements needed to earn this rate.

To be eligible for the bonus APY rate, you need to do the following three qualifying activities:

  • Receive at least 1 electronic deposit such as payroll, transfers from other financial institutions, or even Popmoney each month
  • Use your debit card for at least 5 in-person or online purchases each month
  • Get your statements online

The Fine Print

  •  New monthly statement cycles begin on the 15th of each month.
  • Electronic deposit is defined as an ACH credit transaction.
  • Offer expires 12/31/2018.
  • Limit one TaxAct promo per customer.
  • Offer valid upon opening an EarnMore Checking Account.
  • $100 cash bonus earned for receipt of a minimum of 3 ACH credits of at least $200 each into the new EarnMore Checking Account. Qualifying ACH credits must occur between the day the EarnMore Checking Account is opened and by the end of the third statement cycle.
  • Cash bonus will be deposited into the EarnMore Checking Account on the first business day of the statement cycle following the statement on which the qualifying activity appeared and is reportable as interest on a 1099-INT.
  • Not valid with any other offer.
  • Offer valid with promo codes only.
  • $50 minimum opening deposit.

Our Verdict

We wrote about the MemoryBank offer last year when it was just a high APY rate (back then this was a high rate); now they’ve added the $100 bonus for TaxAct customers. I assume anyone can add the promo code and get the offer attached.

$100 signup bonus for a checking account is on the low side, but readers point out that for an easy bonus like this + $500 in card funding it’s not a bad offer to do, and it’s available nationwide. We’ll add this to our List of Best Bank Bonuses.

Would be even better for someone who wants the 1.6% APY checking rate on balances up to $250,000. That said, there are monthly requirements to get this rate, as mentioned, and 1.6% isn’t even the best rate around anymore which makes the deal as a whole much less enticing. Check our List of Best Savings Accounts for up to date information on best interest rates available.

Hat tip to reader CJ



397
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Thomas
Thomas

What is the best high interest checking or savings that has no requirements?

MoreSun
MoreSun
Jenn
Jenn

Was able to fund with Capital One Spark Business. Went through as a purchase

Duke I.
Duke I.

I don’t usually go for anything less than $150. But since the requirements are minimum and can use Capital One Spark Business, I’ll go through with it.

Bob
Bob

Used Citi DoubleCash card. Posted as a purchase.

Shaun
Shaun

$100 with no DD requirement and $500 credit card funding? Seems like y’all would be higher on this one. $100 may be low but with no DD or debit card uses it’s easy peasy.

HoodWinked
HoodWinked

The ChexSystem’s pull can be used better elsewhere for some of us

Shaun
Shaun

True, I’ve yet to be denied due to a high number of Chex pulls though and it seems like I hit it pretty hard.

Just my own anecdote. Others probably hit it harder and have been denied.

Superchurn
Superchurn

can confirm. recently denied for Key Bank due to chex. will still do this one though since its so easy and can knock out $500 of min spend to boot

E
E

Dis you get denied on this one?

Adam d
Adam d

if a bank is chexsystems senstive anything 5+ youre getting denied, history is for what 7 years? so its pretty short sigted to save your chex inquires, these arent cc inquires were talking about.

Will Ryan

I’ve never had an issue with that. By the time a new decent account comes along, I seem to be fine with Chex. I wish I had the problem of needing to be more selective =/

Duke I.
Duke I.

In case someone ask

Termination
Your account can be closed at any time for any reason by either you or the Bank. We may require your account to remain open
until all outstanding items clear your account. We will close your account if you notify us that your checks have been lost or
stolen. If there is a collected balance when you close your account, we will forward the funds to you.

Asad
Asad

Successfully opened. Tried funding with SPG and didn’t go through. Tried AA Plat next and coded as Professional Services. I’m curious to see if opening multiple accounts will be possible for min spend purposes

parrothead
parrothead

Not if you open them at the same time. Just tried. Funding page would only allow $500 between the two accounts on a credit card :/

Brad
Brad

SPG Biz or personal?

t
t

Did you get immediate confirmation and account number?
Used Personal SPG – no confirmation of fund going through. Received email that says we will follow up in 2 business days. I had to upload a picture ID (driver’s license).

Mike A.
Mike A.

I successfully funded $500 with a SPG Personal AMEX last month.

Adam
Adam

What is your current cash advance limit with the SPG?

Brad
Brad

What qualifies as an ACH deposit?

Is it proper to assume AmEx won’t wirk for funding because of new ToS?

Alex
Alex

I think pretty much any ACH relationship you have with another bank.

I’m gonna use discover

Brad
Brad

So just move money from my checking account in 3 installments of $200?

KP
KP

Seems that’s it. Ridiculously easy so I know you’re like “what’s the catch?” lol

Brad
Brad

Would it be better to send the money as a bill pay or can it just be a regular digital transfer?

t
t

just checking back – did Discover work. My 3rd ACH is still pending. Just curious how long it takes to receive bonus

Lee
Lee

Discover worked for me!

AllwaysLearning22
AllwaysLearning22

Did you get the bonus yet?
I opened on 5/5 and met requirements on 5/11

Jeff G
Jeff G

Bonus happens on the 16th of every month.

AllwaysLearning22
AllwaysLearning22

Yep, posted as clockwork. Probably the fastest bank bonus I have ever gotten.

5/05 – applied, approved, established online login
5/07 – initial $500 (from CC) deposit posts
5/08 – verification small depostits from hub account post
5/10 – 1st $200 ACH
5/10 – 2nd $200 ACH
5/11 – 3rd $200 ACH
5/15 – statement closes
5/16 – shows $100 “Pending” for Rewards Earned: MB – TaxAct

Brad
Brad

What bank did you use for the ACH? They were pushes, correct?

zjts
zjts

were you a user of taxact?

JuicyJosh
JuicyJosh

Probably no one was. Well, at least didnt find out about the offer that way.

Johnz
Johnz

Does this small print on the offer page mean I have to be a TaxAct user to get the $100?
“The $100 in Bonus Cash described above is intended for users of the TaxAct tax preparation software who meet MemoryBank’s eligibility requirements and other terms, and is offered and administered by MemoryBank.”

Shaun
Shaun

I think it depends if there is data sharing between TaxAct and MemoryBank to confirm customers.

I used TaxAct in 2014 so I’m technically a customer.

joe
joe

PRG went through for $500.

Alex
Alex

Doubt they cross reference Tax Act. At least initially. I would get in before they start to look at other things

Mike A
Mike A

That’s a great question about being a TaxAct user. Even though I don’t intend to use their service, I signed up a free TaxAct account and am retaining the automated email confirmation of “starting” my taxes using this service. Technically my minute spent on the TaxAct website makes me a user of their software.

Jake
Jake

Same here – creating a TaxAct account is free and takes about a minute, so I did that before signing up for this account. Thanks for the suggestion!

JJM292
JJM292

DP: Amex PRG Personal was accepted as a payment method for $500. It is currently pending as a “Business Services: Other Services” Purchase.

stingerzing
stingerzing

Application declined. Most likely from Chex inquiries. I’ve opened 30+ accounts in the last year and a half.

gli
gli

I too have a multitude of CHEX inquiries – I was instantly approved of. They do ask the verifying questions.

Alex
Alex

Ya I doubt you got declined due to Chex. I’ve had a TON of inquiries and I got approved

Superchurn
Superchurn

good to know. definitely applying now

Sexy_kitten7
Sexy_kitten7

I was also declined (likely due to Chex). My report is clean aside from 24 HPs (just pulled it 3/2/18).

AnameOfaguy
AnameOfaguy

I was declined too. Have about six chex inquiries in the last year but four in the last month. Unitus Credit Union (OR) was kind enough to pull my Chex twice and then refused to retract one of them.

Alex
Alex

So if I read the terms correctly, each of the $200 can be posted in the same cycle right? Can I just push $200 from discover three times and be done with it in the same month? Or does it have to be one per statement cycle?

Alex
Alex

Funded $500 with Citi AAdvantage. Pending as Professional Services.

Does not appear to be Chex systems sensitive, approved and got an account number. I’ve lost track of how many new accounts I’ve opened.

Hopefully they dont come back later with a letter stating account closure. I’ve had a lot of that lately with other banks/credit unions

Shaun
Shaun

Funded $500 with 1st National Bank Travelite Amex. Went through just fine. Can’t see what it’s charged as, 1st National is slow with showing pending items.

Shaun
Shaun

Travelite Amex charged as Professional Services

Duke I.
Duke I.

I haven’t been able to log in after given the opportunity to create a username and password. Is there a wait time before one can log into the account?

Alex
Alex

When you first created a username/password, that was for application.

You then have to go into online banking and enroll with account number. I’m still waiting after enrolling because the application is in “process”

Duke I.
Duke I.

Thank you!

Superchurn
Superchurn

DP:

Approved!
39 new accounts in the last 24 months
27 new accounts in the last 12 months

not inquiry sensitive it seems

Funded $500 with personal SPG, pending as “Republic Bank”

Got immediate account number, which is handy for initiating ACH transfers immediately

Alex
Alex

How do you initiate transfers immediately without verifying trial deposits from a bank?

Superchurn
Superchurn

i havent done it yet, but having the account number lets me set it it up right away (is what i meant)

Alex
Alex

Oh ok gotcha

Baz
Baz

Santander lets you push ACH without trial deposits. Just make sure its the right routing/account numbers lol

Johnz
Johnz

Alex, If your checking account’s Billpay is the Ipay brand you can likely do push ACH’s without trial deposits. 3 of my Checking accounts’ Billpay are from Ipay and each allows but in different ways. I can’t speak for all Ipay Billpay versions. It’s a great feature: as soon as I know its routing & account number I can ACH funds to a new account.

Alex
Alex

Thats awesome thank you!

Superchurn
Superchurn

I was looking for the routing number, but it wasn’t on the account number screen, and google knows nothing. have you made any progress in finding it yet?

t
t

091017620
It’s under the Direct Deposit Agreement Form
For some reason my employer can’t locate this routing number… looks like I might have to go with Discover ACH

Superchurn
Superchurn

thanks!

yeah, considering regular ACH works anyway, probably easier than futzing around with a real DD

Superchurn
Superchurn

Had to upload Utility bill and Drivers License scan, then allowed to enroll for online banking a few minutes later

still dont see their routing number on the online banking interface 🙁

Shawn
Shawn

Applied showing “in process”. Said contact within 48 hours. Now showing referred. Reaching out now to bank. Attempted to fund with Southwest Business.

jmgh
jmgh

Shawn I’m in the same situation. Did you reach out to the bank? I did upload a copy of my ID to the website but have not heard anything back from them.

Shawn
Shawn

They approved my account. Waiting on online banking.

Brad
Brad

How did they inform you? I also got the 48 hour message/showing referred when I’m logged in.

P L E A S E M A R I A!!
P L E A S E M A R I A!!

Approved but what is the routing number? Can’t find it

Alex
Alex

I think it’s 091017620

Superchurn
Superchurn

excellent. will try this and see if it works

Alex
Alex

Yup it works

P L E A S E M A R I A!!
P L E A S E M A R I A!!

pushed all 3, two days later bonus posted, ach out

vince
vince

what bank did you push from

MJG
MJG

It doesn’t matter–it doesn’t need to be a DD, it just needs to be an ACH of any sort. I used Chase, got bonus right away.

vince
vince

okay same. it worked

Kevin
Kevin

Anyone know if this is limited to 1 per household? Wondering if I can do this for my wife too – seems like an easy $1000 in spend if we can both open an account.

Duke I.
Duke I.

If you need to meet a spend requirement you have nothing to lose if you don’t get the 2nd bonus.

William Charles

Doesn’t seem to be any household limit

Frank
Frank

This actually sees like a pretty good bank account. Easy app for $100 and CC fund

Brian
Brian

DP – Citi Double Cash ($500) coded as “Professional Services”

Jim
Jim

Great data points, thanks, folks!

Anyone successfully fund with a Chase card yet? Looking to meet some min spends, perfect for multiple family members

Fred
Fred

Funded with a Chase AARP; posted as a purchase (but my CA limit is set to $100).

ted
ted

I see this right before I submit the application: “By continuing with this account application, you authorize us to verify the information you submitted and to obtain credit reports concerning you. Upon your request, we will tell you if a credit report was obtained and give you the name and address of the credit reporting agency that provided the report. You warrant to us that the information you are submitting is true and correct. By submitting this application, you agree to allow us to receive the information contained in your application, as well as the status of your application.”

Is this really a soft pull, because it does sound like a credit application. Can someone please confirm?

ted
ted

BTW, this is inspite of the fact that I opted out of overdraft

Duke I.
Duke I.

There’s enough data points from recent posts indicating a chexsystem inquiry.

LC
LC

That and they actually “soft” pull TransUnion. My TransUnion was frozen and they couldnt pull it, told me I have 14 days to lift the freeze or give them a code from TransUnion to access.

Gmoney
Gmoney

Not a hard pull. I opened yesterday.

Daniel
Daniel

Signed up in less than 5 minutes. Instantly approved!

What’s the routing number for this account?

Superchurn
Superchurn

rumor is its 091017620

Duke I.
Duke I.

that’s the correct routing number. I got it confirmed and already transferred the 3 ACH requirements.

Alex
Alex

Are you doing all three ACH Credits via the same Bank?

Daniel
Daniel

Oh, well my checking account application was funded and processed instantly..

but when I went to create an online banking account on the next page I get this message: “Pending review
We are currently processing your application. It may take up to a couple of business days before you can begin using online and mobile banking.”

So maybe it wasn’t fully processed yet? Is everyone else in the same boat in regards to getting online banking set-up? Thanks!

Duke I.
Duke I.

Some get instant approval and some get pending review.Once the checking account is approved the next step is to get approved for online banking. It’s a two step process.

Daniel
Daniel

Yeah my checking account got “approved”.. I got my account number and a receipt for my $500 deposit. It’s just when I go to set-up online banking that’s when I get the message about my account being processed. So I was wondering if I’m the only one or if many people have the same situation

Lee
Lee

Same here! Approved and now pending for online banking. Any issues getting in? Just opened yesterday.

Duke I.
Duke I.

Submitted 3 ACH transfers today from external savings and checking accounts after verification. Will send Capital One its $500 back when funds transfer is completed.
1.$202(checking account)
2.$201(checking account
3,$200.12(savings account)

Fred
Fred

I usually try to do a bill pay or something, so it doesn’t look completely obvious.

ChaseJuggler
ChaseJuggler

Chase British Airways went through for $500. I called Chase 5 minutes before the application and told them to set the cash advance limit to zero.

I’ll update later if there’s any trouble, but I don’t think there will be.

Fred
Fred

Did Chase agree to set your CA limit to zero? They have told me they can only set it to $100 (for CFU and AARP). Not a big deal, but it’s annoying when I’m opening a credit union account and they’re going to do two or three separate transactions.

Jeremy
Jeremy

Denied. Applied yesterday and it went to pending. Logged into their chat after I uploaded my DL to see if there was anything else I needed to input. Got a notice of Adverse Action about 10 minutes later. No reason given, but the email said there would be a reason stated in a letter sent in the mail. 17 new bank accounts in the last 12 months. All open or closed in good standing.

J
J

I had something similar happen as well. When I applied 03/23, I distinctly remember it saying “Approved”, so I didn’t write down my application login. It asked for my drivers license to expedite the process.

I got a VM two days later asking to verify my DOB. I called back the next day and verified. Then crickets…

Yesterday, I did a chat with a CSR, to inquire on the status (since I didn’t have my application credentials). She said the person who handles that is gone for the day, and they would call me in the AM. Then I got an “Adverse Action” email this morning, giving no reason but stating the reason would come in the mail.

Oh well, I thought this would be an easy hundo.

J
J

Update – they called right after this, and said they accidentally let my application time-out. They said if applied again, they would approve it immediately, which they did.

Several thumbs up.

Back to Top ↑