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Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â Must be opened in branch, all branches are in MI [Branch locations]
- Direct deposit required:Â Yes, no minimum mentioned
- Additional requirements:Â See below
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â Unknown
- Early account termination fee:Â Unknown
- Household limit:Â One
- Expiration date:Â December 11, 2021
Contents
The Offer
- Polish American Credit Union is offering a bonus of $200 when you open a new checking account and complete the following requirements:
- A monthly direct deposit must be established by December 31, 2021
The Fine Print
- To earn the $200 bonus, open your new Preferred Checking Account between October 1, 2021 and December 11, 2021.
- A monthly Direct Deposit (ACH) must be established by December 31, 2021. Direct Deposit may include payroll, government payments (i.e. Social Security), or pension.
- Current members ineligible.
- Five dollar deposit required for membership (savings account).
- Savings account required to open Preferred Checking. Preferred Checking requires eight debit card transactions (Non-PIN) each month.
- First $7,500 in account earns higher dividend rate.
- Remaining balance earns regular savings rate.
- Bonus may be taxable as interest income and reported to the IRS Form 1099-INT.
- $200 bonus will be paid in April of 2022 when Preferred Checking Account requirements have been met in the first quarter of 2022.
- Must not have closed a PAFCU membership since January 1, 2019.
- The one-time bonus is available to only one individual per residence.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
I’m unsure if this account has a monthly fee or not
Early Account Termination Fee
I wasn’t able to find any EATF in the fee schedule.
Our Verdict
Need to know if it’s a hard or soft pull to open and what the monthly fee is if anything.
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
