Update 11/14/20: Deal is back and is now $150 instead of $125.
Offer at a glance
- Maximum bonus amount:Â Â $150
- Availability:Nassau/Suffolk county on Long Island NY
- Direct deposit required:Â Yes, $100+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The Offer
- Jovia Financial Credit Union is offering a bonus of $150 when you open a new checking account and receive a direct deposit of $100+
The Fine Print
- Offer available for new and existing Jovia members from October 1, 2020 through December 31, 2020.
- Membership eligibility requirements apply.
- Existing accounts prior to the promotional period do not qualify. Offer is for new, first-time Go Green Checking accounts with a reoccurring minimum direct deposit of $100 in the checking account within 60 days of account opening.
- Cash bonus will post automatically to the members’ checking or share account and will be reported as income on IRS form 1099-INT. Must meet account qualifications to earn APY and ATM fee reimbursements.
- Free first order of checks for new accounts only. Rates subject to change without notice.
- All offers can be withdrawn at any time and are subject to change without notice. Employees, volunteers, and affiliates of Jovia and their immediate families are not eligible.
- 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.
Our Verdict
Looks like it’s worth doing considering it’s a soft pull to open and there are no monthly fees to worry about.
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
This used to be Nassau Educators Federal Credit Union. They probably paid a lot of money to a branding company to come up with a silly name.
bonus is back at $150 for $100 DD. 1.5 APY
bonus is gone
Rate reduced to 1.5%.
Does anybody have a screenshot of the original terms? (I too was now told that the money needed to remain in the account but dont remember seeing that in the offer page)
This is google cache.
https://webcache.googleusercontent.com/search?q=cache:CdEsjsUDKUcJ:https://www.joviafinancial.com/promotions+&cd=2&hl=en&ct=clnk&gl=us&client=ubuntu
This CU has a wonky system. My real employer DD said “xxxx xx payment” (and clears other banks perfectly with zero issues) I had to call in and argue with them that it was a real employer DD. They denied me the bonus “based on the code”. Will be filing CFPB.
Also DP that Schwab does not work as DD. I pushed Schwab earlier, but it was rejected as nothing appeared 30 days after my DD date.
Just to update, a couple hours after I ended the call (before I actually filed the complaint) I received a call from a manager and the bonus was credited.
Are you able to SM them to close the account or do you have to go in to a branch to close?
“The minimum opening balance of $100 must remain in the new checking account for six months”. It looks like if you close the account before 6 months or simply don’t have a balance of $100 or more in your checking account (for at least 6 months) you forfeit the bonus.
If you can debit $250/month and maintain DD you can earn 3% apy on 25k.
DD or one bill pay per month in any amount counts as well so DD is not required. The $250 debit can be a single $250 transaction or cumulative. Easier than the 10-15+ debits with no set dollar amount.
Additional DP: Venmo and MO purchase works for debit.
That APY is now 2.5%. Still higher than most accounts out there
10/21 opened account
11/27 real $100 DD
1/24 $75 bonus
1/27 $50 Amazon GC
I tried to apply but seems its not all of NY. When you try to open it has an option to select one eligibility:
I live in Nassau or Suffolk County.
I work in Nassau or Suffolk County.
I can be sponsored by an existing NEFCU member who is an immediate family member or a household member.
I attend school in Nassau or Suffolk County.
Can confirm it’s a Chex pull (did not receive any HP on 3 bureaus). I opened with its predecessor NEFCU (rebranding). Also their membership is still limited to Nassau/Suffolk county on Long Island NY.
William Charles