Deal has expired, view more checking bonuses by clicking here
Offer at a glance
- Maximum bonus amount: $200
- Availability: NY only
- Direct deposit required: Yes, $500+ for three consecutive months
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: Unknown
- Early account termination fee: None
- Household limit: None
- Expiration date: March 31st, 2019
Contents
The Offer
- SECNY Federal Credit Union is offering a bonus of $200 when you open a new checking & savings account and complete the following requirements:
- Opt in for a debit card, online banking & eSatements
- Receive a direct deposit of at least $500 for three consecutive months
The Fine Print
- $200 bonus available to Perks members who open the following qualifying services and are in good standing for a period of 90 days: Savings, Checking, Debit Card, Online Banking, eStatements and Direct Deposit with minimum $500 successfully deposited for three consecutive months (90 days).
- All new accounts subject to ChexSystems verification.
- Cash bonus will be direct deposited to member’s 01 Share Savings account in the month following 90-day period provided all qualifying service requirements are met and member is in good standing.
- Bonuses are considered interest and will be reported to the IRS. Certain conditions apply.
- Offer subject to change without notice.
- Valid January 1, 2020 through March 31, 2020.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Not sure if there is any monthly fee or not
Early Account Termination Fee
I wasn’t able to find an early account termination fee in the fee schedule
Our Verdict
Odd to see a business bank bonus that requires a direct deposit. We really need to know more about this bank/bonus before passing judgement. If anybody goes for this deal then please share your experiences in the comments below.
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
Field of membership seems to be restricted to Central New York (Syracuse and environs). Interestingly, they have branches in two junior/senior high schools.