Offer at a glance
- Maximum bonus amount:Â $200
- Availability: In Branch only, NY
- Direct deposit required:Â Yes, $250+
- Additional requirements:Â None
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Up to $1,000, no American Express
- Monthly fees:Â None
- Early account termination fee:Â $20, six months
- Household limit:Â None listed
- Expiration date: September 23rd, 2017
The Offer
No direct link, they sent mailers out. Not sure if they are actually required in branch or not
- Open a new checking account and receive a bonus of $200 when you receive a direct deposit of at least $250
The Fine Print
- Offer is available for new members opening a Suffolk Federal checking account with Direct Deposit at any Suffolk Federal branch between June 17 and July 15, 2017.
- Cash back deposit will be made into the new checking account after the first Direct Deposit is received.
- Direct Deposit must be received within 45 days of account opening and be at least $250 per deposit. Account must stay open for a minimum of 90 days along with recurring direct deposits or Suffolk Federal has the right to revoke the $200 deposit.
- Suffolk Federal will not remove the deposit until contacting the member with reason for doing so.
- Limited to one bonus or cash-back rewards program unless otherwise stated.
- Membership is open to anyone who lives, works, worships, attends school or regularly conducts business in Suffolk County, NY, as well as immediate family members of current membership.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
According to the fee schedule there is an early account termination fee of $20 if closed within six months. They offer a free checking account that doesn’t have any monthly fees.
Our Verdict
They have offered a referral bonus of $100 ($100 for person doing the referring and $50 for person being referred) in the past that didn’t require a direct deposit. This bonus is significantly higher but does require a direct deposit. I think this is worth doing if you live in the target area and we can confirm it’s a soft pull. If anybody manages to open it without the flyer also let us know.
Big thanks to reader, Kris P who let us know. Learn how to find bonuses and contribute to the site here.
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- 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
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