Offer at a glance
- Maximum bonus amount: $200
- Availability: In Branch only, NY
- Direct deposit required: Yes, $250+
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Up to $1,000, no American Express
- Monthly fees: None
- Early account termination fee: $20, six months
- Household limit: 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.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
How do I signup for these deals? I there a way to add myself to their database so that they can send the mailers out to me in future?
Little new to this world.
$100 bonus + $50 to referrer, valid until 8/12. No link, but here is referral form:
https://www.suffolkfcu.org/wp-content/uploads/2017/07/Member_Referral_Coupon_071717_081217.pdf
Cash bonus mentioned at bottom of page here: https://www.suffolkfcu.org/personal-banking/checking/free-advantage/
That’s $50 to person signing up and $100 for referrer not the other way around.
Oops – you’re right. I’ve been training a new crew and haven’t gotten much sleep in the past couple of months. 😉
No problems! Hope you get some more sleep soon, appreciate all the help on the site!
data point: Was not able to open due to having more than 3 ChexSystems inquiry
What is classified as a direct deposit?
Usually payroll or government benefits.