[Expired] [OH only] Telhio Checking & Savings $200 Bonus

This offer has now expired, go here for the latest bonuses.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Have to live, work or worship in Franklin County and the surrounding communities including Canal Winchester, Dublin, Galloway, Johnstown, London, Orient, Pataskala, Pickerington, Powell, Reynoldsburg, and Westerville
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Hard (Equifax)
• Credit card funding: Unknown
• Monthly fees: None listed
• Early account termination fee: Account must stay open for six months or longer
• Expiration date: December 31st, 2014

The Offer

Direct link to offer

• Receive up to $200 bonus with Telhio Credit Union:
  • $75 cash bonus when you opening a new checking account and Telhio Visa debit card
  • $100 cash bonus when you open a new checking account, opt for electronic statements and a Telhio Visa debit card
  • $200 cash bonus when you open a new checking account, opt for electronic statements, Telhio Visa debit card and a Telhio savings account with at least $5,000

The Fine Print

• All requirements must be completed within 60 days of opening the account
• This promotion cannot be used in conjuction with any other offer
• Bonus will be given upon verification
• Valid until December 31st, 2014
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

$5 Membership Fee

You must pay a $5 membership fee to open share savings account which is required to open a checking account

Early Account Termination Fee

The fine print states that you must keep the account open for a minimum of six months to avoid any early account termination fees.

Our Verdict

If we assume that you need to keep the $5,000 deposited for the full six months, you’re basically forgoing $25 in interest compared to holding it in a 1% checking account. I like this bonus because it seems pretty easy to actually hit the requirements, the fact that it’s not known whether it’s a hard or soft pull to open make it a deal breaker for me. I also don’t live within the service area. As always, make sure you check out what we think are the best current bonuses and a full listing of bonuses can be found here.

They also have a high yield rewards checking account that earn up to 2% on balances between $5,000 and $14,999. If you could park the $5,000 in there then this deal would be much better.

Direct link to offer | Screenshot of offer