Deal has ended, view more bank account bonuses by clicking here.
Update 4/22/21: There is now a bigger $250 bonus, more details here.
Offer at a glance
- Maximum bonus amount: $150
- Availability: PA only
- Direct deposit required: Yes, $300+ per month
- Additional requirements: See below
- Hard/soft pull: Hard pull (report of soft pull)
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date:
May 31st, 2020 December 31st, 2020December 31st, 2021
- PSECU is offering a checking bonus of $150 when you open a new checking account and complete the following requirements:
- Use promo code FS150
- Receive a debit card and online banking
- Establish one or more qualifying payroll direct deposit(s) that together total $300 per calendar month, recurring monthly, within 90 days of establishing membership
The Fine Print
- Participant must be U.S. Resident.
- Promotion open to persons 18 years of age or older at the time the account is opened. One promo code per new member. Additional promo code will be invalid.
- The recipient of the $150 bonus is solely responsible for payment of applicable taxes on that amount. If you have any questions, please seek the advice of a qualified tax professional.
- Qualifying payroll direct deposits are defined as paychecks, Social Security payments, and pension payments.
- PSECU reserves the right to recall the $150 direct deposit bonus if the payroll direct deposit(s) is/are not active for six consecutive months or if the member account is closed within the first year of establishing membership.
- If PSECU is unable to confirm any qualifying monthly direct deposit is a recurring payroll deposit, or if the member is not in good standing as defined by PSECU’s Bylaws Article II, Section 1, PSECU reserves the right to withhold the payment of the $150 direct deposit bonus.
- Payment of the bonus will be deposited into the Regular share within 45 days after the requirements are satisfied.
- This offer is only open to new members who meet PSECU eligibility requirements.
- All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice.
Employees, agents, and officials of PSECU and immediate family members of any of these are not eligible for this promotion.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
They offer a free checking account with no monthly fees to worry about.
Early Account Termination Fee
I didn’t see any mention of an early account termination fee in the fee schedule.
Not really worth considering due to the hard pull. I’d recommend doing one of the bigger bonuses available in your area instead.
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