Deal has ended, view more bank account bonuses by clicking here.
Update 9/16/23: Deal is now $300 and good through 12/31/23.
Update 1/12/23: Extended through April 30, 2023.
Update 12/18/22: Deal is back and valid until December 31, 2022. Terms have been updated to include:
Offer valid for specified checking accounts only opened through a valid Workplace Partner or designation if opened online. Offer only available for employees of organizations who are in the American Heritage Credit Union Workplace Partner Program.
Hat tip to Slowbrake
Update 4/2/22: Extended until June 30, 2022.
Update 2/19/22: Deal is back and valid until March 31, 2022.
Update 6/5/21: Deal is back and valid until 10/31/21. Hat tip to reader ISO250
Update 10/24/20: Deal is back until December 31, 2020. Hat tip to reader Eli Green
Offer might be targeted due to ‘Offer valid for specified checking accounts and by invitation only.’ language. Doesn’t seem to be enforced.
Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â Philadelphia, PA only. Anybody might be able to join by becoming a member of the kids n hope foundation
- Direct deposit required:Â Yes, $500+ per month for three months
- Additional requirements: 25+ cumulative debit card transactions per month for three months
- Hard/soft pull:Â Hard pull
- ChexSystems:Â Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â None listed
- Household limit:Â One
- Expiration date:
ÂJune 30th, 2020 September 30th, 2020December 31, 2020
Contents
The Offer
- American Heritage Credit Union is offering a bonus of $200 when you open a new checking account. Bonus is broken down as follows:
- Set up a direct deposit in the cumulative amount of $500.00 or more in each of the following full three statement cycles following the month of account opening and receive $50 per statement cycle for a maximum of $150 in bonus awards
- Receive an additional $50 bonus when 25 or more cumulative debit card transactions are made during the first three full statement cycles following account opening
The Fine Print
- Offer valid as of January 1, 2020 through June 30, 2020. All offers are subject to change without prior notice.
- Offer valid for specified checking accounts only.
- Set up a direct deposit in the cumulative amount of $500.00 or more in each of the following full three statement cycles following the month of account opening and receive $50 per statement cycle for a maximum of $150 in bonus awards.
- Receive an additional $50 bonus when 25 or more cumulative debit card transactions are made during the first three full statement cycles following account opening.
- For example, if account is opened in January 2020, account holder must make $500 or more cumulative direct deposits of $500 in the months of February, March and April 2020, as well as at least 25 debit card purchases during those months to qualify.
- Bonuses will be awarded at end of 90 day promotional period.
- Purchases only, ATM withdrawals are not eligible.
- Offer valid for specified checking accounts and by invitation only.
- American Heritage reserves the right to cancel, modify or extend this offer at any time without notice.
- Member must be in good standing with a minimum $15 deposit in the primary share account.
- Limit (1) per household.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a totally free checking account with no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to see any mention of any early account termination fee in their fee schedule.
Our Verdict
The hard pull will kill this deal for most people, it’s also a lot of requirements for a bonus of only $200. For those reasons I won’t be adding this to our best bank account bonus page.
Hat tip to reader Ryan H
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
seems like with this requirement it will eliminate just about everyone from being eligible. anyone have any info on this ?
Offer valid for specified checking accounts only opened through a valid Workplace Partner or designation if opened online. Offer only available for employees of organizations who are in the American Heritage Credit Union Workplace Partner Program.
The list of workplace partners is pretty damn big honestly. I might forward this to my work and see if there is any way they would join this program so I can get in haha.
This deal has returned and currently open until 12/31/22.
However, now they ramped up the language they use to keep people from getting the bonus.
“Offer valid for specified checking accounts only opened through a valid Workplace Partner or designation if opened online. Offer only available for employees of organizations who are in the American Heritage Credit Union Workplace Partner Program. ”
That stuff was not there in 2021.
Some DoC’ers risked it early on and got in from OOS, but I figured it wouldn’t pay out. I was wrong. It happens. Anyway, pretty sure someone at the CU noticed.
bummer. Ran into this searching for the EWS post and was just trying to contribute.
Well – thanks, you saved me from applying next week.
It’s possible it’s not enforced… It just depends on how adventurous you want to be.
What it used to say in 2021 was “Offer valid for specified checking accounts and by invitation only” and that was enough to scare me. Others got paid and I got nothing. LOL
I’m a current member. Called to open new checking account, and the associate apparently not aware of the promo. asked me to download app and make a video call with an advisor. and also they’ll pull the credit for opening checking account. Weird enough!!! pass
” Offer valid for specified checking accounts only opened through a valid Workplace Partner or designation if opened online.”
Does anyone know what this exactly means?
On the app, it asks to select your eligibility and you can choose ‘Workplace Partner’ as an option. I work for one of them, but still unsure I should pull the trigger
No hard pull for me. Applied from out of state and had to get form notarized and mailed.
Pretty much same exact deal as
Daedalus but in my case I had to call them as they didn’t credit me the $50 when they were supposed to originally
I did real DD of $501 2 weeks after opening account – but the bonus posts the following months.
real DD $501 the 2nd month – got $50 bonus posted to savings account at end of month.
real DD $501 the 3rd month – got $50 bonus posted to savings at end of month.
real DD $501 the 4th month – got $50 bonus posted to savings at end of month.
Debits: I did 25 debits, various amounts, paid Xfinity bill ($1, $3, $2.01 debits, etc., etc.)
I did the debits throughout the 90 days since account open date. I did NOT get the $50 debit bonus. I figured I may have done debit #25 on the 90th day so it Didn’t count? I never inquired about it.
Received $150 bonus for DD but not the extra $50 debit bonus.
Had to get application notarized.
They pulled Chex
I can’t remember if they did hard pull?
Yes, I got the bonus.
CK9 I signed up where I would get $150 for having 3 direct deposits and $50 for debit transactions. I received the $50 for making the debit card transactions, but only received $25 for doing the direct deposit. I had to email them to receive the additional $125 ($125 + $25 = $150).
Any DPs of actual bonus payouts?
FYI: this bank is literally terrible. Opened a checking account OOS and they made me mail in my application and get it notarized. Applied for a credit card and was rejected *after* they pulled my credit because apparently my checking acct wasn’t open long enough.
4% APY/ 4 mo. CD for new members
You have to call in to open the CD, can’t open online. Max funding $2000.