Offer at a glance
- Maximum bonus amount: $100 for you and $100 for person who referred you
- Availability: Must live in Southern California
- Direct deposit required: Yes, no for maximum bonus
- Additional requirements: Open a Savings & checking
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, waivable
- Early account termination fee: Unknown
- Expiration date: None
The Offer
- Receive a sign up bonus of up to $100 when you use somebodies referral (they also receive $100) and complete the following with Polam Federal Credit Union
- $25 bonus: New member joins POLAM opens Saving account
- $50 bonus: New member joins POLAM opens a Saving, and Checking account with a Debit Card
- $100 bonus: New member joins POLAM opens a Saving, Checking account and Direct Deposit
Here is how to refer somebody:
- Call POLAM on 800 404 5137 with the name and contact information of the person you are referring, and we will contact them or
- Have your referral contact POLAM customer service and make sure that your name is mentioned as the referrer.
Feel free to share your referral details in the comments of this post.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There is a $5 monthly fee on the checking account, waived if you have a balance of $500+ and there is no monthly fee on the savings account. I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee or not.
Our Verdict
Pretty good bonus, especially if the person that refers you splits some of their bonus with you. We don’t know if it’s a hard or soft pull which is really make or break. Feel free to share this information along with your referral details below. We haven’t added it to our list of the best bank bonuses yet due to this uncertainty.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
