Rakuten: Alliant Credit Union $200/20,000 Checking Bonus

Update 12/27/24: Available again.

Update 12/12/24: Available again.

Update 11/3/24: Increased on Rakuten from $100 to $150 now (ht reader Hit). Update: Readers note that the fine print still shows the November 2nd expiration; presumably it just hasn’t yet been updated.

Offer at a glance

• Maximum bonus amount: $150/15,000 points
• Availability: Nationwide
• Direct deposit required: Yes, $500 (Swagbucks $75 offer does not require direct deposit)
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes, some reports of chexsystems sensitivity in the comments but lots approved as well
• Credit card funding: None
• Monthly fees: None with eStatements
• Early account termination fee: $10, 90 days
• Household limit: None
• Expiration date: November 2, 2024

The Offer

$100 $150 Rakuten offer | $75 Swagbucks offer

• Rakuten is offering a bonus of $100 (or 10,000 Rakuten points) when if you click through the Rakuten and open a new Alliant Credit Union Checking account. Must complete a Direct Deposit in the amount of $500+ into the new Alliant Checking account within 30 days of clicking the Rakuten link.
• Swagbucks has a similar offer of $75 with no direct deposit requirement and requirements other than completing the signup.

The Fine Print

• Cash Back provided by Rakuten, not Alliant Credit Union (“Alliant”).
• Cash Back is only available for new Alliant members (one Cash Back offer per account) who click through the Rakuten link and apply for, and open, one new Alliant Credit Union Checking account and complete a Direct Deposit in the amount of $500+ into the new Alliant Checking account within 30 days of clicking the Rakuten link.
• Existing Alliant Credit Union members, customers who are joint owners on an existing Alliant Credit Union account, and former Alliant Credit Union members or joint owners who closed an Alliant Credit Union membership within 180 days of establishing a new membership are not eligible. Only one $100 cash back offer per new Alliant member.
• Alliant Checking accounts will be reviewed on or around December 3, 2024 to determine eligibility. If requirements have been met, Cash Back will be automatically added to your Rakuten account within 45 days.
• Direct Deposits are defined as coming from an employer or government agency. The following do not constitute Direct Deposit activity: check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds).
• The Alliant Checking account is offered through Alliant Credit Union. All account applications are subject to approval by Alliant Credit Union. Alliant reserves the right to modify the terms of or suspend this promotion at any time and without prior notice.
• This promotion begins on October 26, 2024 and ends on November 2, 2024 (the “Promotion Period”). This promotional offer is not transferable. Must be at least 18 years of age at time of application and a legal U.S. Resident or U.S. Person (including a U.S. Resident Alien) to be eligible. This promotion is subject to all federal, state, and local laws and regulations and governed by Illinois law. Insured by NCUA
• Cash Back will be automatically added to your Rakuten account within a few weeks.

Avoiding Fees

Monthly Fees

This account has no monthly fees as long as you opt for eStatements.

Early Account Termination Fee

There is a $10 fee if closed within 90 days.

Our Verdict

We once saw $100 bonus for an Alliant checking account (and once a limited $200 offer), though bonuses are not common on the checking account. We’ve never seen a direct deposit requirement with Alliant before, and so we don’t yet know what will count as a direct deposit.

Most people probably won’t find it worthwhile to deal with a real direct deposit for $100, and so we might not add this one to our Best Bonus Bonus page. The Swagbucks offer is lower at $75, but easier without the direct deposit requirement.

Related, we’ve seen a (live) $100+ offer on Alliant savings account and a (now expired) $200 Alliant CD offer via Rakuten.

Hat tip to Worldly_Guest3198