[Expired] REV Federal Credit Union $200 Checking Bonus, Direct Deposit Not Required

Offer at a glance

• Maximum bonus amount: $200
• Availability: Field of memebrship here.Don’t qualify through any of the channels above? Make a one-time donation of $15 to Friend of the Foundation to qualify for membership.
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Up to $1,000
• Monthly fees: None
• Early account termination fee: None listed
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• REV Financial Credit Union is offering a $200 bonus when you open a new checking account and complete the following requirements:
  • Open a new qualified checking account (i.e. Premier, Bulldog, Easy Checking)
  • Open a 12 Month Savings Builder Certificate
  • An aggregate of at least $500 must be electronically deposited into the qualified checking account within 45 days of account opening

The Fine Print

• For new members only. Members must be at least 18 years of age, have not had an open membership within the last 18 months, and have not caused the credit union a loss in the past. To receive the $200 deposit (bonus), the applicant must open a qualified checking account (i.e. Premier, Bulldog, Easy Checking) and a 12 Month Savings Builder Certificate. An aggregate of at least $500 must be electronically deposited into the qualified checking account within 45 days of account opening (electronic deposits may be in the form of direct deposit, mobile deposit capture, ATM deposit, or ACH transfer from another institution).
• Any bonuses earned will be reported to the IRS for tax purposes.
• The member may deposit funds into the Savings Builder Certificate at any time.
• Withdrawals from the Savings Builder Certificate may be subject to an early withdrawal fee as outlined in the Truth-in-Savings Rate and Fee Schedule. See credit union for details.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Easy checking has no monthly fees.

Early Account Termination Fee

I wasn’t able to find an EATF in the fee schedule.

Our Verdict

My reading of the terms is that they will open a 12 Month Savings Builder Certificate for you and deposit the $200 bonus in there, but it’s possible that’s wrong. The 12 month certificate earns 3.75% APY but it should be possible to immediately withdraw and forgo any interest. A lot of unknowns here and it’s possible they will change terms/requirements for account opening once seeing a lot of accounts opened. I doubt this will last long.

Hat tip to reader Eric & Mango Runner

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