[Expired] SkyOne Federal Credit Union $200 Checking Bonus

Deal has expired now, view more bank account bonuses by clicking here

Update 4/2/20: Deal has been extended until May 31st, 2020.

Offer at a glance

Maximum bonus amount: $200
Availability: Nationwide, can make a donation to surfrider if you’d normally not be eligible
Direct deposit required: $1,000+ for two consecutive months
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown, sensitive according to some datapoints but others say not sensitive so YMMV
Credit card funding: Can fund up to $12,000 with a credit card
Monthly fees: None
Early account termination fee: None
Household limit: None listed
Expiration date: March 31st, 2020

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

SkyOne Federal Credit Union is offering a checking bonus of up to $200 when you meet the following requirements:
- Earn $125 when you set up monthly direct deposits of $1,000 or more per month for two consecutive months within 90 days of account opening
- Earn $50 when you deposit $2,500 or more in new money within 10 calendar days of opening a new SkyOne checking account and maintain that balance for at least 30 consecutive days
- Earn $25 when you make at least 10 point of sale/debit card transactions within 30 days of account opening

The Fine Print

Bonus Requirements: Earn $125: You are not eligible for this offer if you are a current owner of a SkyOne checking account and have direct deposit. Open a new, eligible SkyOne checking account by March 31, 2020. Within 90 days of account opening, receive a total of $1,000 or more in qualifying direct deposits per month for two consecutive months in to your new checking account during the qualification period.
A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account. Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify.
Earn $50: Deposit $2,500 or more in new money within 10 calendar days of opening a new SkyOne checking account. Maintain a daily balance of $2,500 for 30 consecutive days.
Earn $25: Within 30 days of account opening make 10 POS (Point-of-Sale) and/or debit card transactions. Bonus Payments: Once the qualification period has elapsed, we will determine if you have met the offer requirements, and will deposit bonus payment into your new checking account within 10 days.
Additional Terms and Conditions: Offer subject to change without notice and may end at any time.You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor.
Account must be in good standing. Account in good standing is defined as: 1) Your Checking account balance must not be negative for more than 30 calendar days; 2) You must be in good standing, which means no delinquent or charged off loans or charged off share accounts with SkyOne Federal Credit Union; and 3) You do not have a ChexSystems record with monies owed.
SkyOne reserves the right to terminate this offer at any time.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

There are no early termination fees to worry about

Our Verdict

Downside is that this is ChexSystems sensitive, but the upside is that anybody can open an account/become a member now. I’ll still be adding this to our list of the best checking bonuses, because there are generally not many that are nationwide.

Hat tip to LivingInTheAir

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