Update 12/31/22: offers increased by $100 until 12/31/22 when using this link.
Offer at a glance
- Maximum bonus amount: $300 checking & $100 savings
- Availability: Nationwide
- Direct deposit required: Yes
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, extremely sensitive according to some datapoints but others say not sensitive so YMMV
- Credit card funding: Can fund up to $500 with a credit card
- Monthly fees: $5, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: December 31, 2022
Contents
The Offer
- SkyOne is offering bonuses of up to $700 when you use promo code GIFT:
- Get $100 when you open a Savings Account
- Must deposit $5+ at account opening
- Must maintain a $1,000 balance for three months
- Get $300 when you open an Advantage Checking Account and within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for six consecutive cycles
- Open our new Platinum Elite Visa® Signature Card and earn up to 30,000 bonus points (that’s $300!) (this is the standard bonus)
- Get $100 when you open a Savings Account
The Fine Print
- *$700 Bonus Offer valid from December 9, 2022, to December 31, 2022, is subject to change without notice and may end at any time. Exclusions may apply. SkyOne membership is required. To receive the entire $700 bonus, you must complete all of the following:
- Get $100: Open an account online from December 9, 2022, to December 31, 2022, use promo code GIFT and deposit the minimum opening balance amount of $5 into a Primary Savings Account, and maintain a $1000 balance for 3 months. This offer is intended for new members only. You are not eligible for this offer if you are a current owner of a SkyOne savings account or if you have closed an account within the last 12 months. Savings Rate is 0.05% APY. APY=Annual Percentage Yield. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. A $500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply.
- Get $200: Open a new SkyOne Advantage checking account online from December 9, 2022, to December 31, 2022, using promo code GIFT. within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for six consecutive cycles into 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. Advantage Checking earns dividends of .05% APY if the balance requirement is met. APY=Annual Percentage Yield. Rates are effective as of the last dividend and declaration date. The rate is variable and may change after the account is opened. A $2,500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply. This offer is intended for new checking accounts only. Offer is not available to existing SkyOne checking account holders or those whose accounts have been closed within the last 12 months.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The advantage checking account has a $5 monthly fee that is waived if any of the following requirements are met:
- Be 25 years of age or under
- Be 65 years of age or over
- Have an active Visa® credit card, or line of credit, including HELOC (activity is defined as carrying a balance or making purchases each month that total $100 or more)
- Have a current consumer loan, including mortgage
- Have a minimum average daily share balance of $2,500 across all primary account holder’s accounts
- Make monthly aggregate deposits of $1,000 or more in SkyOne Advantage Checking Account
- Make a minimum of 10 debit card POS (point-of-sale) transactions
Early Account Termination Fee
There are no early termination fees to worry about
Our Verdict
This is the biggest checking bonus we have seen, but it requires a direct deposit for six months making it a deal breaker for some readers. We have seen a bigger savings bonus in the past but that required a deposit of $25,000. We will add both of these to the best checking & savings bonus pages.
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
Legit DD with YEAREND promotion >>> 9/21 $200 savings bonus posted >>> 10/8 Contacted customer service by message; read receipt but no reply >>> 10/27 $400 checking bonus posted
$400 bonus posted today in savings.
Ally pushes DID work.
DP
12/31/22 Applied and was instant approved – chex was 1/1 4/3 23/12
1/3/23 Lost access to account
1/26/23 Got access to account after emailing them to look into my access.
2/17/23 Started 1k+ real DD and deposited 1k into savings
4/1/23 Switched to 1k monthly pushes from Alliant
9/6/23 $200 bonus and $400 bonus posted
Finally paid out the $400 for the checking on 10/13/23 after multiple follow-ups. Account was approved end of January for YEAREND and established legit DD from beginning of February (within 30 days of opening) until October.
Checking bonus posted on 10/3. Data point: I used both Alliant and Amex Business checking for DDs so one or the other or both worked.
My guess is that for those who have only gotten the savings bonus, this Wednesday 10/4 will be the payout for the checking $400. Last month it was 9/6, the first Wednesday of the month. 🤞
You were close. I got the $400 checking today – Tuesday 10/3. I got the $200 savings on 9/20.
Me too! The longest bank bonus ever is finally over!!
Dang. Ally pushes didn’t work then. Only got the $200.
Me too. I messed up the savings, so only got the $400.
Still nothing for me. Time to close this mess.
I also only got the $200. CAptial one didn’t work. Been getting hit with random fees too I guess for sloppiness. This was an annoying deal.
I’m calling it. Ally pushes didn’t work. Only got the $200. Luckily I have Chase Biz now so I can do ACHs and probably would have gotten it had I had that account before I opened the skyone.
$200 posted today. Ally for DD, no post yet.
Meant to say savings $200 posted but not checking.
$400 bonus posted today in savings.
Ally pushes DID work.
Approved for both accounts on 12/31. Checked the accounts and still no bonus in either checking or savings. Then talked to an agent in the chat and she said she would check with the supervisor. Less than an hour later received an email from her saying that my savings bonus just posted and that my checking bonus will post during the next round of checking bonus payouts at the end of the month. Checked my accounts and $200 more was in my savings account. Wish this happens whenever we complain about bonuses, but this was great customer service. Altogether, it sounds promising.
It must have been a coincidence since my saving bonus posted today as well and I did not contact customer service. Still waiting on the checking bonus though.
Most likely it is. Glad to hear you received the savings bonus as well. It still gives us the hope that we will receive the checking bonus at the end of the month.
This has been such a long and winding road — makes me think twice about doing a bonus that requires this much time.