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Offer at a glance
- Maximum bonus amount: $600
- 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
$5,000$500 with a credit card - Monthly fees: $5, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None
Contents
The Offer
- SkyOne Federal Credit Union is offering a bonus of up to $600 when you use promo code EXTRA. Bonus is broken down as follows:
- Open your new member Primary Savings account online using promo code EXTRA along with an Advantage Checking account with a combined total of $3,500 (new money) and get $100
- Open a Sky-High Savings account online and deposit at least $1,000 per month for the first 90 days and get $200
- Set up online banking and mobile deposit and make 1 qualifying mobile deposit per month for 60 days and get $100 (minimum deposits of $500+)
- Make at least 10 debit card point of sale purchases ($25 minimum) per month within 90 days and get $100
- Set up a minimum monthly recurring direct deposit (ACH) of $1,000 per month to Advantage Checking Account for six months and get $100
The Fine Print
- When you open your new Primary Savings account with a minimum of $5 using promo code EXTRA and maintain at least a combined total of $3,500 between your Primary Savings and Advantage Checking account for 90 days, you are eligible for $100. Must use promotional code EXTRA at time of opening account online to enter into the promotion. Primary Savings rate is 0.05% Annual Percentage Yield (APY). A $500 balance is required to earn dividends. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Both Primary Savings and Advantage Checking rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. 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 bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period.
- You will qualify for the $200 bonus on your Sky-High Savings when you deposit $1,000 or more each month to this account for a minimum of 90 days. The current rate is 1.00% APY provided a deposit of $1,000 or more is posted to your account each month. If there is no $1,000 deposit during the month, the dividend rate and APY will default to the Regular Savings account APY (currently 0.05% APY). The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period. for full terms and conditions of the SkyHigh Savings, visit https://www.skyone.org/save/saving/sky-high/
- To qualify for the $100 online banking/mobile deposit bonus, you must make at least one mobile deposit to your SkyOne Savings or Advantage Checking account per month for 60 days with a minimum total deposit of $500 during that period. Primary Savings rate is 0.05% Annual Percentage Yield (APY). A $500 balance is required to earn dividends. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Both Primary Savings and Advantage Checking rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 60-day period.
- To qualify for the $100 debit card purchases, you must make at least 10 debit card point of sale (in store) purchases ($25 minimum) per month for 90 days. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period.
- To qualify for the $100 Direct Deposit bonus, you must have a monthly minimum cumulative $1,000 in recurring deposits into your Advantage Checking account for 6 consecutive months. 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. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Advantage Checking rate is effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 6-month period.
- You will qualify for the $100 SkyOne credit card bonus when you use your card to spend $1,000 within 30 days of receiving your new card. (“Purchases” do not include balance transfers, cash advances, travelers’ checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, racetrack wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable. Rates, terms and loan amounts are based on your credit worthiness and are subject to approval.) This bonus will be deposited to your Primary Savings Account in your first statement cycle after the 30-day period.
- 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
Bonus looks to be better than all of the previous bonuses and it’s always nice when you can get the bulk of the bonus without having to do a direct deposit. This will be added to the best bank bonus page.
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
Does anyone know if this offer is still valid?
No, it’s expired. Just a $25 referral offer now, or a $300 credit card offer. ($3K spend within 3 months req)
https://www.skyone.org/new-credit-cards-promo/
William Charles
SkyOne is pretty hard to get approved for on their deposit accounts anyway. Not sure on CC approvals.
Thanks for the update.
Skyone just opened a branch in Lewisville, TX, of all places. The other two branches are in the Los Angeles area.
Confirmed via chat that account can be opened with a credit card $5000 limit. No amex just visa or Mastercard.
Tried to open account but it only shows bank account as a funding option. does the credit card option come up after the initial funding?
LoL. Just taking a guess that you’re an existing customer? Existing customers generally don’t get the option to fund with the credit card. Just depends on the bank/CU.
Not an existing customer? Possible they’ve changed their system and no longer allows credit card funding.
DP – Bonus-earning and account-closing data points:
– 8/10/2023 – Accounts (Primary Savings, Advantage Checking, Sky-High Savings, and Liquid Share Certificate) opened online
– 8/14/2023 – $14,550.00 transferred in to Advantage Checking from E*Trade.
– 8/14/2023 – $1,001.00 transferred to Sky-High Savings from Advantage Checking.
– 8/15/2023 – $10,010.00 transferred to Liquid Share Certificate from Advantage Checking.
– 8/22/2023 – $501.00 mobile check deposit.
– 8/22/2023 – $502.00 mobile check deposit.
– 8/24/2023 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 9/14/2023 – $1,002.00 transferred to Sky-High Savings from Advantage Checking.
– 9/26/2023 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 10/10/2023 – $200 bonus deposited into Primary Savings. (“Cash Payout for Sky Extra Promo Liquid CD”)
– 10/15/2023 – $1,003.00 transferred to Sky-High Savings from Advantage Checking.
– 10/25/2023 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 11/15/2023 – $1,004.00 transferred to Sky-High Savings from Advantage Checking.
– 11/27/2023 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 12/14/2023 – $1,005.00 transferred to Sky-High Savings from Advantage Checking.
– 12/27/2023 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 1/6/2024 – $1,002.00 transferred to Sky-High Savings from Advantage Checking.
– 1/24/2024 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 2/6/2024 – Sent secure message requesting missing bonuses.
– 2/10/2024 – $100 bonus deposited into Primary Savings. (“Cash Payout for Sky Extra Promo DD”)
– 2/26/2024 – $1,002.00 transferred in to Advantage Checking from Wells Fargo.
– 3/18/2024 – Sent secure message requesting missing bonuses.
– 4/17, 4/22, 5/2, and 5/7/2024 – Called requesting $400 in total missing bonuses. Was told to either expect to receive a call within 24 hours or 5-7 business days.
– 5/19/2024 – Received the following email – “EXCEPTION NOT GRANTED, MEMBER DIPPED UNDER THE 3.5K REQUIREMENT A WEEK BEFORE THEY WOULD HAVE MET THE REQUIREMENT. *SKY HIGH* DOES NOT QUALIFY BECAUSE FUNDS WERE TRANSFERRED IN FROM CHECKING, NOT BY DEPOSIT AS STATED IN TERMS. *MOBILE DEPOSIT* DOES NOT QUALIFY, DEPOSITS NEEDED TO BEEN HAVE MADE PER MONTH, NOT ON THE SAME DAY.”
– Partially failed– $300 out of $700 in total possible bonuses received.
– 6/27/2024 – Called to request that Liquid Share Certificate not renew.
– 7/10/2024 – Balance of Liquid Share Certificate automatically transferred to Advantage Checking.
– 7/10/2024 – Balance(s) transferred out.
– 7/15/2024 – Called to close account(s). Told to send request via email, but that a request in writing will probably be necessary. Sent closure request email to Operationssupport[at]skyone.org with contact info, member number, and account numbers (but no photo of my ID).
– 7/16/2024 – Reply received – “We have received your request to close your account. The account has been fully closed and a check will be in the mail to you this afternoon.”
Looks like this expired.
Are you saying this expired in April 2024 ?
I thought this was long expired at least Dec 2023!
I actually meant to do it in Dec last year but since this expired abruptly I had to miss it.
3/10/24-Received my last $100 bonus (Direct Deposit Offer) from the EXTRA promo.
On 08/09/23 I opened Primary Savings, Advantage Checking & SkyHigh Savings online with promo code EXTRA.
Today I received my last EXTRA promo bonuses.
These are EXTRA promo bonuses I’ve received:
Total of bonuses received: $800
DP.
10/26/23 – Opened primary savings, checking and sky-high savings accounts- $500 initial funding using cc.
1/24/24- $200 Sky-High bonus posted
1/24/24- $100 into primary savings for keeping $3500 for 90 days
2/6/24 $100 mobile deposit in checking account, for this one I had to chat with csr on 2/1/24. The agent was very helpful and promised I would receive the bonus within a week, she even followed up with an email after the bonus posted.
Does Skyone mail 1099s? I received an email that my 1099-INT is ready, but my online account is “frozen” since I closed the account long ago.
Yes. Received mine few days back.