This deal has expired, click here to view the best current checking bonuses.
Keep in mind the fine print states ‘Offer not available to existing HVFCU members, is non-transferable, and is only offered to the addressee’. It’s unclear if this is targeted or not. Looks like you need to open in branch.
Offer at a glance
- Maximum bonus amount: $200
- Availability: In branch and targeted. Branches are in NY by the looks of it [Branch locations]
- Direct deposit required: Yes, $500+
- Additional requirements: New membership & checking account
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $20, 90 days
- Household limit: None listed
- Expiration date: August 31st, 2018
Contents
The Offer
- Hudson Valley Federal Credit Union is offering a bonus of $200 when you do the following:
- Establish new membership
- Open a new checking account
- Have one direct deposit of $500 or more within 90 days of account opening
The Fine Print
- Offer valid through 8/31/2018.
- To qualify for the $200 bonus, you must 1) establish membership, 2) open up a new checking account, and 3) have one direct deposit of $500 or more to your account within 90 days of account opening.
- To establish membership, you must purchase and maintain the minimum par value for a membership share of $5 in a primary savings account.
- Your direct deposit must be an electronic deposit of your paycheck, pension, or government benefits from your employer or the government.
- Once you have met the qualifications, we will deposit $200 right into your new checking account within 30 business days. Annual Percentage Yield (APY) for personal checking is .05% as of 6/28/2018 and is subject to change after account opening.
- There is no minimum balance required in order to earn the disclosed APY. Fees could reduce earnings. May be subject to IRS reporting.
- $200 offer cannot be combined with any other credit union offers and may be withdrawn at any time.
- Offer not available to existing HVFCU members, is non-transferable, and is only offered to the addressee.
- Limit one offer per person.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The beyond free checking account has no monthly fees to worry about.
Early Account Termination Fee
According to the fee schedule there is an early account termination fee of $20 if closed within 90 days of account opening.
Our Verdict
Often with bank bonuses even if they say they are targeted it’s not actually enforced, but that isn’t always the case. If anybody goes for it then share your experiences in the comments below. I won’t be adding it to the best bank bonuses purely due to all the unknowns.
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?
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