Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â TX Only
- Direct deposit required:Â Yes, $1,000+ per month for three monthsÂ
- Additional requirements:Â None
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees: None
- Early account termination fee:Â $15, six months
- Household limit:Â None listed
- Expiration date:Â None
Contents
The Offer
- First Service Credit Union is offering a $250 bonus when you open a new checking account and bonus broken down as follows.
- First Service will deposit $50 after the first month in which a total of $1,000 or more in Qualifying Direct Deposits is received
- $75 will be deposited after the second month in which a total of $1,000 or more in Qualifying Direct Deposits is received
- $125 will be deposited after the third month in which a total of $1,000 or more in Qualifying Direct Deposits is received
The Fine Print
- First Qualifying Direct Deposit must be received into the member’s account within 60 days successful enrollment. First Service will deposit $50 after the first month in which a total of $1,000 or more in Qualifying Direct Deposits is received; $75 will be deposited after the second month in which a total of $1,000 or more in Qualifying Direct Deposits is received; $125 will be deposited after the third month in which a total of $1,000 or more in Qualifying Direct Deposits is received.
- Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll provider, benefits provider, pension, or the government (such as Social Security) via ACH deposit. External ACH transfers not from employers, verification or trial deposits from financial institutions, peer-to-peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, and any deposit which First Service deems to not be legitimate are not Qualifying Direct Deposits. An ACH direct deposit made available early with Early Payday does not count toward the bonus requirements until it posts to your account and is no longer pending (e.g. the pay date scheduled by your payer).
- Limit $250 in bonus payouts per member. Certain restrictions may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees.
Early Account Termination Fee
$15 fee if closed within 6 months
Our Verdict
Slightly annoying that you need three months of direct deposits for the full bonus and we aren’t sure what work arounds will work (if any). If anybody goes for it, share your experiences below.
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
Called the CA after many attempts to fund with Chase card failed. The CA confirmed only Mastercard can be used for credit card funding.
seems like Chase card cant be used to do cc funding. I tried CSP and CIU, both got “unable to process payment request”
Same over here – CSP didnt work. Did you manage to fund with other credit card and how much?
What is the promo code for this offer? I see an option to enter a promo code in the application, but the promo page doesn’t have anything as far as a code.
Also, is there a limit to how many accounts you can CC fund at once? I saw the application will let you add up to 4 additional savings accounts, so could you really do 6 x $2,500 in funding?
App went for review but did call and confirm they have c.c. funding – $2500 for each account.
Tried to deposit MO (money order) at one of their own ATMs and was not successful.
did anyone recieve 1099 for this account after receiving bonus?.
Please update the article when you can much appreciated. $15 fee if closed within 6 months. https://www.fscu.com/resources/member-benefits/rates-fees/
Chuck
@ch
Updated, thanks
I applied OOS in November 2023 and was denied. Chex stats were:
1/1, 5/3, 14/6, and 28/12.
Chex of 4/1, 8/3, 14/6, and 19/12.
I’m guessing it’s either due to OOS app since
Gadget - Bank Bonus Geek 🔗 thinks it may not be nationwide. Otherwise the only criteria would be from having more inquiries in 12 months than David did. I’d like to try again but it may be a waste at this point. P2 may try as another OOS data point when stats are cleaner.
Well that makes it seem that they care more about footprint then stats if you got denied with better stats than David.
Applied OOS after donating.
Denied due to Chex oof (50/12)
$1 is the minimum…
https://youfirstfoundation.org/
Nope. I think it would be a waste of a Chex hit. Just because these credit unions come up with a tax-sheltered foundation doesn’t make it nationwide to bank bonus miners.
Careful. “Courtesy Pay Opt-In” was auto checked
Applied OOS with the donation method.
CC funding $2,500
Received a message thank you for applying and we will contact you soon.
any updates?
I was denied. I think chex