Published on February 15th, 2020 | by William Charles18
[Spring Cypress Branch, TX only] Resource One Credit Union $250 Checking & $100 Savings Bonus – Direct Deposit Not Required
Offer at a glance
- Maximum bonus amount: $350
- Availability: TX only. Available at Spring Cypress branch
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Six months, bonus forfeit
- Household limit: One
- Expiration date: May 31st, 2020
- Resource One Credit Union is offering a bonus of $350 when you open a new checking account & savings. Bonus broken down as follows:
- Open a new Resource One Spending account and receive a bonus of $250 when you use your debit card 15 times per month for the first three months ($5 minimum per transaction)
- Open a new Money Market account, IRA certificate, or a save to win certificate
The Fine Print
- Bonus Information: Offer available in branch only and for a limited time only through 5/31/2020.
- Offers are not valid to existing Resource One Credit Union members holding those account or loan types specified in this promotion.
- Offer is not available to those whose accounts have been closed within 90 days or closed with a negative balance
- Limit one bonus offer per household.
- To receive the $250 cash bonus: 1) Open a new spending account, which is subject to approval; AND 2) use your Resource One debit card(s) tied to the Prime Spending account for a minimum of 15 qualifying purchases per month for the first three months that the account is opened.
- A qualifying purchase includes debit purchases that post and settle for a minimum of $5 to the spending account between the first and last day of the month, including online purchases, phone, or mail purchases.
- Purchase refunds/reversals, ATM transactions, and bill payments do not qualify. Transactions on separate cards tied to a single spending account will be combined.
- To receive the $100 cash bonus: 1) Open a new Money Market account, IRA Certificate, or Save to Win Certificate, all are subject to approval.
- After you have completed all the above requirements, we’ll deposit the bonus in your par savings account no later than July 31, 2020.
- You can receive only one “Bundle and Cash In!” opening related bonus every two years from the last enrollment date and only one bonus per account and per household.
- Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Other terms, conditions, and restrictions may apply; see credit union for details. For complete terms and conditions of the account please review the AGREEMENTS AND DISCLOSURES available online or by request in a branch.
- Account Closing: If any of the accounts or loans associated to the bonus offer is closed by the member or Resource One within six months after opening and the bonus has been paid, we will deduct the bonus amount received from that account at opening.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Daily spending account has no monthly fees to worry about
Early Account Termination Fee
Accounts need to be kept open for six months otherwise the bonus is forfeit
That’s a lot of debit card requirements and $5 minimum is annoying, but considering there is no direct deposit required and the $100 savings bonus is easy to do as well I do think this is worth doing if it turns out to be a soft pull. If anybody goes for it then please share your experiences in the comments 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