Posted by William Charles on June 1, 2019
Bank Account Bonuses

Published on June 1st, 2019 | by William Charles

97

[TX only] TDECU $200 Checking Bonus

Offer at a glance

The Offer

Direct link to offer

  • TDECU is offering a bonus of $200 when you open a new TDECU forward checking account and complete the following requirements:
    • Receive a recurring direct deposit of $500+ 11/30

The Fine Print

  • Recurring direct deposit must be set up by 9/15/19 to qualify for $200 reward.
  • Rewards will be deposited into your main share/savings account within 60 days after meeting offer requirements and are considered interest and will be reported on IRS Form 1099-INT. Insured by NCUA.
  • Offer not valid on existing Forward Checking or Credit Card accounts
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Forward checking has a monthly fee $5, this is waived if you meet the following requirements:

  • Enroll in mobile deposit
  • have a recurring direct deposit or make at least six debit card transactions per month

Early Account Termination Fee

There is no early account termination fee

Our Verdict

The credit cards they offer are basically useless, so this is really just a $200 checking bonus. Previous best was $150, but that was on an account with no monthly fee.

Useful posts regarding bank bonuses:



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KC
KC

Does anyone know what counts as a direct deposit for this bank, e.g. can Discover or Alliant push count?

Ann
Ann

The Onyx CC sounds decent enough, especially with the bonus. https://www.tdecu.org/onyx-platinum-mastercard/
“up to 2% rebate on the first $500,000 net spent” (haven’t found details about why it says “up to”)
0% on purchases for 6mo
0% on BTs for 12mo (if initiated within first 30 days) and no BT fee
price protection
extended warranty
“A revolving “base” line of credit, plus a non-revolving “pay in full” line of credit valued at up to two times the base amount.”

Christian
Christian

There’s a lot of credit cards out there with much better than a $100 bonus. $100 is not worth a hard pull.

akjohnny
akjohnny

my hr person i going to love me changing my dd each month to collect bonuses

tolikfox
tolikfox

mine is self service thank god, i be changing it up every pay period lol

Christian
Christian

I got a hard pull opening just now. I opted out of the “Courtesy Pay Opt-in” where they cover overdrafts but left the Overdraft Protection Plan checked which is supposed to pull from the associated savings account to cover overdrafts in the checking account so maybe uncheck that as well if you apply new. They pulled Equifax.

Rolando
Rolando

I did the opposite. I opted out of the Overdraft Protection Plan but left the Courtesy Pay checked. Also got a hard pull. 😞 Live and learn.

TomTX
TomTX

Useless credit cards? Obviously you have never experienced a real Buc-ee’s!

😀

akjohnny
akjohnny

$100 sub is weak. Buccees is overpriced…

Ben
Ben

It’s a useless credit card. Other cards earn more at all gas stations including Buc-ee’s.

mjs
mjs

Overdraft Protection is pre-selected when going through the application– make sure to de-select that.

Also, if anyone applies, please clarify whether you got a real hard pull or soft pull on this. Thanks

Clay
Clay

I applied. Account says submitted for review. Probably to make sure you’re eligible. Certain counties only:
https://i.imgur.com/OSaHG9g.png
No hard pull (yet).
Note you can fund up to $2,500 (not $250).
You are required to opened a savings account if you’re not otherwise eligible to join than by residence. That’s another $2,500.

akjohnny
akjohnny

AWESOME DP!!! $5k in cc funding and a $200 sub!!!

Steven
Steven

any restrictions on what credit card (visa, MC, AMEX) you can use to fund it? Thanks.

Clay
Clay

Update: Account approved. No hard pull.

Funding is Visa/MC/Discover.

Mjs
Mjs

Clay could you let us know please what brand and of card you used (and wasn’t charged a cash advance fee), since there aren’t data points on what cards do and don’t register as a cash advance with this bank?

Ryan
Ryan

I can confirm $5000 CC transaction (not cash advance) with chase sapphire reserve.

Ro
Ro

@Ryan were you in state? Any DP for out of state?

Clay
Clay

It was a Citi AA card.

Zoe
Zoe

Clay So,did you un-checked both the “Courtesy Pay Opt-in” and the “Overdraft Protection Plan”?

Clay
Clay

Yes, both.

KS
KS

Hi Clay

Do u know if I will be approved although I do not reside in Texas? Is there another option for qualification for residents of another state? Thanks in advance!

Ann
Ann

If you don’t live in one of the relevant counties in TX (not just anywhere in TX), work for one of the relevant companies https://www.tdecu.org/tdecu-field-of-membership-by-company-and-organization/ (there are some of those that one could work for in other states, several large chemical companies), went to University of Houston, or have a relative who’s already a member, I don’t think there is another way in here.

KS
KS

thanks a lot, Ann…for the clarification. Appreciate it..

LAG
LAG

William Charles

Found the fees for the checking, $5/mo, reflected on their rates page:
https://www.tdecu.org/rates/

“Forward Checking Account Requirement (waived if enrolled in Mobile Deposit & either 1 ACH deposit or 6 debit card transactions are posted per month)”

“$5.00 per month”

David
David

Churnability?
Also seeing a few DPs below about hard-pulls. Spooky. Gonna be hard to resist a $5000 cc funding account.

LAG
LAG

William Charles

I apologize for the length, but TL;DR, AMEX FUNDING and $5k confirmed, but $7,500+ seems possible!

See below for full details:

While the application page ONLY states funding via Visa/MC/Discover; I noted the (?) help, button next to the CSV/pin showed an AMEX thumbnail, so I decided to go for it…

The system showed red font when entering an AMEX indicating it is not an approved funding source, so I expected the system to reject my submission, but to my surprise, it took me to the next page & said my application was submitted and it was shown as pending on my AMEX immediately, so I suspect it is automated and will clear!

My application was approved today and I registered my online access. No funds are shown as pending yet (although they do provide a $1 checking & $5 savings “courtesy funding”), but my AMEX still currently shows the charge as pending and it’s been 2 days, so I expect it should post in the next day or so!

I’ll post an update if/when it clears, but wanted to let everyone know in case anyone else wants to attempt.

In addition to the successful $5k deposit DP, I wanted to add that I had tested if the system had a total funding limit as it allows you to fund $2,500 per account and you can add additional accounts, such as another savings. I started to attempt the $7,500 funding for all 3 accounts and there was no warning that I exceeded a limit, but my application expired before I could find my card and on the second attempt I decided to remove the additional savings & just post $5k since it was more than enough to finish the MSR on the AMEX… so if someone else wants to add a positive DP this CU might be a gold mine if we’re able to churn the account or open multiple checking/savings.

LAG
LAG

William Charles Chuck

Not sure who maintains the CC funding page, but I wanted to follow-up on my DP for this to confirm AMEX funding works, as both my checking & savings accounts reflect a $2,500 balance this morning!

I used SPG Biz

LAG
LAG

Adding an additional DP for the recent ones regarding hard pull… I ensured overdraft opt out and still received a hard pull from equifax.

Also, I wanted to add a note that funding by credit card appears to come with a hold as well. I was able to transfer the $2,500 of funding to my savings to my checking, but my available balance is only $1, so the entire $5k is still on hold. I would assume it’ll be released at least by the week after funding deposited, but will update if there are any surprises.

Tony
Tony

LAG Can confirm this DOES work. Funded $7500 ($2500 into each of the 3 accounts) on my Paypal CC. Took 1-2 days after approval and funds were available. If this bonus goes through, it’s $200 bonus + $150 from a 2% back card. Shame it was a Hard Pull for me.
P.S. I don’t know if I could have done more since 7.5k is my highest limit.

Zoe
Zoe

Tony LAG My checking account (with new name “High Yield Checking”) was opened July 31. I funded 2k from my cc Barclaycard CF. But It’s almost 12 days passed, the 2k is still on hold (shown under “current balance”, instead of “available balance”). I wonder if a similar thing happened to anyone else? I don’t know how long they will hold it.

Tony
Tony

Zoe I experienced a similar issue. It took them 11 days for my money to be available (they said because of a hold). Secure message them and they will tell you exactly when they are scheduled to be released.

Zoe
Zoe

Thanks Tony. A couple of weeks are OK. (I thought they are going to hold for a few months. )

LAG
LAG

My experience was similar. I can’t be certain how many days it was on hold for, but my statement shows deposit was 6/5 & withdraw was 6/21, so somewhere around the 2 week mark referenced.

Zoe
Zoe

Not bad if two weeks. Thanks!

A M
A M

Doesn’t specify anywhere how many DDs count as “recurring.”

Very technical reading could be just 2 DDs constitute “recurring” and once those are made, “recurring direct deposit” has been “set up.”

Up to sixty days after that is when bonus will be deposited then.

I guess we need more DPs. But gotta get in on that 5K funding, though.

Michael
Michael

Hard pull. I called them and asked why. They said that a feature of the Forward Checking Account is mobile deposit (the ability to deposit checks via the app), and that there’s been a lot of fraud on that so they are basically checking the credit of everyone applying for this account.

So definitely can confirm they are doing hard pulls for this specific account.

mjs
mjs

If I recall, I think that option can be de-selected in the application process. Wonder if that could eliminate a hard pull

Michael
Michael

I didn’t go back and check, but I asked the phone rep about this and they told me that mobile deposit is a standard feature of this specific “Forward Checking” account (the one with the $200 bonus), hence a hard pull for any applications on this type of checking account.

Mjs
Mjs

Well at least you got you application approved. I answered all the questions correctly, but they supposedly weren’t able to verify my application and said I’d have to go to a bank.

Wonder if scanning the DL makes any difference (I didn’t).

Betelgeuse
Betelgeuse

Did you opt out of overdraft protection?

Roronoa
Roronoa

I just called their customer service 2 times with 2 different reps and they both said it will be a soft pull. William Charles

Ann
Ann

Apparently those 2 reps are both misinformed. (See Michael’s reply shortly before yours.)

Betelgeuse
Betelgeuse

Clay’s post said there was no hard pull though.

Ann
Ann

Christian, Michael, and Danny say otherwise.

Clay
Clay

Strange. I’ve checked Experian and Credit Karma/TransUnion and I never got a pull. I opted out of Overdraft Protection Plan and Courtesy Pay Opt-In.

Ann
Ann

I’m starting to think the trick is whether people also caught the ‘courtesy pay’ option or only opted out of the ‘overdraft protection’ option. Had to opt out of both to have any chance of avoiding a HP. The other DPs reporting HPs either didn’t specify, or only mentioned opting out of one of those.

Danny
Danny

Hard pull, confirmed. This is what’s shown in my creditkarma account for Equifax:

Texas Dow Employees
Inquiry from Jun 05, 2019

Betelgeuse
Betelgeuse

Did you opt out of overdraft protection?

Danny
Danny

Yes, I did. I unchecked the box.

Tony
Tony

+ 1 Hard pull on Equifax. Same as Danny, I didn’t enroll in overdraft or mobile deposit.

AKJohnny
AKJohnny

this dp makes this offer a pass to me…. not worth the pull for a $200 bonus…

Stampede
Stampede

+1 Hard pull for me too. I opted out of overdraft protection and didn’t enroll in mobile deposit.

veeRob

I guess the positive is we now have a ChexSystems DP…

Thank you for your new membership application with TDECU. We regret to inform you that we are unable to process your new membership application at this time due to information received from Chex Systems, Inc., a consumer–reporting agency. We have attached a Chex System Disclosure so that you may contact them at your convenience for additional information regarding the information that is being reported.

Thank you for applying with TDECU.

Your TDECU Remote Online Account Processing Team

Ann
Ann

What are your approximate numbers of Chex inquiries in recent timeframes?

Betelgeuse
Betelgeuse

So you didn’t receive a hard pull?

payyoutuesday
payyoutuesday

I think there is some middle ground here with respect to Chex sensitivity. I applied online but received a message that they couldn’t verify my information, and I needed to go to a branch to complete my membership. The banker told me that this was due to the number of inquiries on my report (they did not say the word “Chex”). After some discussion on this topic, I was approved for membership/accounts. I don’t know what my Chex numbers are, because I haven’t looked at my report in a long time. I did receive a hard pull on EQ. I didn’t study hard enough: although I opted out of overdraft protection, I was somehow signed up for courtesy pay. I don’t recall being asked about it.

Betelgeuse
Betelgeuse

payyoutuesday did the hard pull happen right after you applied it after you talked to banker?

payyoutuesday
payyoutuesday

Betelgeuse I don’t recall specifically, but Credit Karma says that the EQ pull was done on the same date that I talked to the banker in-branch, which was the day after I applied.

Betelgeuse
Betelgeuse
LAG
LAG

William Charles I’ll go ahead and tentatively post another positive DP for soft pull on recent app; tentative because it is in review for the weekend, so I’ll reply here if I end up with a hard pull later in the week. Also, wanted to point out the date for recurring DD is now 11/15, so maybe more people will consider opening an account with the recent soft pull DPs.

SO received a hard pull in the early wave of DPs like others reported. I didn’t have a MSR to meet, so I held off on opening for myself, but decided to bite the bullet and give it a try on my CIP#3 since $5k+ bank funding sounded worth the pull.

I ensured no overdraft selected and am not seeing a hard pull on any of the 3 bureaus, so believe I’m in the clear as SO had an immediate pull on Equifax last time.

Tolikfox
Tolikfox

Minimum recurring DD is now $500. Used to be $250.

Betelgeuse
Betelgeuse

LAG did you receive automatic approval or was it after manual review? Did they take the money from cc during application or after approval?

LAG
LAG

Manual review, didn’t approve, said I had to come in branch. I can’t recall if CC funding was pending or not, but I believe it was and then fell off after a few days from the denied application.

Betelgeuse
Betelgeuse

LAG Thanks. But I thought you were approved? Why did you say denied application?

LAG
LAG

Sorry for any confusion, SO account opened and was approved after manual review, but when I applied my app went to manual review and I posted the DP here thinking it would be the same, but then for whatever reason during manual review they denied my app saying I needed to come in branch which I wasn’t able to do so I just let it go since I already had SO account and wasn’t going to be traveling to branch anytime soon.

Betelgeuse
Betelgeuse

I see. Thanks for the clarification.

LAG
LAG

Anyone receive bonus yet? Technically is supposed to post within 60 days of DD setup, so past that point for some I’m sure… I setup real DD and first posted 6/30, I setup my tracker to go off 60 days from 2nd DD on 7/12 since idk how they determine “recurring” but I’m doing $250/bi-weekly, so I would’ve met the old terms @ >$200 and still meet the $500 updated terms

William Charles – Might want to update about the updated terms and DD req’d date is extended to 11/30 for new applications.

I’m going to give it another few weeks or so to see if it posts automatically. Maybe it’s not until the monthly statement closes since I know other banks that do that. Just thought I’d start DPs since I can’t seem to find anything elsewhere.

Reg
Reg

William Charles TDECU is denying bonuses by SM. CSRs are stating, through SM, that to qualify, the recurring DD needs to be $500 or more. This is even for people who signed up on the old terms.

LAG
LAG

Did anyone get a screenshot of the old T&C? I know we have the pic above, but full terms would be great for defense and unfortunately I didn’t save a copy… although, technically even the current terms say $500 in aggregate per month, which my DD definitely hit, so imo they don’t have a defense with a $250/bi-weekly deposit since it is $500/month.

payyoutuesday
payyoutuesday

Aggregated total of $500 or more per month is NOT one of the qualifications for the bonus. It is one of the requirements to earn the highest APY and ATM rebates each month.

LAG
LAG

That’s not true for the new page… While the fine print technically doesn’t reference the value requirement again, the actual offer section DOES read “Open a new TDECU High-yield checking account with a recurring direct deposit of $500 or more” Which is the adjustment I’m referencing regarding the change from the $250 picture reflected on the DoC page currently.

However, based on this, I’m guessing the fine print didn’t change and only the picture did, so should suffice to have that.

payyoutuesday
payyoutuesday

If you would like to disprove my statement, please quote the terms, new or old, that state that an aggregated total of $500 per month qualifies you for the bonus.

Michael
Michael

William Charles @LAG, I also didn’t receive my bonus. I set up twice monthly recurring payroll direct deposits of $5,000 to fulfill the requirement. I fulfilled all the requirements and never got my bonus, and multiple secure messages to TDECU about the bonus were answered and never any indication about being disqualified from the bonus.

Well I’ve just been called by a TDECU rep saying that I disqualified myself a few days after setting up the account. The thing is there is no functionality to send/receive money between your other accounts via TDECU, so if you want to transfer to/from Chase, for instance, you have to push/pull from Chase to TDECU. So after setting up my TDECU account I linked the account via Chase and sent myself $3 from Chase to TDECU just to ensure the accounts were linked. I am told by TDECU that this self-transfer counted as a direct deposit and was less than the $250 requirement, therefore I’m disqualified and tough luck, “the rules are the rules”.

I checked the screenshot of the bonus page and it just says that a recurring DD of $250+ has to be set up by 9/15/19, which I did. But they are saying because one of my first deposits was this self-transfer test for $3, that counts as a recurring DD and was less than the $250 threshold therefore I should bug off.

Seems like bait-and-switch. Does anyone think this merits a CFPB complaint?

LAG
LAG

Thanks for the detailed DP… I haven’t tried messaging yet, but certainly will. I think your DP merits another HUCA maybe more than one before necessitating the CFPB, but I think it certainly does merit a complaint there as well if they aren’t willing to post for a legitimate payroll DP and I certainly will do so if they don’t post it.

Michael
Michael

@LAG William Charles I just got a call back from a supervisor and she said they reviewed the account and that I did qualify for the signup bonus after all. So she manually applied the $200 to my account and apologized for the inconvenience. So it worked out after all.

I think the best way to contact TDECU is through the Secure Message function on the web interface. State your whole case and why you think you qualify for the bonus, that way it’s on the record and the CSR response will be on the record as well.

If you’re not happy with the response, reply back via Secure Message and ask them to have a supervisor contact you back via telephone and leave your number.

LAG
LAG

William Charles Adding to DPs, be prepared to fight for this one…

Both checking & share savings account have been maintained with >$1 balance, real DD since account opening (6/30) and I didn’t receive automatic bonus post within the 60 days per T&C, so I SM to request bonus.

“After further review your account doesn’t qualify for the promotion because the promotion was listed for the Houston communities and not the city in which you live in (San Antonio). I do greatly apologize for the inconvenience.”

Note there has never been a reference to restricted communities in the T&C, nor is it currently listed as such on their website, so recommending screen shot of this to support. Hoping @Michael is right about escalating to supervisor to get it credited; otherwise, CFPB complaint may be needed.

LAG
LAG

As a final DP to this saga, my conclusion is: Bonus received!

I had sent a message back asking them to escalate to supervisor and received this response:

“Thank you for contacting TDECU.I will be happy to assist with your promotion. Currently we are reviewing your account to determine why you are not eligible for the promotion.”

I was taken aback by the phrasing that they are reviewing “why you are not eligible” as opposed to indicating they were checking why the system isn’t posting automatically or even just an apology for the confusion while they investigate, but I’m happy to at least be able to report the good news that escalating still seems to be working.

Clay
Clay

An update to my earlier posts: I WAS given a hard pull. Saw it on trans union a few days after my initial post. Sorry for that disinfo.

Was denied the bonus by SM. I had real DDs and was told the promotion was only for Houston area. Asked to escalate to a supervisor and they credited me (without comment).

I’m betting we won’t see too many bonuses from this CU in the future. They seem like they weren’t prepared for the amount of interest. The $5k funding was nice.

random
random

I emailed TDECU today regarding opening an account and the rep stated the following:

“Thank you for contacting TDECU, I will be happy to assist you with your account inquiry. The credit pull will be a hard inquiry.

If there is anything else I can do, please feel free to contact me at your convenience. If I am unavailable, you may speak with any available Member Care Specialist at 800-839-1154 ext 7010, Monday through Friday, 8:00 a.m. to 6:00 p.m., and Saturday, 8:00 a.m. to 2:00 p.m.

It has been my pleasure to serve you, Mr. [Smith], and thank you for contacting TDECU – Your Credit Union.”

Duke I.
Duke I.

It’s usually always a hard inquiry at credit unions.

payyoutuesday
payyoutuesday

My wife and I both met the terms of the bonus offer (real DDs that are still continuing). The bonus did not post automatically for either of us. I SMed about mine, they promised to review, said I had met the terms, said that the incentive would post within a couple of days, then said that the promotion was intended for Houston-area residents only and therefore I did not qualify. Others have also reported the Houston twist. This was over several SMs. I asked for escalation to management, pointing out that there is no Houston-related requirement in the terms, and the bonus was eventually credited to my account.

My wife SMed about a week after I did, they promised to review, and they credited the bonus. She actually got hers before I did, without any of the Houston rigamarole.

Lessons: The bonus will probably not post automatically (any counter-DPs?). If not (and you actually met the terms with real DDs), you may have to diligently (but politely) pursue it, escalating to management if necessary. It can all be done via SM. If you met the terms, you will eventually get the bonus.

Finally, the terms say that they will post the bonus within 60 days of meeting the qualifications. One of the SMs said that they start counting the 60-day period beginning with the second of the recurring DDs.

Jimbob
Jimbob

Even though I opt out of courtesy pay, mobile deposit, overdraft, etc… it was still a hard pull on EQ. Opened HY checking and funded with SW Performance Biz.

matz
matz

declined bonus, no real DD, not in houston, escalated to supervisor but they flat out declined saying because its not payroll DD.
filed CFPB complaint but they won’t handle it so they forward it to NCUA. NCUA response saying that its not within their responsibility, suggested me to contact Texas Credit Union Department. I gave up.

payyoutuesday
payyoutuesday

If you don’t have real DDs, you either get the bonus or you don’t. But you don’t protest the outcome, because you didn’t meet the terms of the bonus offer!

Matz
Matz

True, but doesn’t hurt to try

payyoutuesday
payyoutuesday

But it can hurt, as Betelgeuse pointed out. See DoC’s article: https://www.doctorofcredit.com/dont-call-the-bank/

Matz
Matz

Well, what else you can do though ? Doing nothing won’t change the situation. By calling there is some hope, however small it may be.

payyoutuesday
payyoutuesday

You tried to game the system with fake DDs; it didn’t work. What if there are some fake DDs that do work at this CU? The only thing you are doing by pursuing your baseless complaint is drawing attention to these loopholes. If everyone reacted the way you have, these loopholes wouldn’t even exist. Just move on when fake DDs don’t work. It’s in everybody’s long-term interests, even yours.

matz
matz

Arguably its still a technically a real DD. No where in the requirement mention a specific type of DD.

Betelgeuse
Betelgeuse

Yeah contacting the bank when not using real dd just brings it to their attention that people are using fake dd to get bonuses.

tolikfox
tolikfox

I had real Payroll DD’s. Did not get the bonus initially, contacted TDECU and nothing happened. Filed CFPB and they forwarded to NCUA, then Texas Credit Union. But all this was done automatically. Someone from Texas Credit Union contacted me this morning, got my bonus later in the day lol. All this took approx 2 months. For those in the same boat, if you do file a complaint just go straight to Texas Credit Union

michaeld
michaeld

I applied for an account to meet MSR on a new Amex BGR card. I live in one of the designated counties so I’m not worried about the bonus being denied. I was able to charge $7.5k to the card, $2.5k/account. I haven’t been able to move any of it yet, but the charge has been applied to my card as shows in the accounts.

William Charles When I applied my Equifax report was pulled. I, like many others, made sure to opt out of anything that might cause it, but I was still checked. Maybe they check people deposit large sums on credit cards? Who knows? I was asked to provide proof of ID (I applied with passport) so I sent my driver’s license. But that had my old address (though still in an eligible county) so I had to follow up with a utility bill to prove residence.

For me, the hard pull is worth the 7.5/10k MSR of the BGR so I’m pleased that I should be able to get a bank bonus out of this as well.

Kyle
Kyle

Anyone tried Capital One funding with this bank? I want to use my Venture card, but don’t want it to code as cash advance. Thank you!

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