Offer at a glance
- Maximum bonus amount: $200
- Availability: Certain counties in TX, more information here.
- Direct deposit required: Yes, $500+
- Additional requirements: See below
- Hard/soft pull: Old data points say hard pull, new datapoints say soft pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $2,500 with a credit card per account
- Monthly fees: $5, avoidable
- Early account termination fee: No early account termination fee
- Household limit: None listed
- Expiration date:
Contents
The 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:
- 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
I know this bonus expired, but want to open account for MSR purposes. Any advice for OOS ?
payyoutuesday
I think several of us got denied due to Chex. They will charge your card right away then refund you later when they deny you. At least that was the case for me.
Not related to this bonus exactly, but another AMEX DP and confirmation the accounts can be opened/closed.
I closed account in October last year and needed to complete another MSR (BBP with a large credit line), so I decided to try and open this account a second time (without bonus).
I applied earlier this week and was approved the next day. Funded all 4 accounts with 2.5k using the BBP (10k total). Amex card number still triggers the “error” I mention last time saying that it’s not a valid card number, but the charge was taken just fine and the balance for each account was deposited the day following my account approval and all were noted as “available” balance, so it seems they sped up their processing/hold time vs the last time I posted (June).
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!
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.
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.
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.
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!
True, but doesn’t hurt to try
But it can hurt, as
Betelgeuse pointed out. See DoC’s article: https://www.doctorofcredit.com/dont-call-the-bank/
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.
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.
Arguably its still a technically a real DD. No where in the requirement mention a specific type of DD.
Yeah contacting the bank when not using real dd just brings it to their attention that people are using fake dd to get bonuses.
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
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.
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.
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.”
It’s usually always a hard inquiry at credit unions.
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.
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.
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.