Offer at a glance
- Maximum bonus amount:Â $400
- Availability:Â Must live, work or worship in:
- Washington, state wide
- Idaho: Boundary, Bonner, Kootenai, Benewah, Shoshone, Latah, Nez Perce, Lewis
- Montana: Missoula, Granite, Lake, Mineral, Powell, Ravalli, Sanders, Beaverhead, Broadwater, Deer Lodge, Gallatin, Jefferson, Lewis and Clark, Silver bow
- Direct deposit required:Â Yes, no minimum specified
- Additional requirements: 15 debit card transactions
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees:Â None listed
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The Offer
- Horizon Bank is offering a bonus of $400 when you complete the following requirements:
- Open a tether savings and checking account and keep them open for at least 90 days
- Complete 15 debit card transactions
- Set up a direct deposit
The Fine Print
- Here’s the scoop on how to qualify for the $400 – be sure to open both the Tether savings and checking accounts.
- Keep them open at least 90 days, complete 15 debit card transactions (that’s just 5 a month, you do that in a weekend, right?) and set up direct deposit (this ensures you get your paycheck as soon as possible anyway!).
- There are some restrictions and it’s on approved credit.
-  New members will pay a $20 membership fee (to become part of the coolest coop around). Current Horizon checking members, sorry! You don’t qualify for this particular offer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Membership Fee
There is a $20 membership fee, this is not avoidable
Monthly Fees
These accounts have no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee. The accounts do need to be kept open for at least 90 days though.
Our Verdict
Seems like a great bonus, unfortunately it seems like it’s a hard pull to open so might not be worth it for most readers. Although as credit card issuers make it harder to get approved for cards for other reasons hard pulls become less of an issue.
Hat tip to reader James P
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
Citi Doublecash coded as a purchase for me. Two transactions with one for $495 and the 2nd for $5.
Not sure about my work situation, just in case, wondering if unemployment check usually qualifies as DD like social security/pension? TIA!
Yes, unemployment should qualify. Most banks define Direct Deposit as “Paycheck or Government Benefits.”
Chase Freedom Unlimited codes as Cash Advance. I am seeing 2 separate transactions on my card..one for Savings account and other for Checking account funding.
Is there a way for me now to avoid the cash advance fees? Thanks in advance.
Opened my account, CSR said there’s four things I have to do for the bonus:
– eStatements
– setup direct deposit (any amount is fine)
– 15 debit transactions
– transfer $50 from checkings to savings once a month (can immediately transfer back)
savings earns 1.50 APY up to 15k
Does “set up a direct deposit” literally mean just receive one direct deposit?
Barclay Arrival Plus codes as purchase.
Applied 7/17, rep called 7/20 to verify information, and approved immediately after. Hard pull Experian. Confirmed that bonus is automatically attached to my account. I’m at 13/12 – didn’t seem to care. I have a feeling that a real DD is required but we will see. Horizon is a nice bank, have been to their headquarters.
Funded with Chase IHG Premier MasterCard. I had lowered my cash advance to $100. Posted as a regular purchase.
can validate, at least in my case, that cc funding codes as cash advance. super smooth signup process online and representative contacted me next business day to confirm my application. she also mentioned an issue running the card that i provided (chase biz; cash advance disabled). she still sent signup paperwork and received account info after returning. have set up an external account transfer to fund account.
of particular note, had to specifically mention the checking bonus during call. seems it didn’t automatically attach in my case. super friendly service, btw!
Do they allow applicants who merely worship in a state (and how do they verify)?
There was a previous offer from different bank that claimed you only needed to worship to qualify, but didn’t allow it to be selected in the application.
They do allow that. The membership guidelines state “Live, work, or worship”. I believe you would state HOW you worship to the employee after you open and they would be fine with it. I am a member here and they are awesome!
Can you refer people?