[WA, ID & OR only] BECU $200 Checking Bonus No Direct Deposit Required

Update 4/2/24: Extended until June 30, 2024

Update 1/14/24: Extended until 3/31/2024

Update 5/27/23: Deal is back and valid until 12/31/23.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must be eligible to join CU (live, work or worshipping in Washington State qualifies you – more options here). Looks like it’s also available to some in Oregon as well. Idaho: Live, work, worship, or attend school in Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce or Shoshone county
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Yes, sensitive
• Credit card funding: Unknown 
• Monthly fees: None listed
• Early account termination fee: None listed
• Expiration date: 3/31/2023

The Offer

Direct link to offer

• BECU is offering a $200 checking bonus when you open a new checking account with the promo code PASSPORTMBR and perform 5 qualifying actions within the first 30 days of joining:
  • Make a purchase using your BECU Debit Mastercard®.
  • Write a check or electronic check.
  • Make a payment using BECU Bill Pay.
• Or deposit $500 or more into your checking account.

The Fine Print

• 1Redeemable at any BECU location and online. The promo code 23Q1CONV must be entered at time of application. BECU is not required to pay the promotional incentive for accounts opened without the appropriate promo code. New member may not be an existing member, must be 18 years or older, within BECU’s field of membership, and be eligible to open and maintain membership. Not all applicants will qualify. New members who are rejoining but have had a membership relationship with BECU in the last six (6) months do not qualify. Business, Fiduciary, Zero-Dividend, HSA, and Early Savers accounts are not eligible to receive deposit bonuses. BECU employees are also not eligible to receive deposit bonuses. New member will receive the $200 bonus deposit to the open Member Advantage savings account within 120 days of opening qualifying accounts and meeting the utilization requirements within 30 days. Accounts must remain open and in good standing for at least 90 days. Bonus deposits will not be made to closed accounts. $200 bonus deposit will be reported for the new member as interest income to the IRS on Form 1099-INT at year-end. Other terms, limitations, and conditions may apply. Check with BECU for current Annual Percentage Yield (APY) of accounts. BECU reserves the right to terminate this offer at any time.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Their member advantage and regular checking accounts both come with no monthly fee, you’re probably better off with the member advantage checking account as this earns 4.07% APY on balances up to $500

Early Account Termination Fee

As far as I could see there was no early account termination fee in their fee schedule.

Our Verdict

Better than the previous $100 referral bonus as this way the person signing up gets the full $200 bonus. Deal might also be nationwide. This bonus is definitely worth chasing, just keep in mind they are very ChexSystems sensitive so people might not get approved unfortunately.

Hat tip to reader Flip

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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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