Update 3/19/21: Can currently get a $150 bonus as well. Hat tip to reader Michael No longer available
Update 6/7/20: Rate has been reduced to 0.52%, obviously no longer worth considering.
Offer at a glance
- Interest Rate: 4% APY
- Minimum Balance: None
- Maximum Balance: $4,000
- Availability: WA
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Yes
- Credit card funding: Up to $500
- Monthly fees: None
- Insured: NCUA
The Offer
- Harborstone Credit Union offers the BreakFree checking account. This earns 4% APY on balances up to $4,000 when the following requirements are met:
- Sign into online banking
- Set up at least one direct deposit or automatic ACH withdrawal
- Make a minimum of 12 debit card transactions of at least $3+ per month
Avoiding Fees
This account has no monthly fees to worry about.
Our Verdict
This account has a lot of requirements, especially when you remember this is only for balances up to $4,000. Most people will be better off sticking to another high yield checking account.
Hat tip to reader Heidi
P2 received a targeted promo email. Annoying that bill payments do not qualify, but I have to wonder if they mean online banking bill payment and not exclude paying a bill using your debit card. They have a way out of paying in the highlight sentence below.
Subj: Earn cash back this summer!
From June 15 to July 31, 2022, simply use your card for everyday purchases and earn $1 for each purchase, up to $20!
Once you’ve completed five purchases, those dollars will start stacking up. When the promotion is over, we will automatically credit your account for the amount you earned.
Earn up to $20 Using Your Harborstone Debit Card!*
*Offer applies only to the addressee. Use the card ending in xxxx to make qualifying purchases between June 15 to July 31, 2022. A rebate of $1 per purchase transaction will be issued to members who complete five or more purchases during the promotional period with a maximum rebate of $20. Harborstone shall determine which purchases qualify. This offer expires July 31, 2022. Limit one rebate per account for a maximum rebate of $20. Allow six to eight weeks for cash bonus to be deposited to your account, which must be open and in good standing at the time of the credit. Offer only valid for the intended recipient and is not transferable. Purchase refunds/reversals, ATM transactions and bill payments do not qualify.
3/31: opened account, 500 BofA posted as purchase
4/13: requirements met. My account was immediately locked after I did Ally trial deposits and it took a week to unlock it after opening the account. I also was able to track my rewards through their app.
5/21: bonus posted!
Signed up on 3/30. Paid a credit card bill from the account, for the Direct Deposit requirement. (Though based on what I saw on the tracker next month, a regular transfer would have been fine.) Got the debit card and made twelve $3 Amazon Gift Card transactions. The bonus posted to checking on 5/21. I did not need to meet the requirements the 2nd month.
I had similar issues signing up too, like have already been mentioned. It took really long, and I had to call a few times. Most of the time, they wouldn’t even answer or call back. It seems like a small credit union, like this sort of response may have been unusual. Maybe some people were trying to sign up who aren’t actually eligible for membership too.
Based on the sign up experience, I was half-expecting them to either not pay the bonus or need to be reminded. But it was fine in the end. Pretty normal bonus, besides the rocky start.
$150 bonus paid out 5/21… for P1.
3/20 Opening deposit
4/13 12x debits $3.xx
4/20 2x bill pays
5/21 $150 Breakfree Promo Incentive
However, P2… Did not get the bonus yet.
3/31 Opening deposit
4/19 12x debits $3.xx
4/19 1 bill pay
Per terms they had 90 days from meeting reqs, so I will have P2 wait awhile before inquiring. Based on my timeline, I’d assume they are going off opening date though.
Svy 
Danno 
gmoneyspent 
CT 
Jason_08
Me and P2 got it today as well!
Same here.
Oh, I remember really why I did NOT have P2 apply SD reported below that “Online application restricts Citizenship selection to US only.”
My bonus posted today as well. Still waiting on P2. Is there an early termination fee? I didn’t see anything specified on that so I’m assuming there wouldn’t be.
Contacted the CU via SM for P2. As predicted, got told to keep on waiting…
“I do see the account started at the end of March and that you did meet the requirements for the incentive by the end of April. Having completed those you will receive that $150 incentive within 90 days from completing the tasks. With that the incentive will be added into your account anytime between now and by the end of July.”
No, I didn’t see anything about an ETF either.
6/11/21 Breakfree Promo Incentive $150
Opening this account for me and P2 took way longer than it needed to. Customer service said that they’ve slowed down the application process due to lots of fraud in recent months.
The 12 debit card purchases must be $3 or more each.
There is a neat tool on the mobile app to check if you meet the requirements. Click on more and then Breakfree Rewards. This was mentioned in the link above but I missed it so just want to let anyone else on this bonus on it.
Need to be a resident of the State of Washington. Or member of military Or work in civil service.
Drop down box when applying. Also, a savings account is required.
Application submitted Mar 19 and went pending. Application Denied on Mar 22, no specific reason given in denial email. May give them a call tomorrow and see what can be done w/o visiting a branch.
Called in, no specific denial reason could be provided but was invited in branch to complete another application.
Same timeline, same result. Sounds like I shouldn’t bother calling in
Got a courtesy call from an online accts opening rep… 1st business day after opening online.
– Called to ask one of the anti-terrorism questions about occupation. She also noted I had already uploaded Mil ID.
mothman69 
Svy 
Danno 
Jason_08 
BlissfulApathy
– She mentioned there is a 5 business day hold on funds in the account. (Beware noobies & proactive souls – your trial deposits will be denied – not returned – cause problems with your other bank)
– Said to expect an e-mail after the 5 bus. days to let me know the account is ready to use.
– She mentioned the promo code is on the application, and that I need to fulfill the bonus requirements next month to get the $150.
FYI
Thanks for the details, Gadget. You’re a most helpful individual. Also, I don’t know how I didn’t make the connection about your website, but I just clicked and saw that it mentions this site in a very positive way, so I’ll peruse it and try to get you at least one referral bonus next time I’m looking. Thanks for everything you do
Gadget - Bank Bonus Geek
Thank you for the compliment. When I tagged you, I was digging around trying to find other names I recognized on the military bonuses… and then as soon as I hit send, saw you are already been a member of this CU. Are you going to try for a churn?
I appreciate the tag. My application was denied due to Chex inquiries with a score of 565.
When I have pulled my score in the past it’s been in the 600’s, so I must be close. I don’t bother keeping track because most banks don’t reference it.
The rep I spoke to seemed pretty sharp (or at least good at pretending) so I think your mil status may have been an issue anyway. On to the next.
I requested my Chex score a few days after this convo. Recv today in the mail, dated 3/30: 572
However, there was one more recent Chex pull after Harborstone included in the score here so might have been a tad higher at the time.
In prep for reviewing the Chex report of my brother who was recently a victim of financial fraud, I ordered mine. Only 42 inquiries within last 36 months, and 14 of those were in the last 12 months. So I am picking up steam. In bank bonus land, are there any I should focus on before my Chex numbers get bigger. I know if the past, you were wishful about some credit unions letting you in, but did not because of Chex or other things?
https://www.doctorofcredit.com/banks-credit-unions-chexsystems-inquiry-sensitive/
This list is pretty good. Sandy Spring might have lowered their bar, or it was just a Work from Home anomaly that some bank bonus miners were able to get accounts.
We will see if you are still thanking me next month,
Svy.
UPDATE: It’s been over a week and my account is still on hold. Sometime around the same time I spoke to the new account rep, they actually locked me out of the online banking account, which I assume was part of their “hold” measure as the login message clearly states the account is on hold. I assume they are either behind schedule or have an issue with my Chex, but I cannot get an answer from them when I called the number listed. I will call again tomorrow.
$500 Funding when through Citi Double Cash on 20 March, per Citi login, and posted as purchase. So, they have had my application 7 bus. days now.
Since they allow immediate family members and have no HH restriction on the promo, I was going to try to get P2 signed up. Not sure that will happen now, or if it is even a good idea.
Maybe that rep you spoke to was “too sharp”? 😉
LOL – Maybe? But just rip the band-aid off and reject me already. Nobody else mentioned this long of a wait, so guess I am a special case. Optimistically, I hope they are just backlogged. This isn’t a large CU.
I opened mine on 3/19 and mine and P2’s accounts were put on hold as well. I called in maybe a week ago and they said it would be a 7 day business hold. We are well past that. I’ll call in this morning.
Thanks for confirming – there is security in numbers.
It’s not uncommon for a couple day hold, but weird they lock you out of online banking, esp since I had it already set up.
OneWest Bank told me 10 business day hold… two full weeks… when opening in branch using personal check. Not sure if it would have been the same for cash, but good grief, they sure do not trust new customers. It’s better than being denied, though.
Also had my account on hold after my card has already been charged. Spoke to somebody a couple of days ago and was told my account will be on hold till March 31 which is today (Still on hold as of 7 pm). The rep was kind of surprised that I even was able to have online banking enabled and asked where did I get my account information to even enroll in online banking to which I replied I was given it after my application was seemingly approved. Anyway seems like this bank is kind of incompetent so even if they are going to decline me in the end I would be glad.
“Your account has been placed on hold. To remove the hold on your account, contact us at (253) 584-2260 or 1-800-523-3641.”
I gave up calling and just waiting on the e-mail that I was told that will happen many days ago.
Signed up P2 on the last day of promo – so she is a good week & a half behind me.
Svy
No, still locked. @gmoneyspent did you have to call in to get it unlocked or did it just happen after some time?
Late last night mine was still locked, but today I can log in. Must have people working on Saturday to clear the backlog.
Says they charged me a $5 membership fee on 4/3/21. Guess I may or may not see that back when I close the account. A statement was generated on 3/31, and looks completely normal, acct funded on 3/20.
I see my P2 never lost access to her account and has a NORMAL kind of hold I am used to seeing, not a lockout. Online banking on her account shows “MGMT on 04/02/21 / Expires on 04/06/21” -$500 & -$10 to negate the deposits.
Recv e-mail 4/5: Debit card placed on order! Winning!
Applied 7 days ago and just received the debit card placed on order message. I have not called in to see about the “account placed on hold” message when I tried logging in most recently. I guess I’ll try logging in later today to see if I still receive that warning. I guess Gadget paved the way to make it smoother for us follow-on applicants? 🙂
Logged in successfully tonight. So, there is no apparent need for me to call for now. Awaiting my DC to make the 12x $3 or more DC transactions to qualify for BreakFree Checking since I have already successfully logged in this month, which is the other requirement, I think. Unclear to me whether my 03/30/2021 CC funding is actually available yet, but I am thinking that it should be by the time I receive my DC.
I also got my account unlocked a few days ago along with an email saying my debit card has been ordered. Notice the $5 fee too and it is unlike a normal credit union membership fee where you normally get it back when you close your account so this bonus is more like $145.
Thanks for the tag. Will see how this goes
It’s expired now… Unless you got in March 31st or earlier.