Update 7/24/22: Referral bonus is now $100/$100 for both parties.
Update 4/21/21: Current $100/$150 referral offer will end May 7; new referral program will launch after that. Hat tip to reader Ben
Offer at a glance
- Maximum bonus amount: $100
- Availability: WA only
- Direct deposit required: Yes, $500+
- Additional requirements:
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $1,000
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: None listed
- Verity Credit Union is offering a bonus a referral bonus. The person referring receives $100 and the person being referred can earn up to $100. Bonus requirements are as follows:
- Open checking account with direct deposit ($500 minimum)
The Fine Print
- Referred member must join Verity online and open a checking account with direct deposit.
- Direct deposit(s) totaling at least $500 must post within 60 days of account opening in order to qualify—IRS tax refunds or stimulus funds are excluded. Referral incentive will be paid to both parties within 2 weeks of direct deposit qualification date.
- Referred member must open new membership through online application at veritycu.com and not have been an owner of a Verity Prime Share Savings account within the previous two years.
- Cannot be combined with any other incentive offer.
- Youth memberships are excluded and you must be at least 18 years old to receive referral incentive.
- Bonuses are considered interest and will be reported on IRS form 1099-INT.
- Limited time offer and subject to change at any time. Federally insured by NCUA.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
The rewards checking account has no monthly fees to worry about
Early Account Termination Fee
According to the fee schedule, no mention of an early account termination fee.
Not as good as the previous $200 deal that didn’t require a direct deposit. We will be adding this to our list of the best checking bonuses.
Hat tip to reader obrother & Beat2def
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