Posted by William Charles on June 11, 2017
Bank Account Bonuses

Published on June 11th, 2017 | by William Charles

21

[WI & MN only] TruStone Financial $100 Checking Bonus – No Direct Deposit Required

Offer is back for 2017.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Select areas in WI & MN
  • Direct deposit required: No
  • Additional requirements: Five debit card transactions, eStatements & online banking
  • Hard/soft pull: Soft/Report of hard pull
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: $20, 6 months
  • Expiration date: August 6th, 2016 6/05/17 through 8/5/17

The Offer

Direct link to offer

  • Receive a sign up bonus of $100 when you open a new checking account with TruStone Financial and complete the following requirements within 30 days:
    • Receive $50 when you open with a debit card and make five purchase transactions
    • Receive $50 when you enroll in online banking and eStatements
  • You can also receive an APY of 2.02% on balances of up to $20,000 by doing the following:
    • Hold active visa credit & debit cards and make a combination of at least 12 transactions posted to the account by the last business day for debit cards and second to last business day for Visa credit card transactions
    • Enroll in and maintain Online Banking and eStatements and maintain a minimum daily balance of $2,000

trustone $100 bonus

The Fine Print

$100 Bonus

  • Offer valid 6/05/17 through 8/5/17.
  • Cash back amounts are based on the following completed actions: 1) $50 for opening a new checking account with a debit card and making five purchase transactions. 2) $50 for enrolling in Online Banking and eStatements.
  • Both actions must be completed within 30 days of account opening for cash back to be received.
  • Only one account per membership is eligible and member must not already have a checking account.
  • Allow up to 60 days from account opening for deposits to be made.
  • Recipient is responsible for any taxes incurred on cash back.
  • $5 membership is required. Must be 16 years of age or older.
  • Those under 18 years old must have a parent or guardian on the account to be eligible for cash back. This offer cannot be combined and may be discontinued at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

2.02% APY

  • TruRate Checking receives 2.02% Annual Percentage Yield (APY) on balances up to $20,000 and 0.10% APY on balances over $20,000 by adhering to the following conditions: Account holders must maintain active Visa® credit and debit cards (a combination of a minimum of 12 transactions posted by the last business day of the month for debit cards; second to last business day for Visa credit card transactions), enroll in and maintain Online Banking and eStatements and maintain a minimum daily balance of $2,000. If any of the requirements are not met in a given month, the APY drops to 0.10% on all balances. Accounts closed before the end of the calendar month will earn 0.10% APY on all balances for that month.
  • A $20 monthly fee will be assessed if the balance falls below required $2,000 minimum on any given day.
  • Limit one account per household.
  • Primary account holder must be 18 years of age or older. TruRate Checking is not available for trust or business accounts.

Credit Cards

Because the 2.02% rate requires a credit card, I thought I’d have a quick look at their offerings. None of the cards offer a sign up bonus, so I wouldn’t bother with the rewards checking account especially when their are better options out there.

Avoiding Fees

Their value checking account (0% APY) has no monthly fee. Their TruRate checking account (up to 2.02% APY) has a $20 monthly fee that is waived with a minimum $2,000 balance. A $20 fee is charged if the account is closed within 6 months of opening according to their fee schedule.

Our Verdict

As we mentioned, the high interest account isn’t worth looking at but the $100 bonus is quite good. There is no direct deposit requirement or monthly fee, because it’s a soft pull to open it’s an account I’d recommend. We’ve added it to the bank account sign up bonuses we recommend here.

Big thanks to reader, David who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

Useful posts regarding bank bonuses:



21 Responses to [WI & MN only] TruStone Financial $100 Checking Bonus – No Direct Deposit Required

  1. Just submitted the application. It says the system was unable to automatically approve me & that a rep would be reaching out. Also, unfortunately there is no option to fund via credit card.

  2. M. Smith says:

    Got the same as David…

    We need more information
    Thank you for your application. Unfortunately, our system was unable to automatically approve you. However, one of our Member Service Representatives will contact you within one to two business days to gain additional details necessary to review your application.

    • M. Smith says:

      Got my reply:

      “Thank you for your online internet request to become a member of TruStone Financial Federal Credit Union. Our online application process has been designed to protect you, our prospective member and the credit union from adverse activities including identity theft and fraudulent transactions.

      This is not a denial of membership. The information you provided in the online Membership Application was processed through multiple screening services resulting in a, ‘Open at branch’ recommendation.”

      There is actually a branch on my way home. Not sure it’s worth dragging the baby there on our travels.

  3. Aureliano says:

    They pulled my ChexSystem and Experian softly and denied.

  4. Michael says:

    A few data points. I was able to open and fund this account easily from MN. I funded via Cap1 360 mailed check ($30 – $5 savings & $25 checking). Very nice personal account person I dealt with to open accounts over the phone/email. Never got login information or account/routing information in the mail. I had to call/ email in, but they were very nice and helpful with that all.

    Just got $50 debit card use bonus, day after fulfilling 5x (Walmart SCO debit card usage). Signed up for estatements 7/19, hope that posts quick too!

  5. Darv says:

    I opened this in a branch in the Twin Cities. They did a hard pull, Experian. The worst part is they did not tell me they were going to do a hard pull.

    The best part is that the bonus was easy to meet. $50 was credited within days for the statements and again within days for the debit card transactions.

    The branch experience wasn’t great, even aside from the hard pull situation. And the decor–way too much wood. Felt like I was in a northwoods cabin at times.

    Their website is incredibly bad. Very difficult to register, and after that quite poor.

  6. Joe says:

    Doc, please update post.

    Walked out of Branch, it is a HARD Experian Pull and a soft ChexSystems.

  7. Stevil says:

    Traded emails with CSR this morning. Definitely a hard pull for all new memberships.

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