Update 4/23/22: Deal is back and now $200. Hat tip to Lopeza101
Offer at a glance
- Maximum bonus amount: $200
- Availability: Anyone who lives, works, worships or attends school in Baltimore City
- Direct deposit required: Yes, $500+ for two consecutive months
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown, not sensitive
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Six months, bonus forfeit
- Household limit: None listed
- Expiration date:
October 31st, 2019May 25, 2022
The Offer
- MECU Credit Union is offering a bonus of $200 when you open a new checking account and complete the following requirements for two consecutive months after account opening:
- Set up and receive direct deposits totaling $400 or more
- Make 12 or more debit card purchases
- Opt in to paperless eStatements
The Fine Print
- This offer is valid for new consumer CashBack Checking and RewardChecking accounts. This offer is intended for new checking members only. You are not eligible for this offer if you are a current owner of a MECU consumer checking account as of June 20, 2019. Business and Fiduciary accounts are not eligible for this offer.
- To receive a $150 bonus, open a new, eligible MECU consumer checking account with a minimum opening deposit of $25 by October 31, 2019. All account applications are subject to approval. For two consecutive months after account opening, complete the following qualifying activities: 1) receive a cumulative monthly total of $500 or more in qualifying direct deposits to the checking account; 2) complete 12 or more debit card purchases; and 3) enroll in paperless e-Statements. A qualifying direct deposit is the member’s salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) by your employer or third party.
- We will deposit the bonus into your new checking account within 30 days after meeting all offer requirements. The new checking account must remain open with a balance of $1 or more to receive any earned bonus payments. You are responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor.
- If the checking account is closed within six months of account opening, MECU reserves the right to deduct the bonus from the account at the time of closing. Offer is non-transferable and cannot be combined with other offers. This offer is subject to change and may be discontinued at any time without prior notice. Membership eligibility required. Other restrictions may apply.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Neither account has any monthly fee to worry about
Early Account Termination Fee
Bonus needs to be kept open for six months otherwise bonus will be forfeit
Our Verdict
We need to know if it’s a hard or soft pull to open before determining if this worth doing or not. If anybody goes for this bonus then share your experiences in the comments below.
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
