Offer at a glance
- Maximum bonus amount: $300
- Availability: NY only (branch locator)
- Direct deposit required: None
- Additional requirements: 20 debit card transactions
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, avoidable
- Early account termination fee: Account must remain open through 9/30/19
- Household limit: None
- Expiration date: None listed, but must complete debit card transactions by May 31st, 2019
- Summit Federal Credit Union is offering a bonus of $150 when you open a new checking account and complete the following requirements:
- Make 20 debit card purchases by May 31st, 2019
- According to the terms it looks like you can order two debit cards per account and get a bonus of up to $300 total
The Fine Print
- Offer limited to members that have not had a debit card in the past 12 months. Limited to 2 cardholders per account (up to $300 maximum with Premium Checking or $150 maximum with Enhanced Checking).
- To receive the $150 bonus with Premium Checking or $75 with Enhanced Checking, you must order a new debit card between 2/4/19 and 3/31/19, have 20 point-of-sale transactions post to your account by 5/31/19 and the card and account must remain open through 9/30/19.
- Please allow 4-6 weeks after meeting qualifications to receive your gift.
- Cash bonus will be reported and you will receive IRS Form 1099-INT.
- Any applicable taxes are the responsibility of the member.
- Offer subject to change at any time at our sole discretion without notice.
- The Account Maintenance Fee is waived if you meet certain conditions. See branch for details.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Premium checking account (required for the $150 bonus) has a $5 monthly fee. This is waived if you have a daily balance of $1,000 or more.
Early Account Termination Fee
Account must remain open through 9/30/19, otherwise it looks like the bonus will be forfeit.
Seems like an amazing offer, especially if you can do it twice per account for a total bonus of $300. It’s not clear if you’ll be able to open via phone/online or if you eventually need to go in branch. Definitely worth doing if it’s a soft pull, if anybody goes for this bonus then please share your experiences in the comments below.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
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- 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?
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- Banks That Allow/Don’t Allow Out Of State Checking Applications
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The post [NY only] Summit Federal Credit Union Up To $300 Checking Bonus – Direct Deposit Not Required appeared first on Doctor Of Credit.