[OH Only] BMI Federal Credit Union $200 Checking Bonus – Direct Deposit Not Required

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Update 5/21/22: Deal is back, but $200 instead of $150. Hat tip to reader Joe.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: BMI FCU is open to everyone who lives, works, worships or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware or Morrow County.
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Mixed Datapoints
  • ChexSystems: Unknown
  • Credit card funding: Up to $250 with Visa or Mastercard
  • Monthly fees: None
  • Early account termination fee: Six months bonus forfeit, bonus forfeit
  • Household limit: None listed
  • Expiration date: December 31st, 2020 December 31st, 2021

The Offer

Direct link to offer

  • BMI Federal is offering a bonus of $150 when you open a new checking account. You can also get $150 for referring a friend (must be a member for at least six months)
    • Use promo code NEWCHK22
    • Open and deposit at least $20
    • Enroll in eStatements
    • Complete at least 30 debit card transactions of $5 each

The Fine Print

  • Enter promo code CHECK20 when applying online or mention when applying in person.
  • Cash bonus of $150 will be deposited in the member’s savings account within 10 business days after all qualifications have been met.
  • The following requirements must be met in the first 90 days after the account is opened:
    • Open and deposit $20.00 into a new free checking account.
    • Make a minimum of 30 Visa® debit card transactions of at least $5/each in the first 90 days.
    • Member must sign up for electronic statements.
  • Cash bonus may be considered income and reported on 1099-MISC or 1099-INT.
  • Offer not valid on Starting Over Checking, Platinum checking, or Business accounts.
  • This offer is not available to those with fiduciary accounts, those who have closed an account within 12 months, or have a negative balance.
  • Checking account must remain open for a minimum of 6 months or the bonus will be debited from the account at closing.
  • Offer cannot be combined with other checking offers. Membership eligibility and account requirements apply.
  • BMI FCU is open to everyone who lives, works, worships or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware or Morrow County. Federally Insured by NCUA. BMI FCU may amend, suspend, or discontinue this offer at any time without notice.
  • Offer ends December 31, 2020.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

If you close your account within six months of opening you will forfeit the bonus.

Our Verdict

Last year they offered a bonus of $250 and it didn’t require the debit card transactions. This new deal is probably not worth doing due to the mixed datapoints of it being a hard pull. Feel free to share your referral information in the comments below, but for now we won’t be adding it to the best checking bonus page.

Hat tip to reader EW

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