[TX, Educators] Extraco Banks $250 Checking Bonus

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Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Must be located in Bell, Bosque, Brazos, Coryell, Hamilton, McLennan, Williamson and must be an educator
  • Direct deposit required: Yes, $1,500+
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $6, avoidable
  • Early account termination fee: Bonus forfeit, 365 days
  • Household limit: None listed
  • Expiration date: May 18th, 2021

The Offer

Direct link to offer

  • Extraco Banks is offering a bonus of $250 to Educators that open a new checking account and complete the following requirements:
    • Set up Direct Deposit greater than or equal to $1,500 within statement cycle

The Fine Print

  • To qualify for the bonus, you must: be a new Extraco Banks Bonus Banking customer, not have closed a Bonus Banking account within the past 6 months at Extraco Banks, set up Direct Deposit greater than or equal to $1,500 within statement cycle. If the account is open for less than 365 days, a $250 closing fee will be charged to the account
  • Offer valid until May 18, 2021 for educators located in Bell, Bosque, Brazos, Coryell, Hamilton, McLennan, Williamson, and who are employed at K-12, college, or university campuses.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $6 monthly fee, this is waived if you do either of the following:

  • your average collected balance is greater than $4,999 OR you have 30 or more CREDIT (or signature-based) transactions per statement cycle OR you meet all three Service Fee Buy-Downs.

There is also a $5 paper fee, this can be avoided by opting in eStatements.

Early Account Termination Fee

Bonus is forfeit if the account is closed within 365 days of account opening.

Our Verdict

Nice deal but need to know if it’s a hard or soft pull to open. For now we won’t add it to the best bank account bonuses.

Hat tip to reader ShawntheShawn

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