Offer at a glance
- Maximum bonus amount: $300
- Availability: Nationwide
- Direct deposit required: Yes, $7,000+ for the first seven calendar months
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: No
- Monthly fees: None
- Early account termination fee: Unsure
- Household limit: None
- Expiration date: December 31, 2023
The Offer
- Axos Bank is offering a $300 bonus when you open a new high yield checking account and complete the following requirements:
- Use promo code SUNNYBONUS
- have qualifying direct deposits that total at least $7,000.00 each calendar month during the first seven (7) calendar months your account is open
- maintain a minimum average daily balance of $15,000. The minimum balance must be achieved and maintained from September 2023 through March 2024
The Fine Print
- To be eligible to earn all or a portion of the cash incentive as part of the “SUNNYBONUS” $300 promotion, an Axos Bank Rewards Checking account that includes the promotional code “SUNNYBONUS” must be opened between August 1, 2023, at 12:00 am PST and December 31, 2023, at 11:59 pm PST.
- Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year, and customers who have held primary ownership of an Axos Bank or Axos Bank for Nationwide checking account at any time in the past 12 months may be disqualified from the “SUNNYBONUS” offer. Promotional terms and conditions are subject to change or removal without notice. Bonus cash may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After meeting the initial requirements mentioned above, the amount of cash bonus earned will depend on meeting the additional requirements outlined below:
- To earn up to a $300 bonus, you must be approved for your new Axos Bank Rewards Checking account, fund it within 30 days of account opening, and have qualifying direct deposits that total at least $7,000.00 each calendar month during the first seven (7) calendar months your account is open as well as maintain a minimum average daily balance of $15,000.
- The minimum balance must be achieved and maintained from September 2023 through March 2024. A cash bonus of up to $300 can be earned in the following manner during the first seven (7) statement cycles. A statement cycle is a calendar month consisting of the days your account was open during that month.
- A maximum of six (6) payouts of $50 for each calendar month that the Rewards Checking account is receiving the direct deposit and maintain a minimum average daily balance of $15,000 can be earned during the seven (7) statement cycles, and the bonus will be deposited into your Axos Bank Rewards Checking account within 10 business days following the end of the statement cycle in which the direct deposit requirement was met.
- Your Axos Bank Rewards Checking account must be open and in good standing at the time the bonus is paid to be eligible to receive the bonus, and your Axos Bank Rewards Checking account must remain open for 210 days, or an early closure fee of up to $300 may apply, equal to the amount of the total bonus earned up to $300.
- A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.
- A statement cycle is defined as a period of time that starts on the first day of the calendar month and ends on the last day of the calendar month.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
No monthly fee to worry about
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
Requirements for this are difficult to meet and much harder than the previous $300 bonus. You should be able to stack this with another $150 via Swagbucks, but some readers have reported issues with tracking in the past. Personally I’d recommend waiting for an easier bonus to return unless you can easily meet the direct deposit requirements for seven months. Because of that we won’t be adding it to the best bank bonus page.
Hat tip to Bockrr
Useful posts regarding bank bonuses: