Offer at a glance
- Maximum bonus amount: $400
- Availability: MN only, might be nationwide with joining an association. More details here
- Direct deposit required: Yes, $500+
- Additional requirements: Six debit card transactions
- Hard/soft pull: Hard pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Yes, can fund up to $500
- Monthly fees: None
- Early account termination fee: Six months, bonus forfeit
- Household limit: None
- Expiration date: 7/31/23
The Offer
- Hiway Credit Union is offering a $400 checking bonus, bonus is broken down as follows:
- $200
- Set up a direct deposit ($500 minimum) to your checking account
- Make a total of 6 debit card purchases
- Register for Online/Mobile Banking with eDocuments
- Up to $100. $25 per month for active direct deposit
- Up to $100 $25 per month for 15 debit card purchases
- $200
The Fine Print
- Checking Offer valid 4/17/23 – 7/31/23 to persons with no prior checking relationship with Hiway in the last six months. Offer valid on Free Checking, Hi Yield Checking, Minnesota Wild Checking and Benefits Plus Checking. To qualify for $200 Checking Offer, account holder must (1) set up a Direct Deposit ($500 minimum) to your checking account and (2) make a total of 6 debit card purchases and (3) register for online/mobile banking with eDocuments within 30 calendar days from the date the account was opened. After the account has been open for 45 days, allow up to an additional 7 business days for $200 to be deposited to your Checking Account. Account must remain open for six months. If all requirements of the offer are not met, Hiway reserves the right to reclaim the $200.
- Once your checking is opened earn more with these BONUS OFFERS:
- 1. Direct Deposit: earn an extra $25 per month for active direct deposit ($500 minimum), up to $100.
2. - Debit Card Usage: earn an extra $25 per month for 15 debit card purchases, up to $100.
- 3. Certificate of Deposit: earn an additional $100 when you open a new Hiway Certificate, between 4/17/23 and 7/31/23 with a minimum deposit of $7,500 for terms of 12 months or longer. After the account has been open for 45 days, allow up to an additional 7 business days for the $100 to be deposited to your checking account.
- 1. Direct Deposit: earn an extra $25 per month for active direct deposit ($500 minimum), up to $100.
- Direct Deposit and Debit Card usage will be tracked for the 4 months following your account opening. Ex: if opened on April 18, the tracking period will be May – August. At the end of the tracking period, allow 14 days for the funds to be deposited to your checking account.
- 1099 MISC may apply if rewards/income paid in one calendar year exceed $600.
- 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 no monthly fees to worry about
Early Account Termination Fee
Account must be kept open for six months otherwise the bonus may be forfeit.
Our Verdict
There is also a $100 bonus for setting up a certificate of deposit for 12+ months with $7,500+, this isn’t worth doing as the APY is only 2.2% APY. Much better than the $250 bonus previously offered. It’s ChexSystems sensitive unfortunately.
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