Update 3/5/23: Deal is back and valid until March 31, 2023.
Update 8/16/19: Bonus is back. Hat tip to readers Nathan91hunt & J. S.
Update: Reposting because it’s a soft pull and can fund up to $10,000 with a credit card.
Offer at a glance
The Offer
- Royal Credit Union is offering a bonus of $200 when you open a new checking account and complete the following requirements:
- Receive a direct deposit of at least $200 within 60 days of account opening (two consecutive direct deposits must be confirmed and received)
The Fine Print
- Offer valid on new checking accounts opened August 15, 2019 through September 30, 2019.
- Membership and account opening upon qualification.
- New checking account must receive two (2) qualifying direct deposits of at least $200 each from a direct deposit paycheck, pension payment, Social Security payment, or governmental benefits payment electronically deposited into the account from an employer or outside agency.
- First deposit must occur within the first sixty (60) days from account opening.
- Account must remain open for six (6) months.
- Incentive will be deposited into the tax reported for account holder’s Primary Base Savings account upon qualification.
- Limit of one account per Member may be included in promotion.
- Member cannot have had a previously opened or closed checking account with RoyalCU in the last twelve (12) months.
- RoyalCU reserves the right to withhold or reclaim incentive if qualifications are not met based on RoyalCU’s sole discretion.
- Incentive is subject to federal and state tax requirements, which are the responsibility of the account holder.
- RoyalCU reserves the right to terminate this promotion at any time.
- Offer cannot be combined with any other RoyalCU checking account offer.
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 to avoid the bonus being clawed back.
Our Verdict
Seems like a fantastic account to open even before the $200 bonus due to the huge credit card funding allowed. Because of this I will be adding this to our list of the best checking account bonuses.
Useful posts regarding bank bonuses: