Update 1/14/23: Deal is back, this time a $100 referral for both sides. Feel free to share your referrals in the comments below.
Update 9/11/22: Deal is back. Hat tip to alopez14
Offer at a glance
- Maximum bonus amount: $100
- Availability: Santa Clara County CA only
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
The Offer
- Commonwealth Central Credit Union is offering a $100 bonus to both sides when using a referral when you open a new checking account and complete the following requirements:
- Account also earns 2% APY on balances up to $20,000 when you meet the following requirements:
- Make 15+ transactions with your debit card and/or Visa credit card
- Have direct deposit or ACH deposit transactions totaling at least $300
- Receive eStatements
The Fine Print
- Membership in CommonWealth is required.
- Offer applies to new checking accounts only.
- Subject to $100 fee for closing checking account within 6 months.
- All new accounts will be verified by Chex Systems.
- Cash or non-cash gifts in excess of $10 are subject to IRS reporting on form 1099-INT.
- Offer is subject to cancellation without notice and cannot be combined with any other offer. Promotion code: SUMMER
- 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 as long as you opt out of paper statements.
Early Account Termination Fee
Wasn’t able to find a fee schedule so unsure is there an early account termination fee or not.
Our Verdict
Not the most attractive bonus as it’s a hard pull, but given there are no requirements this is worth doing for some people. The 1.5% APY rate isn’t that attractive given the requirements.
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