Offer at a glance
The Offer
- SkyOne is offering bonuses of up to $700 when you use promo code GIFT:
- Get $100 when you open a Savings Account
- Must deposit $5+ at account opening
- Must maintain a $1,000 balance for three months
- Get $300 when you open an Advantage Checking Account and within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for six consecutive cycles
- Open our new Platinum Elite Visa® Signature Card and earn up to 30,000 bonus points (that’s $300!) (this is the standard bonus)
- Get $100 when you open a Savings Account
The Fine Print
- *$700 Bonus Offer valid from December 9, 2022, to December 31, 2022, is subject to change without notice and may end at any time. Exclusions may apply. SkyOne membership is required. To receive the entire $700 bonus, you must complete all of the following:
- Get $100: Open an account online from December 9, 2022, to December 31, 2022, use promo code GIFT and deposit the minimum opening balance amount of $5 into a Primary Savings Account, and maintain a $1000 balance for 3 months. This offer is intended for new members only. You are not eligible for this offer if you are a current owner of a SkyOne savings account or if you have closed an account within the last 12 months. Savings Rate is 0.05% APY. APY=Annual Percentage Yield. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. A $500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply.
- Get $200: Open a new SkyOne Advantage checking account online from December 9, 2022, to December 31, 2022, using promo code GIFT. within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for six consecutive cycles into your new checking account during the qualification period. A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account. Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify. Advantage Checking earns dividends of .05% APY if the balance requirement is met. APY=Annual Percentage Yield. Rates are effective as of the last dividend and declaration date. The rate is variable and may change after the account is opened. A $2,500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply. This offer is intended for new checking accounts only. Offer is not available to existing SkyOne checking account holders or those whose accounts have been closed within the last 12 months.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The advantage checking account has a $5 monthly fee that is waived if any of the following requirements are met:
- Be 25 years of age or under
- Be 65 years of age or over
- Have an active Visa® credit card, or line of credit, including HELOC (activity is defined as carrying a balance or making purchases each month that total $100 or more)
- Have a current consumer loan, including mortgage
- Have a minimum average daily share balance of $2,500 across all primary account holder’s accounts
- Make monthly aggregate deposits of $1,000 or more in SkyOne Advantage Checking Account
- Make a minimum of 10 debit card POS (point-of-sale) transactions
Early Account Termination Fee
There are no early termination fees to worry about
Our Verdict
Fine print says the checking bonus is $200, but main terms say $300. It doesn’t add up to $700 total without it being $300, so I suspect the fine print is wrong but wanted to call it out anyway. This is the biggest checking bonus we have seen, but it requires a direct deposit for six months making it a deal breaker for some readers. We have seen a bigger savings bonus in the past but that required a deposit of $25,000. We will add both of these to the best checking & savings bonus pages.
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