Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Selected counties in FL
- Direct deposit required: Yes, $250+
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5
- Early account termination fee: $10, six months
- Household limit: None
- Expiration date:
May 31, 2021 July 31, 2021. Valid until 9/30/2110/30/21
Contents
The Offer
- We Florida Financial is offering a bonus of up to $250 when you open a new checking account and complete the following requirements:
- Minimum of at least $250 direct deposited into the account each month.
- Enroll in e-statements.
- Make ten or more Visa Debit card pin-less transactions of at least $5 each every month.
The Fine Print
- The $250 bonus will be paid the 1st day of the month following the 90th day the account was opened and has the required direct deposit and is enrolled in e-statements.
- Only one bonus offer per membership.
- The bonus may be reported to the IRS as income.
- Bonus offer may be withdrawn or changed at any time.
- Valid for new checking accounts opened between 04/01/21 and 05/01/21.
- 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 a $5 monthly fee. This is waived if you meet the bonus requirements listed above.
Early Account Termination Fee
According to the fee schedule there is a $10 fee if closed within six months of account opening.
Our Verdict
Meeting the requirements also means you earn 3% APY on balances up to $10,000. That’s actually an OK rate and nice maximum amount at the moment. Unfortunately it’s a hard pull, but still worth doing for people that don’t care about those. Will add to the best bank bonuses.
Hat tip to reader GLI
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
$250 promo credited for P1 on July 1st just as per the terms. (Employer DD credited each month)
P2 should also credit August 1st.
P2 credited August 1st. They kept their end of the terms perfectly.. Smooth process.
A hard pull and all these debit card transactions. This one doesn’t seem worth it for the money.
They are really narrow on what counts as a debit – maybe – the amazon ‘process’ as credit card transaction counted…. grocery stores and gas stations of varying types did not count as a debit for monthly or bonus requirements in April…. Not really sure what counts as a pin-less debit for them.
Any recommendations on pin-less transaction options – my go to’s of grocery stores and gas stations and amazon seem to have failed… (online payments to cell phone and internet bills could be an option).
Bonuser I only did Amazon reloads and met the requirements for April. I did not change the default settings of the debit card on Amazon payment settings.
Thank you very much christopher robin
I will try that for May. Hopefully I did not disqualify myself from the bonuses.
That worked for May…. amazon GC reloads $5+ on default… as well as online payments to utilities…
No credit for April despite meeting all monthly reqs. Pinless debits might be the issue. Never entered a pin and chose credit when I could.
Not amused. Hopefully still works for bonus.
Bonuser sorry to hear. I applied last week and still waiting to hear back. How long did it take to open your account ?
It was maybe 2-3 business days – I would call them up and see what they need from you.
Definitely really picky as to what counts as pinless debits. Going to have to work on that to make sure I meet the bonus reqs.
Does anyone know if the monthly fees is waived for the first month? Or are we supposed to do a DD of 250$and 10 debit card transactions in the first month itself?
CS mentioned in passing (when calling them about online access being the savings account #) that they give you through that 90th day to meet the requirements or something like that – it was vague but they do not expect you to be able to meet reqs in the first month for the bonus it seems.
But I presume no 3% interest if you do not meet reqs the first month.
I am going to meet the Reqs in the first month and every month until the bonus posts to be on the safe side.
Thanks for the info.
FWIW – the DD needs to be legit per CS for the monthly 3% interest. Not just ach (lmcu and evansville are okay with ach’s monthly)
So i suspect the bonus is the same way. But a monthly $250 DD is pretty painless if your circumstances allow.
good god dude never call the bank and ask. it’s rule #1 of bank bonuses
Abby – not a novice here. I spoke with CS about setting up online bank access (for the account number – the savings account number is used instead of the checking for online bank setup).
However for the DD setup and monthly requirements (bonus and interest) the DD needs to go to the checking.
I was speaking with the CS about that issue and asked if ACH/bank transfers meet the monthly requirement for 2.96% interest. Each bank is a little different. And they confirmed has to be employer DD.
This is a little different than a normal bonus – as I intend to use the 2.96% monthly.
Take Care.
Well, it strictly says direct deposit on paper, so a CSR will say the same thing. However, what is considered or coded as DD by the system can be different and more inclusive, hence the value of all the DPs for fake DDs. I do not think this credit union is going to manually examine DDs for each account every month to determine eligibility for earning the 3% APY. Therefore, fake DDs (i.e., ACH in) may still work, or it may not work. Needs DPs for it. Gli
True – accurate points ShawntheShawn. And that holds true 90% of the time.
I will say that some of the rewards checking accounts actually do comb through DD’s and debits for eligibility each month – One American Bank does that – as does Heritage Bank NA… Great Lakes Credit Union does that… so YMMV depending on the rewards checking account monthly review process.
Besides, strictly based on this comment alone Gli neither states nor implies that they did call them. Not sure how you can justifiably reply as though they did.
Thank you Taylor – My point was that in order to meet the 3% monthly interest requirements – they want a ‘real’ employer DD. I therefore suspect that since the $250 bonus is tied to those same monthly requirements being met, that is the same case there for the bonus to be met.
Rewards checking accounts are different than normal checking accounts (each one is unique in their requirements, See LMCU, see Evansville TFCU etc..)
But if Abby and others get their jollies over assuming idiocy by my free datapoint sharing – so be it. It was intended to be helpful.
This used to be a bit more of a friendly/helpful website/comment section… as DOC has grown – a whole lot of selfishness leaks over from churning/reddit etc… and ridiculing/mocking has increased.
Hard pull occurred for p1 and p2. Opened one per member of my household.
Also have to sign up for online e statements.
Gli which credit bureau did they pull ?
Equifax hard pull.
And I had 6 hard pulls on my record and a chex report that has many entries.
Lots of groups you can be/become a member of to become a member of this credit union, including a Humane Society of Broward County.
Nevermind that one has “live work Broward County” in it. I emailed We Florida if donating to the Broward Partnership for the Homeless would work.
“Unfortunately, you have to be a Florida resident to establish membership with We Florida Financial Credit Union.”
Davis did you end up finding a way to sign up OOS?
No
William Charles Verified via Twitter it’s a hard pull
Here is one DP confirming hard pull: https://www.doctorofcredit.com/best-bank-account-bonuses/#comment-1168909
Does Amazon gift card qualify as “Pin-less Debit”?
Jarrod Yes