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S
S (@guest_1952174)
November 15, 2024 13:01

there’s a new targeted checking offer (valid for new penfed checking account holders who received the offer directly from penfed), up to $150 bonus when you open between 11/15/24-12/16/24 and fund min $5k (for $75 bonus) or $10k (for $150 bonus) no later than 12/16/24 and hold through 4/15/25. works out to about 4.56% apy for the required hold period https://www.penfed.org/bonus150
does penfed typically allow churning on checking (“new” if not currently an account holder and/or haven’t had a checking account with them for a certain amount of time) or are their offers usually restricted to once-per-member/lifetime?

Eric 🔗
Eric 🔗 (@guest_1952624)
November 15, 2024 20:39
  S

I received this targeted offer also for my current account. I have also been targeted previously for a DD bonus on the same account. I don’t plan to ever close any of my PF accounts due to how fair they are with existing customers.

HarryTheFirstHarry
HarryTheFirstHarry (@guest_1958614)
November 25, 2024 10:00

I agree that they are fair; however if churning is possible, would it not be better to close all but the primary savings and wait for new offers to come back?

Eric 🔗
Eric 🔗 (@guest_1959363)
November 26, 2024 12:13

You left out part of my reply. I wrote about “how fair they are with existing customers“. My point was that they offer me deals on all of my current accounts (except for the “Share” Savings) so why would I want to close any of them?

Carlzjr
Carlzjr (@guest_1903866)
September 2, 2024 13:48

Met all requirements with real DD… the bonus should have landed 8/15 as specified in the terms. Opened through the “bundle1” link. Wondering how they would know if I was targeted or not?

If the targeting is what is holding this up, anyone had any luck arguing that you saw the bonus offer through a FB link or google search?

Erin
Erin (@guest_1904560)
September 3, 2024 16:16

I was targeted and I used several DD methods including working by Gadget’s DP Fidelity. I’m still waiting.

Carlzjr
Carlzjr (@guest_1904606)
September 3, 2024 17:42

Well good to know it does not seem like targeting is holding it up… guess they are just slow. Keep us posted please, will do the same.

MOTDOC
MOTDOC (@guest_1906661)
September 6, 2024 18:46

They’ve denied P2 and me so far by saying that we weren’t on their email lists. I’ve tried to argue that only the extra $100 offer actually required being targeted, but so far no luck

Gadget 🕵️‍♂️ Bank Bonus Geek 🔗
August 18, 2024 17:13

DP: Fidelity CMA works as a DD.

My P2 received a targeted email for existing customer $75 DD bonus. Required two months of $500+ DD.

Set up direct deposit on your PenFed Checking account ending in xxxx. Once we receive 2 consecutive months of qualifying direct deposits of $500 or more no later than Aug 3, 2024, you will receive a $75 cash bonus1 to your account.”

06/27/2024 FID BKG SVC LLC MONEYLINE $502.00 (Fido CMA)
07/10/2024 FID BKG SVC LLC MONEYLINE $502.22 (Fido CMA)
08/16/2024 PROMOTIONAL BONUS $75.00

Per terms: “Qualifying direct deposits are defined as deposits from an enrolled member’s employer, payroll or benefit provider via ACH deposit. Deposits that are not from an employer (such as check deposits, P2P transfers such as from PayPal® or Venmo®, etc., merchant transactions such as from PayPal®, Stripe®, Square®, etc. and bank ACH transfers not from employers) do not qualify for this promotion.”

MOTDOC
MOTDOC (@guest_1896165)
August 20, 2024 11:42

Amazing that they’ve been so quick on that bonus but still haven’t paid out the $250 one that ended in June

crowderdd52
crowderdd52 (@guest_1902981)
August 31, 2024 13:25

Amen. I got the offer in April (via popup in my Penfed app). Approved 04/21. Xferred $1,500 from Ally on 05/04 and again on 06/04. Offer ended on 06/30 and now 2 mos later still no bonus. I’m guessing Ally doesn’t work as a DP. I’ll give it another week and see. Wished I had known when I funded my account that Fidelity worked.

chicken_po_boy
chicken_po_boy (@guest_1891002)
August 10, 2024 11:02

It’s 8/10 and ‘m still waiting. I was not targeted but called back in January to ask if the promo was available to everyone or just those who received a mailer or email offer. Mass confusion ensued as no one there seemed to know the real answer. Got bounced around to several people and none of them were sure. Finally reached someone who said it was a definite NO. She said if I didn’t receive a mailer or email offer then I was NOT eligible. I asked if PenFed could send me an email with the offer. Got bounced to a banker. The banker said the CSR I spoke to was wrong. He was 1000% SURE it was NOT necessary to have received a mailer or email offer. He was VERY confident the offer was open to everyone who opened an account in the required timeframe; he said they just don’t advertise it that way. He assured me repeatedly there was nothing to worry about. So I opened the account based on his advice. After completing all the requirements, I emailed the banker in early July. He responded saying I did meet all the requirements and I would definitely be receiving the $500 bonus by 8/15. He said he contacted the department that handles the bonuses and they confirmed. I guess I’ll know shortly…

GK
GK (@guest_1893357)
August 15, 2024 11:33

Nothing yet for me.

arihalli
arihalli (@guest_1896945)
August 21, 2024 15:55

Nothing yet for me as well. Icalled 8/15 and they said the bonuswouldarrive in several days, still waiting

arihalli
arihalli (@guest_1903146)
August 31, 2024 19:42

They finally answered and i got no bonus. One has to be targetedthey stated. Eight months later and after 3 phone calls from CR’s saying i would get the bonus. Not recommending this bank.

chicken_po_boy
chicken_po_boy (@guest_1924532)
October 3, 2024 13:32

UPDATE:

Banker came back and sheepishly said the promo dept told him I wasn’t eligible (after him telling me all along that I was eligible). He went to bat for me though, he pushed back on the promo dept and eventually got them to pay the $150 savings bonus. The promo dept still would not pay the $250 checking bonus, or the $100 extra bonus for doing both the checking and savings account deals together. This was because I met the $1500 threshold with (8) smaller direct deposits instead of (2) larger ones. To be fair this was my mistake, but it wasn’t explained to me that way, so I pushed back and had my ticket escalated to a case manager. It took a few more weeks but the case manager also went to bat for me. He finally got the promo dept to make an exception, and I got the add’l $350.

tldr; I ended up getting the full $500 bonus despite not being targeted. But my situation was probably unusual and they paid me by making a couple exceptions. And it took a lot of phone calls. Massive headache but eventually paid off.

GK
GK (@guest_1885304)
July 31, 2024 13:07

Anybody receive the bonus that did not get the mailer?

vc
vc (@guest_1879640)
July 22, 2024 14:06

Finally paid out today. I only did the dd bonus. For those of you scared to close the acct, just zero it out. IIRC, I left my sav acct at zero and they closed it.

HarryTheFirstHarry
HarryTheFirstHarry (@guest_1879682)
July 22, 2024 15:06
  vc

Can you please post timeline…thanks in advance.
Never mind, my P2s posted today as well. Here is the time line:
P2 exsting savings only cusotmer from longtime with no activity for several years. Received postal AND email offer in late Dec or early Jan.
Opened 2nd week of Jan.
2 DDs spaced days apart to checking in 1st week of Feb. 10K deposit to savings also completed same week.
Withdrew the 10K leaving $1 week after the 15 June deadline.
Bonus posted today 7/22.

Matt
Matt (@guest_1880431)
July 23, 2024 13:53

Mine posted as well to Checking. Woohoo!

Meg
Meg (@guest_1880329)
July 23, 2024 12:38
  vc

did you get checking and savings? Only savings bonus is showing for me. Though I definitely met $1500 and did Real DD.

vc
vc (@guest_1880905)
July 23, 2024 21:19

I signed up for both accts but didn’t go through w the sav bonus. So, I just got the ck acct bonus. I did 2 real DD months apart.

Carlzjr
Carlzjr (@guest_1904609)
September 3, 2024 17:44
  vc

vc were you targeted for the bonus?

vc
vc (@guest_1904616)
September 3, 2024 17:59

Yes, I got a letter in the mail and an email.

Matt
Matt (@guest_1876953)
July 18, 2024 10:35

Nothing here either. Targeted postcard. Haven’t touched the 10k and made four $751 deposits in the first two months. I guess they’re taking this all the way to Aug 15th

guevara1987
guevara1987 (@guest_1864178)
June 24, 2024 17:18

no options for credit card funding anymore.

HarryTheFirstHarry
HarryTheFirstHarry (@guest_1861285)
June 18, 2024 15:00

P2 was targeted both postal and email. Met all requirements. Past 15th June now and no bonus yet. Pulling out most. Will wait for the 60 days (15 Aug) to roll up the sleeves.

TheJohnWickening
TheJohnWickening (@guest_1853422)
June 1, 2024 08:57

Bonus is now $850 with the link above. Terms changed. Savings bonus is now $100 per $10k deposited, up to $500 bonus. Checking is still $250 for 2 direct deposits of $1500+. $100 bonus for completing both  William Charles