[Expired] Elements Financial Credit Union $400 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

The Offer

Direct link to offer

  • Elements Financial Credit Union is offering a $400 bonus when you open a new checking account and complete the following requirements:
    • Use promo code  CHECK400
    • Receive a recurring direct deposit of $500+ within 60 days of account opening

The Fine Print

  • Basic Checking $400 Cash Bonus Offer — Requires a recurring minimum direct deposit of $500 or more to post to the account monthly within 60 days of account opening. Example: If account is opened on January 25, 2024, a minimum direct deposit of $500 or more must post at least 2 times prior to March 25, 2024.
  • Direct deposit is defined here as an electronic deposit of your paycheck from your employer, retirement/pension benefits, or government benefits (such as social security). Person to Person (P2P) payments such as Zelle© and transfers from external accounts are not considered direct deposits.
  • Cash bonus will be fulfilled as a one time, $400 taxable bonus dividend deposit into your Basic Checking account.
  • If the Basic Checking account is closed within six months, we reserve the right to deduct the cash bonus from your account. Health Savings Account and existing Elements checking accountholders not eligible.
  • Offer subject to membership approval.
  • Additional terms and conditions may apply. Elements reserves the right to amend or discontinue offers at any time.
  • Please allow 4-6 weeks after qualifications are met for receipt of cash bonus.
  • Product offers cannot be combined with other promotional offers for the same product.
  • One offer per household. Fees may reduce earnings.
  • Offer not available to existing Elements checking account members, or those members who have had a checking account closed within the last two years. Members who have received a previous checking account bonus are not eligible.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Basic Checking has no monthly Maintenance Service Charge if you set up direct deposit or maintain a balance of $10,000 or higher (including savings, checking, and loans). There is also no monthly Maintenance Service Charge if you are age 50 or older or under age 25. If none of those conditions apply to you, there is a $5 monthly Maintenance Service Charge

Early Account Termination Fee

Bonus forfeit if closed within 6 months of account opening

Our Verdict

Looks to be a good bonus, previously best was $200 from Elements Financial. We will add this to our best checking bonuses.

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    William Charles
  • On January 29, 2024, 13:00
Tags: credit card fundingdirect deposit requirednationwide bank bonusessoft pull

View Comments (1014)

  • I received this bonus and I'm pretty sure that Wise triggered it, but I guess it could have been Cash App, too. No paystubs were requested as no customer service intervention was required me to receive the bonus. I took a chance and applied after the landing page was taken down. My app was instantly approved with the promo code, and I received the bonus in full.

    P2 and P3 had their applications go pending, so the credit union denied them because they said that the promo code was invalid at that point, which was understandable. I have never had an account with Elements before, and they did, so I'm thinking that's why their applications were not instantly approved. Because we are all in the same household, they might not have received the bonus anyway.

    2/8/24 - Applied online with promo code, approved instantly
    3/7/24 - $9.75 instant deposit from Cash App (this was just to initially fund my account and keep it from closing since it was almost 30 days since approval)
    3/11/24 - $500 and $505 DD's from Cash App posted
    3/18/24 - $975 withdrawal to Fidelity
    3/21/24 - $500 and $500.01 DD's from Wise posted with "Payroll" in the memo/reference field
    4/2/24 - $400 bonus posted as "dividend adjustment"
    8/27/24 - $975 withdrawal to DCU
    10/1/24 - Remaining account balance withdrawn to Bask Bank

    All of my fake DD's posted as "credit" and "external deposit" on the credit union's end. I received a letter in the mail recently that my zero balance checking account (not the savings) would be auto closed on 2/15. I was able to keep my account fee free this entire time because I am over 50 years old. I will close my accounts (full membership) soon so that I can hopefully try to churn one of their bonuses again in 2 years if the terms allow.

  • this bank was quite strict and did NOT accept wise as DD unfortunately, even after emailing pay stubs.

  • Interesting DP

    Opened Feb 1 2024
    During the 60 days sent couple of DDs via Wise
    After the 60 days I didn't receive bonus. saw somewhere that somebody got validated without showing paystubs. so I sent a SM inquiring the bonus and was told that "they dont see me on the pay report and to send paystub" i responded with the "dont have any at this time" and they responded with "We cannot validate DDs" so I took the L and closed my account on July 8. A week later I received my $5 membership back.

    Aug 19: just got an envelope via snail mail with their logo and as I was about to toss it out bc I thought it was trash i opened and I see is a $400 cashier's check with the memo "check 400 closure" lmao well that was a close one.

    • @guest_1820534 I technically opened the account after the promotion was pulled from their site (used promo code). Had several real DDs. Other folks who opened after the promotion was pulled received the bonus. After waiting several weeks, I ended up emailing them and they said I wasn't eligible.

      After doing some spring cleaning I saw your DP and saw my bonus actually posted on 8/15. I encourage others to look through their account and they might see a surprise bonus posted.

  • FYI I was able to close out my account today via a simple SM after emptying account, $5 check will be in the mail. Opened account 1/30, so I'm past 6 month clawback.

    Pleasure doing business with you, thank you!

    • Just in case: Is $5 the refund for your membership, if you have emptied your accounts? I thought it was non-refundable...

      • It's not uncommon for them to say it's non-refundable and then send you a check for it when you close the account.

  • This is such an odd bank. I actually had real DDs and they hadn't credited. Messaged them, sent proof of stubs and they still denied it saying they couldn't "verify" it. opened a NCUA complaint over a month ago and still havent heard back

    • Any updates? They aren’t giving me the bonus since I had real direct deposits totaling $500/month, instead of a $500 direct deposit per month

      • I received an email from the bank "Chief Auditor" saying there was some discrepancy on how my overtime hours were calculated on the paystub so they rejected my paystub. This bank is unbelievable. NCUA now says they received records of our correspondence and it can take up another 90 days to come to a resolution reb mendel

  • I opened my account on January 30th. I can close now right? Can’t find link to original terms.

  • Maintenance fee auto refunded itself when it took my account negative because of it.

  • Fidelity works for the direct deposit requirement to waive the monthly fee.

    • Thank you for the DP. This is the first month I try fake DD to waive monthly fee. Mine is showing "Category: Investments" and "Statement Description: External Deposit FID BKG SVC LLC - MONEYLINE". Are you the same?

      • Sorry for my late reply. I came back to this post today and just saw your message. Yes, that is how it was shown in my account. @guest_1875113

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