Offer at a glance
- Maximum bonus amount: $250
- Availability: Seems like anybody can join via American Consumer Council (ACC)
- Direct deposit required: Yes, $5,000+ per month for three consecutive months
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: Up to $1,000
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: None listed
Contents [hide]
The Offer
- Farmers Insurance Federal Credit Union (FIGFCU) is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Use promo code NMHYC
- $250 bonus when you open a High Yield Checking account and make direct deposits of $5,000 or more a month for three consecutive months.
- $100 bonus when you open a High Yield Checking account and make direct deposits of $1,000 to $4,999 a month for three consecutive months.
The Fine Print
- 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 to worry about. There is a $5 monthly inactivity fee
Early Account Termination Fee
There is no EATF according to the fee schedule.
Our Verdict
This is significantly better than the $100 referral bonus we have previously posted about.
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
Farmers paid me $100.00, citing the fact that the first month my account was opened (which was in the middle of the month) did not have the required $5,000.00 in DDs. First DD was a bit over $2,500.00, which posted in the last week of the account opening month. I had over $5,000.00 in DD’s for the three months thereafter. Chat refused to credit the remaining $150.00 like they did for other posters here, so I submitted an NCUA complaint, which was successful. Additional $150.00 received.
Probably one of the most unpleasant bank customer service I have dealt with, but eh, I profited $250.00 from them, even if I had to pull teeth.
Looks like CC funding (for additional accounts) is dead.
limit has dropped to $500 from $1000
Does PayPal or Venmo work for 5%?
Has anyone had an issue with the bonus payout when the $50 referral was previously paid? Both P1 and P2 got $50 since P1 referred P2. When reaching out to chat they initially indicated that you could not receive both the referral and the $250 promotion. Provided screenshot showing only the promotion code on the app and they reached out to manager who then said they would submit a ticket to the back office to have the difference between the two promotions of $200 credited to the account. Just seemed strange they took that stance when the application only have the $250 promotion code applied. P1 is still waiting for the $250 to post as that representative said they would submit a ticket without any reference to the $50 referral being the reason.
Update: P1 and P2 received remaining $200 of $250 bonuses 3/25/25 after inquiring through online chat. They did not provide anything extra for P1 referring P2.
I tried to link FIGFCU account to Fidelity, it did not show up in the search box, so I entered the routing and account number instead. However the next screen still asked me to login to FIGFCU instead of giving me the option to link through trial deposits. Any workaround? Thanks!
This seems to be an issue being talked about a lot lately on multiple DoC posts. See my reply to
Looney where I mentioned a couple of possible solutions here: #2019631 .
Thank you! I’ll use the sending the form through secure message to link the account as outlined in your discussion.
Hopefully
William Charles and/ or 
Chuck updates the post concerning the delay times being experience at Fidelity to include not being able to link external accounts like I and others have been experiencing. I’d like to see how pervasive it really is.
I just found my February interest was only $0.77 instead of ~$20 like the previous month. The same balance of ~$5000 and I did the same 10 debit card transactions like the previous month.
Did this happen to anyone else?
Did you make an ACH deposit of $1000 or more this month? You need to do the 10 debits and a deposit, plus be enrolled in Estatements for the monthly requirements. Check your debits, maybe one of your debits didn’t clear by the end of the cycle.
Good catch! Thank you! I totally missed that $1000/mo dd requirement. I re-directed my dd elsewhere after meeting the new account bonus requirement. I will look up comments for an alternative way for dd for the coming months (maybe C of I or Fidelity would work?), or just move the money out.
I’ve been using Fidelity.
Great! Thank you so much! I’ll do a push from Fidelity this month then!
Cash app works for 5%. Is there a minimum amount for each debit transaction?
Approved from Central FL. Can’t be Chex sensitive. I had 9 inquiries in the last 30 days.
Wow, that must be a record! I guess that it’s possible that
Bedu or 
Bank Bonus Bodhisattva might have something to say about that.
Anyway, care to mention all of the 9 FIs and each result? I just want to make sure that I didn’t miss any good options!
Farmers approved
Credit Human pending
Rev approved
Christian Community Credit Union approved
BMO approved
Truist Approved
Chartway declined
Pennsylvania State Employees Credit Union declined
Flagstar declined (this is outside of 30 days, actually about 50 days)
Valley National approved
I’m hoping nothing great comes along in the next week or two. I might be pushing it :).
#1. I am aware of all of them so you guessed right.
#2. I have previously done a bonus for Farmers, PSECU & Flagstar and those accounts are all still open.
#3. I am not eligible for BMO or Truist yet but I am looking forward to churning them again in the future!
#4. I decided against applying for CH, CCCU and Chartway. That may or may not be because they all start with the letter “C”.
#5. I am still working on the $240 Valley bonus. Unfortunately, I signed up shortly before the much better $400 offer came out.
#6. How were you possibly approved for Valley with your high Chex stats? A lot of people will surely be jealous of you!
#7. I plan to apply for Rev if they bring back the bonus. I hope that they aren’t Chex-sensitive!
#8. Did you keep your Rev accounts open or did you close them like some others did?
When I applied for farmers last Sept, I was 13 inquiries in one month. Farmers is definitely not Chex sensitive lol
I knew that adding that caveat to my comment would be a good idea.
At the time, I had a lower credit score from floating 0% APY CC offers. Your DP strengthens my theory that I was declined due to my credit score.
11/15: Account Opened
11/27: $5005 Novo Push
12/31: $5005 Novo Push
1/23: $5005 Novo Push
2/25: $250 Posted in Membership Account.
They’re also great for opening additional accounts for CC funding. I’ve opened 2 so far with no questions asked and might open a few more.
Yes, they do pull Chex. Not at all sensitive, though. I’m LOL.
I’ve just opened more free checking accounts. Even though you would be applying as a existing customer, they would ask for ID and pull Chex. No other questions in my experience atleast.
Good to know, thank you.
DP for the high yield checking promo –
I chose to only go for the $100 offer
11/15 – opened with $950 CC funding (NFCU treated as purchase but no reward points)
11/18 – $1000 ACH in from Primis Bank
12/18 – $700 ACH in from Fidelity Brokerage
12/18 – payroll DD – $337
1/3 – payroll DD – 451
1/17 – payroll DD – 326
1/31 – payroll DD – 224 (now $1001 total for the month)
Three months of $1000+ now satisfied
2/25 – $100 bonus deposited into my main Share account.
The deal still appears to be active.