Deal has ended, view more bank account bonuses by clicking here.
Update 6/18/24: Extended until August 31, 2024
Offer at a glance
- Maximum bonus amount: $300
- Availability: Nationwide (with an $8 membership to the Financial Fitness Association); [ChurningExperiences notes that First Tech may automatically reimburse you for the $8 membership]
- Direct deposit required: Yes, $1,000+ per month for three months
- Additional requirements: See below
- Hard/soft pull: Soft in my experience and recent DPs (an older Hard DP exists)
- ChexSystems: Positive DPs, Some Sensitivity (but maybe not)
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: June 30, 2024
Contents
The Offer
- First Tech Federal Credit Union is offering a bonus $300 when you open a new checking account and complete the following requirements:
- Set up a new payroll direct deposit to your First Tech Rewards Checking of $1,000+ per month for a minimum of three months
The Fine Print
- Offer valid for enrollment between February 26, 2024 and June 30, 2024 for members without an existing direct deposit.
- Members with existing direct deposits or who are already enrolled in a First Tech direct deposit campaign are not eligible.
- Participant is defined as 18 years of age or older and the primary account owner on a First Tech Rewards Checking (FTRC) account.
- Direct deposits are considered new if there has been no direct deposit activity in the Participant’s share accounts on which they are the Primary Owner within the previous 18 months.
- New Direct Deposit Offer: New direct deposit must occur at least on New Direct Deposit Offer: New direct deposit must occur at least once per calendar month from the Participant’s employer payroll into the First Tech Rewards Checking (FTRC) account of which the Participant is the primary account owner. Direct deposits from a non-employer payroll source do not qualify. The monthly aggregate amount of all qualifying direct deposits must equal to at least $1,000 to earn the $300 bonus. Enrollment is the date of the initial direct deposit transaction. During the period of time commencing with Enrollment and ending 120 calendar days after Enrollment (“Enrollment Period”), at least one direct deposit transaction must occur each calendar month starting with the initial direct deposit transaction. A minimum of three direct deposit transactions must be received during the Enrollment Period. (EXAMPLE: If a member’s initial direct deposit is March 1, 2024, additional required direct deposits must occur at least once in each subsequent calendar month following the month in which the initial direct deposit is made, the last direct deposit must be received by June 29, 2024.) Only the Participant will receive credit for the direct deposits. Any qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following the Enrollment Period. Bonuses will be considered dividends and may be reported on IRS form 1099-INT.
- 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.
Early Account Termination Fee
No early account termination fee. They have a $5 inactivity fee after 6 months. Need to have transactions or more than $500 in deposits.
Our Verdict
Previously there was a $350 bonus, but this required $1,500 in spend in three categories to get $150 of the bonus. I think this flat $300 bonus is much better and worth doing and we will add this to our list of the best bank account bonuses.
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
First Tech $300 Personal Checking Bonus
Opened 08/24/2024 $15 Checking $10 Savings
Real DDs of $550 on 09/04, 09/18, 10/02,10/16,10/30,11/13
Email alert 11/15 “Congratulations you’ve earned an extra $300 with your new Direct deposit. Bonus will be deposited to savings account by next week.”
First Tech $300 Personal Checking Bonus
Did you withdraw the DDs after deposit or held them till the bonus posted?
8/8 Opened with $10 deposit
8/29 $1005 (Real DD)
9/26 $1000 (Real DD)
10/24 $1000 (Real DD)
11/1 $300 Bonus Posted in Membership Savings
Did not receive any DD confirmation or bonus congratulatory email prior to bonus posting.
Did you withdraw the DDs after deposit or held them till the bonus posted?
I withdrew the majority after each DD. No need to hold the full amount.
8/06 – Opened account with $10 deposit
8/22 – 1st $350 Real DD, recurring every week to the checking account
10/25 – $300 bonus posted to the membership savings
Paid out faster than I was expecting!
7/15 – Opened
7/24 – 500 Employer DD
8/7 – 500 Employer DD
8/21 – 500 Employer DD
9/4 – 500 Employer DD
9/18 – 500 Employer DD
10/2 – 500 Employer DD
10/4 – Email “Congratulations, you’ve earned a $300 bonus from First Tech!”
10/11 – Bonus deposited
I was a bit surprised, but I guess it goes by rolling 30 days, rather than calendar or statement months to determine whether you’ve met the requirements.
Did you withdraw the money after DD posted or let it be in the account until the bonus posted?
8/20 – Rewards Checking opened
8/27 – 1003.87 Wise Push
9/12 – 1003.87 Wise Push
10/7 – 1003.87 Wise Push
10/8 – Bonus confirmation e-mail received
10/11 – $300 Bonus posted in Membership Savings
P2
Opened: 8/11/24
$1k Chase Biz Push: 8/21
$1k Chase Biz Push: 9/6
$1k Chase Biz Push: 10/2
Bonus Posted: 10/11
Great DP. Did you get any email confirming your completion or bonus?
P1 did with real DD, P2 never got any emails.
thx for confirming! I’ll wait patiently till end of week as I never got any emails too. I used Chase Biz.
Met the requirements in august and didn’t get the bonus in September. Contacted CS and they noticed the DDs from ADP didn’t register in their system correctly. So they manually corrected it and in October I got the bonus!
It’s nice that you posted a positive interaction with CS that occurred. It’s almost always negative stories that I read on here.
Unsucessful DP:
6/25/24: Account Open
07/06/24: $100x WISE PUSH
08/10/24: $100x WISE PUSH
09/05/24: $100x WISE PUSH
10/02/24: $100x WISE PUSH
10/10/24: No email, no $300. Any tips?
No Idea, it looks like you did it correctly though. Did you ever get a bonus?
Opened August
Used Chase Business Checking to send $1001 DDs three months in a row.
Recieved email today to expect $300 bonus within the next week.
When was your last Chase Biz DD? And when was your payout? Thanks!