First Tech Federal Credit Union $300 Checking Bonus

Update 2/16/25: Deal is back

Update 12/28/24: Deal is back but requires a $5,000 direct deposit now.

Update 6/18/24: Extended until August 31, 2024

Offer at a glance

The Offer

Direct link to 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 $5,000+ 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:
    William Charles
  • On February 16, 2025, 20:45
Tags: direct deposit requirednationwide bank bonusesno credit card fundingsoft pull

View Comments (1484)

  • Did anyone notice that for the $300 bonus the direct deposit amount needs to be GREATER than $5000 a month? I know the post says $5000+ but I just assumed $5000 would be enough. Hoping others don't make the same mistake.

    Per the terms:

    Qualified direct deposits of $1,000 to $5,000 per month must be received for a one-time $50 bonus; qualified direct deposits greater than $5,000 per month must be received for a one-time $300 bonus.

    • I never do round numbers. Always $xxxx.yy, add a few cents to avoid hassle of some poor programmer didn't implement greater than operator properly.

    • It's right at the top of the page, update from 2024:

      Update 12/28/24: Deal is back but requires a $5,000 direct deposit now.

  • Did anyone get a request for a copy of their drivers license and social security card following the application process? The 1-2 datapoints from last year doesn't look too good.

  • I also got a savings promo email today

    First Tech Rewards Savings® account pairs perfectly with your Rewards Checking account to give you unlimited earning potential. Watch your savings grow with 3.00% APY*on Rewards Savings accounts.
    You qualify for an exclusive new account offer1:

    Get a one time bonus2 of up to $300 for moving money into your First Tech Rewards Savings® account:

    Deposit & Maintain Bonus Amount
    $10,000-$20,000 $150
    $20,000+ $300

      • I need to skip this as Rewards rate requires 1000$ debit card spend apart from DD and electronic statement. Else it would be 0.015. The $300 on 20k works out to 6%. Raisin is offering $250+apy on $25k (~4%)

        • Ahh, interesting.

          I actually have a Raisin account from a few years ago. I think the bank that I have "within" the Raisin account is Western Alliance but have had no funds there for a year or two.

          I'm a little confused about Raisin's bonus - do you have to be a *new* "Raisin" customer entirely? Or do you just need a *new* bank account option within Raisin even if you're an existing customer?

          • New Raisin customer entirely, unfortunately. Usually a good idea to ask questions on the actual DoC page, and that way people on the non-related page don't get confused, and it might help someone else with the same question if it's not already answered. @guest_2013764

    • 2A minimum of $10,000 and up to $20,000 must be deposited to qualify for a $150 bonus. Depositing any amount over $20,000 will qualify for a $300 bonus. Eligible only for funds not currently or previously held in a First Tech Federal Credit Union account at the time of this offer. Funds must be deposited from a source outside First Tech; transfers between First Tech accounts or its affiliates will not qualify for this promotion. Funds must be deposited into a First Tech Rewards Checking or First Tech Rewards Savings account on which the Participant is the primary account owner no later than 30 days after Enrollment to be considered for the corresponding tier bonus. Starting 31 days after Enrollment, the average daily balance through the following 90 calendar days must meet or exceed the tier minimum for the corresponding tier bonus (“Qualification Period”). For example, if a member enrolls on January 2, 2025, funds must be deposited by February 1, 2025. The average daily balance must be maintained through May 2, 2025. The qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following the end of the calendar month in which the Qualification Period ends. Bonuses will be considered dividends may be reported on the appropriate IRS form 1099.

  • Application denied "in whole or in part on information obtained from the consumer reporting agency (Experian Consumer Assistance)", I unfreezed Experian credit report before applied but still "We are unable to validate the information provided"

  • I managed to get my account open and funds pushed in (Wise) and posted literally on 2/28. I pushed another $5k already this month.

    I should just have to do another push in April to qualify and then it seems my bonus should post by 5/7 (caveat assuming Wise hasn't been shut down) - correct?

    • Just to be clear:

      1) Was the transfer from Wise made from your Wise balance or from your connected bank account (ACH)?

      2) What was the amount of the transfer?

      3) What was the fee you paid for the transfer?

      4) What was the description of the transaction in your FTRC account?

      • Sorry I'm late but somehow missed your message originally:

        1) From Wise balance (after transferring from connected bank to Wise balance).

        2) $5,1xx and some change

        3) $8.71 for the transfer from Wells savings to Wise balance, then $1.13 for the push from Wise to First Tech

        4) "ACH Deposit WISE US INC *bunch of numbers* - Payroll From James *last name* Via WISE"

        • By pushing rather than pulling funds from your Wells Fargo savings account, you could have avoided the $8.71 fee you paid to fund your Wise balance.

          Your Wise balance is actually a checking account in your name that Wise set up for you at its partner bank, Community Federal Savings Bank (routing# 026073150). By making your Wise checking account an external account to your account at another bank, you can push funds from your account at that bank to your Wise balance for free.

          Your Wise checking account should be one of your Wise Recipients. Click on that recipient to see your Wise checking account number and routing number.

          • It wouldn't let me edit my comment, but I finally figured it out. I had to click the "request" button. It then had me verify my identity and select "purpose" for this feature. It gave me fairly limited options that all seemed to be related to working abroad, but I just selected something along the lines of paying for contractor services.

            Anyway, after getting through that it finally shows me my account information.

            However, my routing number shows to be Lead Bank (101019628).

            Thanks for the tip about this feature. I would have never even so much as considered it or dug deep enough to activate it without you mentioning that.

          • To get your Wise account details:

            From Home, select USD (if that's your currency). Then select Account number ending xxxx>

          • I'm trying to set this up this morning but not sure where/how to see my Wise checking account information. When I click on Wise Recipients, I only see my own external banks that I added myself.

            Is there some other way to see my Wise checking and routing info?

          • To get your Wise account details:

            From Home, select USD (if that’s your currency). Then select Account number ending xxxx>

          • Oh wow, that possibility hadn't occurred to me. I appreciate the information. I'll do that on my next push in a couple weeks.

    • It should post by 4/7 if you do it early in the month (and if wise works). My bonus posted on the 3rd month when I did wise push early

      7/30/24 - $1002 wise payroll
      8/8/24 - $1002 wise payroll
      9/3/24 - $1001 wise payroll
      9/6/24 - $300 bonus posted

      • Interesting.

        According to the T&C, "Any qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following the Enrollment Period.”

        Since your Enrollment Period ended 10/28/24 (7/30/24 + 90 days), your bonus wasn't supposed to be paid until 10/29/24 to 11/4/24.

      • Just curious why make multiple pushes from wise when there's a fee on every transfer? Wouldn't it be ideal to push less to avoid mjtkple transfer fees?

        • Set up a new payroll direct deposit to your First Tech Rewards Checking of $5,000+ per month for a minimum of three months...

      • Did you have any confirmation as you went along the Wise pushes counted as direct deposit?

        My first month's statement doesn't really confirm one way or another - just says "ACH Deposit WISE US INC (bunch of numbers) - Payroll From (my name) Via WISE".

    • Wise also works when I did it last summer but didn't work from a recent DP so who knows. I'm trying wise for P2 and will see

    • Treasury Direct has worked... but one recent DP said otherwise. It's very possible they had other issues going on, like promo code not applied. IIRC, that particular person did not get the periodic emails stating they were on their way to getting the bonus. YMMV @guest_1807646

        • Based on ONE person's DP, yeah... Sometimes anomalies happen.

    • For what it's worth, last year I received the bonus within a week of hitting the third month deposit.

    • Payout depends on when you start the direct deposits. Payout should be no more than 97 days after first DD. Sept 7th is for their example where DD is started on Jun 1st.

      "Any qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following the Enrollment Period. "

  • I am seeing the offer’s fine print under 4) Qualification Requirements per Monthly Cycle,

    “Have an aggregate spend of at least $1000 per month posted to the applicable accounts”
    ,and the two qualifying transactions as,

    “1. Posted debit card purchases to the First Tech Rewards Checking account. 2. Posted credit card purchases on a First Tech credit card account. Credit card purchases must be made on a First Tech credit card account with the same primary account owner as the First Tech Rewards Checking account."
     
    Do not see this talked about in this post, and wanting confirmation that making a credit card payment would count as a debit transaction for this requirement. Will reach out to customer support to confirm before opening, and update here.

    • Just talked to support (shoutout to Nick, super helpful and casual), he admitted that the qualifying debit transactions have to be an actual purchase, not making a credit card payment. He admitted trying to do the same and ended up with fees.

      Don't plan on getting a new CC, so not doing this one.

    • What you are seeing is related to receiving the higher interest rate. It has nothing to do with qualifying for the bonus. That's why there hasn't been much discussion about it.

  • FYI, I screwed this one up last year but they still paid out. I did the first two months DD's and then went on vacation and forgot to do the third.
    So I started over and did four months of DD's (Wise) and it worked.

    • @guest_1808635 is your wise account Personal or Business? If personal how did you specify the transfer to have it appear as a payroll DD?

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