[FL, SC] Grow Financial Federal Credit Union $300 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: FL, SC
  • Direct deposit required: Yes, no minimum
  • Additional requirements:
  • Hard/Soft Pull: Soft pull
  • Chex Inquiry: Yes
  • Credit Card Funding: Yes, $500 Limit
  • Monthly fees: $5
  • Early account termination fee: None listed
  • Household limit: None
  • Expiration date: None

The Offer

Direct link to offer

  • Grow Financial Federal Credit Union is offering a $300 checking bonus and complete the following requirements:
    • Set up a monthly direct deposit (no minimum mentioned)
    • Register for online banking

The Fine Print

  • To qualify for the bonus, you must open a Grow CashBack Checking or Grow Checkless Checking Account, set up a monthly electronic direct deposit to the account, and register for online banking.
  • There is not a minimum balance to open the account or obtain the bonus. This offer is not available to existing Grow Financial members, and only one bonus will be paid per member.
  • This offer is limited to individuals residing in Florida or South Carolina only.
  • After you have completed all requirements, we will deposit the bonus in your account within 60 days. To receive the $300 bonus, the enrolled checking account must not be closed or restricted at the time of payout.
  • This offer is effective as of 09/18/23 and subject to change without notice at any time.
  • The bonus is considered interest and will 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

Grow checkless account has a $5 monthly fee. This is waived if you do any of the following:

  • You are a minor (younger than 18 years old)
  • You have a Grow Checkless Checking Account
  • You have a Grow loan
  • You have a Grow Visa® credit card with 5 or more
    monthly transactions or an outstanding balance
  • You have a Health Savings Account (HSA)
  • You maintain an average monthly account balance of $200 or more (average monthly balance is defined as the average balance for all shares)
  • You maintain an average monthly balance across multiple accounts of $400 or more (multiple accounts is defined as having two or more primary membership accounts)

Early Account Termination Fee

According to the fee schedule, there is no EATF.

Our Verdict

Previously the best bonus was $200 with no direct deposit required. This is an extra $100 but obviously with the direct deposit requirement and we don’t have any datapoints on what has worked in the past.

Useful posts regarding bank bonuses:
    William Charles
  • On October 8, 2023, 21:00
Tags: direct deposit requiredfl bank bonusessc bank bonuses

View Comments (60)

  • Data point: I tried to close via secure message. They messaged me back and said i need to call. I called and closed successfully.

  • 10.19.23 - Account Opened
    11.22.23 - $200 real DD from work paycheck
    12.01.23 - $300 bonus posted.

    Another successful data point, thank you Doc!

  • Just got paid my bonus from them. Applied 10/8, never heard back for almost 3 weeks. Then I got an email 10/25, had a single $120 real DD on 11/22. $300 bonus posted 12/1. Definitely one of the best paying this year for such a low DD!

  • Got approved on the 18th pretty easy process (FL resident), direct deposit was set up same day but since my employer released paychecks for that week already was not able to receive first DD until the 27th. Currently waiting to see how long it takes for the bonus to be received, I know it states up to 60 days after steps have been completed but normally some institutions are prettt quick. Will update when received.

  • This has already been a mess. I submitted an application and got an email the next day that I have an account. No account number was provided. No mailer. Called after a few days and was provided my account number and "checking number." Checking number was inaccurate apparently (you have to flip the order it's presented on for ebanking). I am now working with my employer to get a reversal. To get a direct deposit form, you have to go in branch or talk to a live person. Absolute mess. I don't recommend this bank. This has not been worth the headache.

    • Their customer service is some of the worst I've ever experienced. I also had to call for my account number but the rep was completely clueless and barely spoke English. Had much better success using the live chat feature, they actually helped me fairly quickly. I think they outsource their customer support overseas which is really weird for a smallish credit union??

  • I applied on 10/8, and didn't hear anything back so I figured I was denied because i'm LOL/24. now 2 1/2 weeks later I woke up to an email on 10/25 asking me to e-sign some documents. I did that, and was given my acc # to enroll in online banking. I honestly gave up after a week so this is a suprise lol

    • @guest_1711525 Do you know what your Chex stats were at the time of application? TIA!

      • I honestly don't remember, I just started churning in Feb of this year. I know I was at 32-33 accounts at the time I was approved @guest_1717343

        • @guest_1711525 That's very impressive for the first year of churning. So many options when you first start!

          Do you live near a branch?

          • The closest to me is about 2 hours away. I started with cc sub's, and once I learned about banks I was hooked haha. It's such a fun harmless side hobby, the extra money is always nice! @guest_1717343

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