Offer at a glance
- Maximum bonus amount:Ā $100
- Availability:Ā who lives or works in Jasper, Boone, Story, Marshall, Tama, Benton, Polk, Poweshiek, Iowa, Warren, Marion, Mahaska, Keokuk, Lucas, Monroe, Wapello, Wayne, Appanoose and Davis.
- Direct deposit required:Ā Yes, two $500+
- Additional requirements:Ā None
- Hard/soft pull:Ā UnknownĀ
- ChexSystems: Unknown
- Credit card funding:Ā Unknown
- Monthly fees: None
- Early account termination fee:Ā Unknown
- Household limit:Ā None listed
- Expiration date:Ā None listed
Contents
The Offer
- Advantage Credit Union is offering a $100 bonus when you receive two direct deposits greater than $500 within 60 days of account opening
The Fine Print
- Flip the Switch rewards will be paid to member no sooner than 60 days after account is opened.
- Member will earn $100 if the account receives two direct deposits greater than $500 within 60 days of account opening.
- Member will earn $50 if the account receives two direct deposits greater than $500 in a 60 day period, regardless of account opening date.
- 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
I wasn’t able to find a fee schedule so unsure if there is any EATF or not.
Our Verdict
Not sure if an account can actually be opened online or not and it’s a small bonus requiring a direct deposit but might be worth doing some readers if they live near a branch.
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: Donāt Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Donāt 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 ā We Wonāt 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
You have to contact them in order to open an account, so I reached out to them even though I’m OOS, just to see. Essentially denied, here’s the reply:
“Thank you for reaching out about our āFlip the Switchā promotion! I see that you are living in [OOS]. We currently only serve those in 19 counties in Iowa. Do you work in any of the 19 counties we serve? Or have any immediate family members who have an account with us?”
Fee Schedule: https://www.acuiowa.org/fee-schedule
Account Closure Fee: $10.00 if within first 180 days of opening account