This deal has now expired, but there is a better offer for $100 + $100 in gift cards.
Reposting because Wisconsin residents can also apply.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Wisconsin or Minnesota residents can join via $5 donation, otherwise must live, work, worship, attend school or volunteer in Anoka, Chisago, Dakota, Hennepin, Ramsey or Washington counties
- Direct deposit required: Yes, $750+ monthly
- Additional requirements: eStatements
- Hard/soft pull: Soft
- Credit card funding: Up to $2,000, all credit cards accepted
- Monthly fees: None
- Early account termination fee: Bonus forfeit if closed within 6 months
- Expiration date: None listed
The Offer
- Receive a sign up bonus of $100 (also looks like you’ll get a free universal SENTRY charger, like $12 on Amazon) when you open a free checking account with Ideal credit union and complete the following requirements:
- Sign up for eStatements
- Have a recurring Direct Deposit ($750 or more monthly)
- Use your Ideal Enhanced Debit MasterCard® 10 times
The Fine Print
- Minimum $50.00 to open a personal checking account
- Checking account must remain open for a minimum of six months or the cash reward will be debited from the account during closing transaction
- Recurring monthly deposit of $750 or more per month, direct deposit of governmental or payroll checks into checking account and debit card transactions must be completed within 60 days of account opening
- Debit card transactions posted to your account must be signature based to be eligible for the cash reward. We reserve the right to disqualify debit card and recurring deposit transactions in circumstances where we reasonably believe they were not made in good faith
- The cash reward will be automatically deposited 6 to 8 weeks after the conditions noted have been met
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The checking account has no monthly fees, you do need to keep it open for six months otherwise the bonus will be taken back.
Our Verdict
Pretty good bonus when you couple it with the $2,000 in credit card funding, main problem is we don’t know how strict they are with the direct deposit requirement. If you have any experiences with them then please share in the comments below. In the mean time I’d recommend checking out these bonuses instead.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
$4 inactivity fee if you don’t use their debit card at least once per month (happened to me). In their terms & conditions…
“5. Inactive Ideal Debit Card Fee is $4.00 if card is not used at least once per month.”
I got bitten by this as well 🙁
Anybody have luck funding a 3rd or more account? I did the checking and reserve savings online each with $2k on CC but now I tried the 3rd and it said no account selected and I need to go into branch. However, I can see on the top of the screen if I get past that screen step 3 is funding again. So was hoping to keep this savings account funding rolling.
Any update on DD?
Thanks, added data points.
Since the checking account doesn’t have any fees, anyone want to guess how long you need to keep up the direct deposit? And how about that DD– is that a single deposit of $750 a month or might it be total ($375 x 2)?
Contacted them. They said, “it would just need to be a total of $750 per month. It can be one full amount or broken into different amounts.”
Anyone know the easiest way to manufacture debit card signature transactions? I never use debit cards
Here you go: https://www.doctorofcredit.com/bank-accounts/how-to-meet-minimum-debit-credit-transaction-requirements/
Thanks for the info guys, so is pin-less debit transaction and signature based the same thing? I was more so asking because depending on merchant and purchase amount, I think debit transactions could go through without pin and also without a signature. For instance with amazon gift card, would that count for this requirement even though there is no actual signature? Another example would be buying a 50 cent pack of gun at a drug store with a debit, I think I may have done that before and the purchase just goes through without pin or sig
Technically they are different, but in practicality they are used interchangably in my experience.
Joining via donation is only available for Wisconsin or Minnesota residents, unfortunately.
Applied today and got approved.
Can fund up to $2,000 with a credit card (Visa, MC, Disc, or Amex). I funded with an Amex after setting cash advance limit to $0.
Note that the $2,000 limit is spread among all accounts in the application, so if you apply for more than one account in your app (and you will, as there’s a mandatory savings account attached), the limit applies to the aggregate, not each account.
Soft pull too I assume?
Hard Pull, just for a “share savings”. Also, got “canceled” and asked to go to branch to verify (probably due to chex?).
Note Anoka, Chisago, Dakota, Hennepin, Ramsey or Washington counties are in Minnesota!