[Expired] Monifi $200 Checking Bonus, Available Nationwide

Deal has ended, view more bank account bonuses by clicking here. There is now a new $250 bonus.

Update 5/17/21: Deal has been increased to $200 until 5/31/21.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Nationwide
  • Direct deposit required: Yes, two direct deposits of $1,000+
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • Monifi is offering a bonus of $200 when you open a new checking account and complete the following requirements:
    • Make two direct deposits of at least $1,000 each into your Spend Balance

 

The Fine Print

  • Receive $100 when you set up direct deposit to your Spend Balance and receive two (2) direct deposits of $1,000 USD or more within 90 days of opening your Monifi Relationship.
  • The direct deposits must be an electronic deposit of the account owner’s paycheck, pension or government benefits (such as Social Security).
  • Limit one (1) incentive per customer.
  • $100 USD paid as a credit to your Spend Balance within 45 days of meeting promotion requirements.
  • Offer may be changed or withdrawn at any time.
  • Monifi Relationship must be open and in good standing to receive promotion incentive.
  • 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

This account has no monthly fees to worry about.

Our Verdict

Seems like a relatively easy bonus to meet the requirements for, although difficult to know how strict they will be on the direct deposit requirement.  Will add this to our list of the best bank bonuses. Seems like most people are being approved, but lots being denied as well.

Useful posts regarding bank bonuses:
    William Charles
  • On May 17, 2021, 19:45
Tags: direct deposit requirednationwide bank bonusessoft pull

View Comments (418)

  • Just got a letter today from MidFirst bank advising of a may 2023 data breach with Monifi Bank (division of MidFirst). Name, SSN, account numbers, etc. were stolen.

    They are offering a complimentary 24 months of OnAlert from ChexSystems

    @will @chucksithe

    • I did receive one in the mail. I have seen several other DPs of receiving a 1099-INT as well. It is from MidFirst Bank, and their EIN/TIN is 73-0383055 in case you need it. @guest_1349578

  • Any reason to keep this open? I haven't seen any data points indicating it can be used for a simulated DD or anything...

    • How did you transfer money from Sofi (push or pull)? I tried to link with Plaid by logging into Sofi and was unable to link.

  • 7/20/21 - opened account
    7/30/21 & 8/13/21 - direct deposits hit
    8/17/21 - promotional credit posted to Monifi Spend account

    ALSO, on 8/3/21 I received a $25 "Monifi new goal promotion" deposit to my Monifi Save account. Don't see this posted anywhere on here or in Monifi's terms, so I don't know how/why I got it, but thought it was worth mentioning.

    • Should've read more comments first ... I see that a few others are mentioning this additional $25 bonus. I never received an email about it, and definitely didn't opt in to anything, so idk. But I'll take it ;)

  • Looking at posts here, seems like the time between DD and bonus payment is kind of variable -- usually a week or less but sometimes more.

    It's now eight days since my second real DD but I will wait another week before I bug them ....

    Anybody who got the $200 bonus have to bug them to get it?

    • I haven't read every comment but I think most, if not all, of us had our $200 bonuses post automatically.

      The terms state that Monifi has 45 days to give you the bonus so I would wait until that passes before inquiring with them. You don't really have much to worry about since you used a real DD.

  • My entire family was able to open the account except me. Any idea why it doesn't work for me? Any settings or something I should be doing differently? No credit freeze and no issues with opening other bank accounts (no chex)

  • ACH from Chase completed on 6/25

    Received $250 bonus on 6/29

    Also received $25 Savings bonus on 6/22 (just opted in, didn't transfer money)

  • Signed up 6,22,21; received $25 goal bonus last week and the $250 DD bonus today.

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