[Expired] Monifi $250 Checking Bonus, Available Nationwide

Deal has ended, view more bank account bonuses by clicking here.

Update 5/8/22: Also need a minimum balance now after second direct deposit.

Update 5/1/22: Extended until May 31, 2022.

Update 3/1/22: Deal is back and valid until 3/31 now 4/30

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Nationwide
  • Direct deposit required: Yes, two direct deposits of $1,000+
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date:9/30 12/31/21 March 31, 2022 April 30, 2022

The Offer

Direct link to offer (must download app to apply)

  • Monifi is offering a bonus of $250 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 within 90 days of account opening
    • Maintain a beginning of the day minimum Relationship Balance** of $1,000 USD for fourteen (14) calendar days following your second eligible direct deposit

The Fine Print

  • Receive $250 when you set up direct deposit to your Spend Balance and receive two direct deposits of $1,000 USD or more within 90 days of opening your Monifi Relationship.
  • Valid for Monifi Relationships opened between May 31, 2021 and June 13, 2021.
  • The direct deposits must be an electronic deposit of the account owner’s paycheck, pension or government benefits, such as Social Security.
  • Limit one incentive per customer.
  • $250 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  • Offer may be changed or withdrawn at any time.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 EATF to worry about.

Our Verdict

This is an extra $50 than the last bonus we’ve seen. Great for people that missed out on the $200 bonus. Most people are being approved, but also some datapoints of being denied as well. We will add this to our list of the best bank account bonuses.

Hat tip to ShawntheShawn

Useful posts regarding bank bonuses:
    William Charles
  • On May 1, 2022, 23:02
Tags: bigdirect deposit requirednationwide bank bonusessoft pull

View Comments (2119)

    • This link worked for me today and I was not affected by this breach. Just 12 months of monitoring, though.

    • Edit: never mind, you need a PIN code provided by the financial institution if you do not use the link from Midfirst.

      • So, MidFirst is likely picking up a fee for each sign-up using that link the State of Mass. made public.

      • P1 & P2 did get a letter from MidFirst Bank this week from being a Monifi customer, so I don't have to feel like I stole this service anymore. We were impacted.

        The same sign-up link and expiration are provided as noted above. @will @chucksithe

        • Signing up for this OnAlert by Chexsystems service adds a new entry on your Chexsystems report, near the very end in the following section:

          Consumer Alert Subscription Information
          "This section refers to information ChexSystems received related to a request for a consumer alert subscription. The company listed below notified ChexSystems of a consumer alert subscription, which may access ChexSystems files to provide alerts to you."

          Entry:
          CSIdentity Corporation; 475 Anton Blvd, COSTA MESA, CA 92626
          Phone Number: Telephone Number Not Available
          Effective Date: (date you signed up for OnAlert)
          (Your name, SSN, and address)

          So, maybe the Chex alerts only work for specific banks that are looking at that information. The only FI that I have seen the OnALert Chex alerts work for was Tower FCU.

          I don't really like that they added this entry to my Chex. I think it would be easy for a bank to confuse this with a fraud alert. With credit fraud alerts, a fraud alert notifies creditors to take extra steps to verify your identity before extending credit. That's all I need is for banks making it harder to get accounts approved. /sarcasm

      • I believe Monifi was already shut down by the time this breach happened.. But, I did go ahead and sign up for the monitoring as a past Monifi customer.

        So I wonder how long it'll be before we hear about a monitoring product being breached? They want you to add all your ID numbers, credit cards and bank accounts... etc. LoL

        P2 tested the Chex alerts today. She got it! Went right to her junk file on Hotmail.

          • No kidding. I wonder how many breaches are not reported, or not even discovered?

          • My BMO Harris Chex inquiry on 9/15 did not generate an alert. LOL I verified on Chex, no email, and no alerts on the website.

            This is monitoring by Chexsystems, which doesn't even work right for Chex. What a joke.

            I would assume they will catch it at some point, but who knows?

          • I haven't tested it much yet, but Tower FCU lit off P2's alert and clearly states it's from Chexsystems. I had my Chex frozen for Amex today and no Chex hit.

            Tower application submitted: Tuesday, August 29, 2023 11:50 AM
            OnAlert email arrived: Tuesday, August 29, 2023 1:48 PM
            Subj: New Bank Account Inquiry Alert

            Not sure why yours wouldn't be working. Maybe it's delayed?
            You can log in here and check for alerts: https://portal.onalertid.com/

            I also know my Financial account monitoring at MyIDCare is hit and miss, but that is EWS.

          • My TFCU app on that same day also triggered the OnAlert email, but my Wesbanco app on 9/12 didn't and OnAlert doesn't show it anywhere. Requested my chex and it does show the inquiry on 9/12.

          • Well, sounds like that service is not very reliable then.

            With Chex, I just log in nowadays, view the Dispute tab, and see all the inquiries anyway. That's been a game-changer for me. But, I guess not everyone can get the login to work.

          • I guess it's possible... if your login at Chex doesn't work right, maybe that is the same interface OnAlert uses to monitor your Chex. Food for thought. Maybe ride Chex to get it fixed...

          • That’s an interesting thought… You can still request mailed reports and see them in the correspondence section next day or day after that so not horrible.

          • OnPath and BluPeak CU's did not alert on the OnAlert service, and I know for a fact they pulled Chex. Logged in to verify I just didn't miss the email alert, and I got nothing, P1 & P2. The only one it worked on was Tower FCU.

            So, the service By Chexsystems, cannot even monitor their own data warehouse.

            Luckily I can log into Chex anytime, so I don't really need the alerts, but it would be nice.

            My theory about needing the Chex login path to work for OnAlert to get Chex alerts is debunked.

          • Got OnAlert alerts tonight... x3.

            Change: New Bank Account Inquiry
            Company: AMERIS BANCORP
            Inquiry Date: October 31, 2023

            So, Tower FCU, and Ameris Bank work with the Chex Alerts.

          • I wonder if their alert system had been broken the past couple months and just got fixed. I just got some telephone number alerts too.

          • I just logged in for the first time in weeks and I see inquiries in the notification center for Starone and Ally on 10/05, though I never received any push alerts. Meanwhile, Ally inquiry from September is completely missing for P2. Seems like all of Sept is missing for most everyone.

          • Seems OnAlert is working as designed now.

            P1 got the Affinity Bank (FitnessBank) Chex email alert on the same day, maybe within minutes, yesterday. The others have been the next day.

            So, for me & P2, OnAlert started working consistently on Oct 30th. Ameris, Security Plus FCU, and Affinity Bank were good this month. @guest_1210661 @guest_1694418 @guest_1680623

          • Thanks for the helpful datapoints!

            I did also notice that P2's Chex login is working now, maybe it was all along or maybe it started working, not sure. Still no OnAlert Chex alerts for. BMO for either of us.

      • Agreed. I realized midfirst bank was associated with the monifi bonus after some research. This would help.

  • I'm guessing Midfirst is sending out 1099s since the Monifi brand went away. Has anyone received theirs for tax year 2022?

    • @guest_1399424 I received my Monifi 1099-INT in the mail from MidFirst around the beginning of February.

  • Negative for Wells Fargo even though it showed up as "ACH Deposit"
    Opened 5/9/22 with $200 from discover
    5/13 Wells Fargo personal checking push $1001 From "ACH deposit" Description: "Wells Fargo IFI DDA TO DDA ######" Category: "Income"
    5/16 pulled 957 out
    5/20 WF push $1005 From "ACH deposit" Description: "Wells Fargo IFI DDA TO DDA ######" Category: "Income"
    5/23 withdrew 200, balance still over 1000
    Finally withdrew down to zero at 8/3/22 when no bonus appeared.

  • Monifi DP:

    April 10: Account opened
    April 29: $1k real DD
    May 13: $1k real DD
    May 13: $1k transfer out
    May 31: $1k transfer out
    June 21: $250 bonus posted

  • Anyway to close the account without calling? I read it somewhere if we leave the balance at zero and they will close it after awhile.

    • Calling the number, selecting 0 in queue the automated voice confirms this. Obviously hang up before talking to someone.

  • They refused to honor the bonus even though I deposited over 2.5k into the account via DD. They said it was because the DD were in amounts less than 1k each.

    • Follow the rules and don't call the bank unless you're doing it legit with real DD. This is why we can't have nice things.

    • I assume you knew this and were just hoping to squeak by regardless? The third bullet in the post spells it out pretty clearly--
      Direct deposit required: Yes, two direct deposits of $1,000+

  • Wealthfront Cash Account triggered DD alert through the app, but did not receive bonus

  • monifi is no more. it's becoming MidFirst.

    Thank you for choosing Monifi.

    We’re writing to let you know that we’ve made a strategic decision to discontinue the Monifi brand effective September 21, 2022. There’s no immediate impact to your Monifi Relationship, and no action is required by you at this time. You may continue using your Monifi Orange Debit Card, and access your accounts through the Monifi App or online at monifi.com. And, as Monifi is a division of MidFirst Bank, your deposits remain in FDIC-insured accounts.

    We are committed to making the upcoming transition from the Monifi brand to the MidFirst brand in September as smooth as possible for you. You’ll receive additional information on August 3, 2022, providing complete details on how to transition to the MidFirst technology platform or close your Monifi Relationship. In the meantime, for additional information, please visit monifi.com/transition or click the button below.

    Thank you for being a Monifi customer. It’s been our pleasure to serve you.

    • Followup email from Monifi below. TLDR: You can either follow some steps to transition your accounts to MidFirst or they will close your accounts on September 21.

      @chucksithe

      "Thank you for choosing Monifi.

      We’re writing to let you know that we’ve made a strategic decision to discontinue the Monifi brand effective September 21, 2022.

      You have the option to transition your Monifi Relationship Accounts to MidFirst Bank Online Banking. Please review the MidFirst Account Agreement and Disclosure, Fee Schedule and the Notice of Change of Terms before you transition your accounts. In order to complete the transition to MidFirst, you will need your Monifi Spend Balance account number and the ending balance as of your last statement for that account. This information is available in the Monifi mobile app. Step-by-step instructions may be found at monifi.com/how-to-enroll and additional information may be found at monifi.com/transition.

      While the Monifi brand is being discontinued, your accounts have always been held by MidFirst. Going forward, these accounts will be governed by the MidFirst Bank Account Agreement and Disclosure and Fee Schedule. Some terms of your accounts will change, and you may read a summary of those changes in the Notice of Change in Terms. You may view the full MidFirst Bank Account Agreement and Disclosure, Fee Schedule, and the Mobile and Online Banking Terms and Conditions by clicking on the foregoing titles.

      Important Note: On September 21, 2022, Monifi Relationship Accounts that have not transitioned to MidFirst Bank Online Banking by 10 p.m. CT, will be closed and a check for the outstanding Relationship Balance will be sent to the address on file.

      We are looking forward to continuing to serve those who make the transition to MidFirst Bank Online Banking, and thank you for being a Monifi customer."

      • I transitioned my account(s) to MidFirst, transferred all money into the "Save" account, and SMed to close the "Spend" account. The accounts are apparently still linked together after the transition, because they would not close the "Spend" account while the "Save" account had a non-zero balance.

    • Received same email. I wonder if there's any benefit to keeping a relationship with MidFirst. I don't live in their footprint.

  • Wise works as DD. Just got my bonus after 36 days from the second DD.
    Acc opened May 10th

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