Offer at a glance
- Maximum bonus amount: $100 for person referring, $50 for person signing up
- Availability: In branch only [Branch locations are all in NY]. Must live, work, worship or attend school in Suffolk county, NY.
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: UnknownÂ
- Credit card funding: Up to $1,000, no American Express
- Monthly fees: None
- Early account termination fee: $20, six months
- Expiration date: August 31st, 2016
The Offer
- Refer a friend and you’ll receive $100 and the person you refer will receive $50 when they do the following:
- Complete and return a Member Referral slip availableat any Suffolk Federal branch– ask a representative!
- Open a Free or Max Money Checking account with a minimum of $100 opening balance
- One of the following:
- Pay 4 bills though Suffolk Federal’s FREE Online Bill Pay Service
- Use your Suffolk Federal Check Card for four signature-based transactions
- Take out a loan with Suffolk Federal within the first 60 days
The Fine Print
- Checking account of new member must be opened with a minimum of $100 and must remain open for 60 days.
- Both referring member and new member will receive cash incentives once the required terms and conditions are met.
- Membership in Suffolk Federal requires a Share Savings account with a $5.00 minimum balance and is open to anyone who lives, work, worships or attends school in Suffolk County, N
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
According to the fee schedule there is an early account termination fee of $20 if closed within six months. They offer a free checking account that doesn’t have any monthly fees. You can also earn 1.5% APY on this account, but there are quite a few requirements.
Our Verdict
Feel free to share your referral information in the comments, but I ask you to provide some data points on whether it’s a hard/soft pull and if they allow credit card funding as well (I’m sure readers will be happy to support people that provide this information). This is a pretty good bonus if you can get somebody that knows you to give you their $100 referral bonus (or at least $50 of it) we won’t add it to our best bonus list because a $50 bonus isn’t really worth it.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t 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 – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
