Update 7/2/22: Deal is back. Hat tip to alopez14
Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â OH only [Branch locator]
- Direct deposit required:Â Yes, but says ACH will work
- Additional requirements:Â 10 debit card transactions
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â $3.95, waivable
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â May 31st, 2019
Contents
The Offer
- PSE Credit Union is offering a bonus of $100 when you open a new deluxe checking account and complete the following requirements within 60 days of account opening:
- Set up direct deposit/ACH
- Perform 10 debit card transactions
The Fine Print
- 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 a $3.95 monthly fee ($4.95 monthly fee with paper statements). No way to avoid the monthly fee.
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is an early account termination fee or not.
Our Verdict
Even though a direct deposit isn’t required I don’t think this bonus is worth considering due to the fact it’s only for $100 and there is a monthly fee that can’t be avoided. Because of that we won’t be adding this to our list of the best checking bonuses.
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: 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
I was in the area, so I checked out the details. Per the banker, the Deluxe Checking Account is fee free for the first 6 months and that any direct deposit or ACH transfer should work just fine. Seemed pretty simple. I signed up and I’ll post the details of my experience.
Was it a Hard Pull?
Although this is limited to the membership categories raekwon noted (Cuyahoga/Medina Co. affiliation), the account details page does say the account is fee-free for the first 6 months and the account agreement didn’t have anything about an ETF listed within. Could be worth it to get the bonus and close w/in 6 months.
Was it a hard pull?
Should be noted that this isn’t statewide. Membership is only open to folks in Cuyahoga and Medina counties (“anyone who lives, works, worships or attends school…”), who are part of one of their select employee groups, or a family member of an existing member.