PSECU $300 Checking Bonus

Update 1/2/25: Deal is back until 12.31.25.

Update 1/1/24: Extended until 12/31/2024.

Update 1/3/23: Bonus is now $300 and can also be done using a referral link again.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: PA only, nationwide if you become Pennsylvania Recreation and Park Society (PRPS) for $20. See this comment.
  • Direct deposit required: Yes, $200+ per month ongoing
  • Additional requirements: See below
  • Hard/soft pull: Hard pull
  • ChexSystems: Yes
  • Credit card funding: Up to $100 with a Visa or Mastercard
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: May 31, 2021 December 31, 2021 December 31, 2023

The Offer

Direct link to offer (or use a referral link found here)

  • PSECU is offering a bonus of up to $300:
    • Use promo code 300PROMO
    • Sign up and log into digital banking (online or mobile).
    • Set up and receive two (2) qualifying payroll direct deposits each of $500 or more.

The Fine Print

  • Participant must be a U.S. Resident.
  • Promotion open to persons 18 years of age or older at the time the account is opened. One promo code per New Member. Additional promo code will be invalid.
  • The recipient of the $100 bonus is solely responsible for payment of applicable taxes on that amount. If you have any questions, please seek the advice of a qualified tax professional.
  • PSECU reserves the right to recall the $100 bonus if the member account is closed within the first year of establishing membership.
  • PSECU reserves the right to recall the $250 direct deposit bonus if the payroll direct deposit(s) is/are not active for six consecutive months or if the member account is closed within the first year of establishing membership.”
  • If PSECU is unable to confirm any qualifying monthly direct deposit is a recurring payroll deposit, or if the member is not in good standing as defined by PSECU’s Bylaws Article II, Section 1, PSECU reserves the right to withhold the payment of the $250 direct deposit bonus.
  • If the member is not in good standing, at any time prior to the payment of the bonus, as defined by PSECU’s Bylaws Article II, Section 1, PSECU reserves the right to withhold the payment of the $100 bonus.
  • Payment of the $100 bonus will be deposited into the Regular share within 45 days after the requirements are satisfied.
  • This offer is only open to new members who meet PSECU eligibility requirements.
  • All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice.
  • Employees, agents, and officials of PSECU and immediate family members of any of these are not eligible for this promotion.
  • Subject to all applicable federal, state and local laws and regulations.
  • Promotion open to persons 18 years of age or older at the time the account is opened.
  • Limit (1) new member incentive bonus per tax identification number used to open a new account per rolling 12-month period.
  • PSECU will only pay one new member incentive bonus per tax identification number per rolling 12-month period.
  • This is a one-time offer available to new members only, who have not previously been a PSECU member within the last 12 months.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

They offer a free checking account with no monthly fees to worry about.

Early Account Termination Fee

I didn’t see any mention of an early account termination fee in the fee schedule.

Our Verdict

There is a hard pull, but that is less of an issue with how restrictive credit card issuers are now. This is significantly better than the $150 bonus offered in the past. I do think this is worth doing if you don’t care about hard pulls and will add it to the best bank account bonuses.

Hat tip to reader Ed I, Davis & ShawntheShawn

Useful posts regarding bank bonuses:

Post history:

  • Update 1/2/23: Deal has been extended until 2/28/23. No longer available via referral and bonus reduced to $200 from $250.
  • Update 1/11/22: Deal is now available via referral (person referring gets $50). Please do not share referrals in the comments below, they can be shared in this linked post here.
  • Update 6/1/21: Extended until 7/31. Looks like direct deposits need to be active for six months as well.
  • Update 4/10/21: Deal is actually available nationwide.
    William Charles
  • On January 2, 2025, 15:40
Tags: credit card fundingdirect deposit requiredhard pullnationwide bank bonuses

View Comments (1917)

  • For those that haven't received the bonus, I just called them to ask about it on my end. I used real DDs for this bonus (account opened on 1.3.25, met requirement on 2.6.25)

    The rep said that there was some message on my account regarding the bonus ("expired days in queue") and she didn't know what it meant, and had to refer this to another department that will reach out to me via email in 3-5 days.

    I was within the timeframe of the offer, I used the promo code during opening, and everything was legit, so we'll see what they say.

  • How long does it take for referrer to get the referral bonus? P2 got the $300 on 3/24 but my referral $50 is not posted yet.

  • 1/22 - Account opened
    2/5 - $500.00 from E*Trade
    2/19 - $500.01 from E*Trade
    3/24 - Received $300.00 bonus
    I'm leaving my account open with $5.00 in it

  • Got rejected (weird? have never been rejected for a bank account before)

    Unfortunately, we are unable to open your account at this time.

    If you believe this decision was made in error, we’re available Monday through Friday 8 a.m. to 6 p.m. (ET). Just give us a call at 800.237.7328, extension 3133.

  • Just got an email for a targeted $150 offer, for setting up a $500+ DD for at least 2 months by 6/20.

    • I'm assuming your account was sitting there empty. If that is the case, what are you keeping it open for? Did you anticipate bonus opportunities like this, or referrals?

      • Not quite empty, but a low balance. Referrals and I opened a certificate with them.

    • I also received this PSECU $150 email. @guest_1734276 @guest_2027298

      My current acct was opened around 5/14/2024, and $200 & $100 bonuses were received 6/17, and 8/31 respectively. Full DP: #1917255

      My Thoughts: I will be going after it. Slightly weird that they had it end on 6/20. I always like to see banks/CU's offer EXISTING customers a bonus! Sadly, it's pretty rare.

      • I never closed my account since it was a hard pull to open and they offered a referral program. However every a little while when I saw they ran new promotions for new customers I was like "Why haven't I closed it yet?" I am glad finally they are running a promotion for existing customers!

        • I have my P2 taking her year long break now, while I keep my account, and we will flip-flop this fall.

          PSECU has no hard pull now, just an Experian soft-pull and Chex inquiry, for new accounts.

          • That’s good to know! Still glad I kept it open, I got the same email offer today. The body of the email made it seem like you have to set up payroll dd through their platform, but the fine print looks like you just need to receive payroll dd, do any of you interpret it differently?

          • I agree... the fine print says nothing about using their "Pinwheel" payroll switching service. I would take that to mean it's optional.

          • They're just promoting that it's easy to switch your DD with their tool. You don't have to use it for the bonus.

      • Mine's even older, from 11/2023. I remember it was a PITA to open, but it's been smooth sailing since. I never closed my membership because I opened a certificate with them.

        The 6/20 end date is kinda funky. On that note, I can't tell if only the first DD has to be done by 6/20, or if both DDs need to be done by then. I'm leaning towards the latter.

        • I'd say both DD's need to be done by then. Many bank offers only give us two months, so three is nicer.

    • I just received the same email. How do you interpret this term "Limit one (1) Direct Deposit cash bonus paid per member account. This is a one-time promotional offer and is limited to the member named in the incentive email offer."? I have this account for a while and received a direct deposit bonus two years ago. Am I eligible for this new offer?

      • I interpret "Direct Deposit cash bonus" as just the name of the bonus for this specific offer, but it could go either way. I never worry much if these low requirement, existing account type bonuses pay out, since you don't have to worry about any Chex/credit pulls.

  • Opened 1/28/25
    US Bank Push 2/4/25 500 2x
    Chase Push 3/5/25 500
    Chase Push 3/6/25 500
    Bonus Posted 3/12/25

    I think the US Bank pushes worked

  • Does PSECU mail you a check for the $5 in member savings if you close all accounts including your membership? I have been a member for a few years since I opened CDs with them. But now their rates are low and I am thinking of closing them so that I can churn the bonus.

    For those of you who had previously closed membership and then a year later joined again, do you get assigned the "same" or "new" member ID on the 2nd time? Just curious.

    • I believe I was sent the $5 last churn. I have it written down from recently that they keep the $5 membership share if the account is closed within 1 year, but can't find the source of that information now; it may have been on the application.

      • Yes, the $5 share is mentioned in the terms for the bonus.

        "If the member account is closed within the first year of membership, the initial $5 share will be retained by PSECU."

        So, yeah, they mail a check for the $5 share. @guest_2024815

  • can confirm about 1099 that no bonus was reported for 2024.. rep confirmed over the call

  • DP

    01/22/25 - Opened account
    01/28/25 - $500 chase business ach deposit
    02/06/25 - $505 chase business ach deposit
    03/10/25 - $300 Bonus received

  • Can someone confirm this is now a soft pull? I applied with credit frozen and they denied saying they needed to pull experian. They also said it would be a soft pull and not a hard but I'd like an actual dp because I don't always trust agents lol. Thanks!

    • As of 2025, opening a PSECU account is a soft pull. They cannot soft pull your Experian with it being frozen. @guest_2020030

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