Update 12/9/23: Deal is now $250 and available in more counties (Morris Essex Union Somerset).
Update 5/24/20: Deal is back, no end date listed. Hat tip to IS250
Offer at a glance
- Maximum bonus amount: $150
- Availability: live, work, worship or attend school in Morris County, New Jersey. Morris Essex Union Somerset
- Direct deposit required: $500+, says full pay
- Additional requirements: Use promo code EVENT$150
- Hard/soft pull: Soft pull
- ChexSystems: Yes, not sensitive
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Bonus forfeit if closed within 6 months
- Household limit: None listed
- Expiration date:
May 31st, 2019None listed
The Offer
- Open a new free checking account from Picatinny Credit Union and receive a bonus of $150 when you complete the following requirements:
- You must use the promo code EVENT$250
- Initiate a repeating direct deposit of $500+ your full pay, social security or pension into your account within 60 days of account opening
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
- Checking account must remain open for 6 months or bonus will be forfeit
Avoiding Fees
This account does not have any monthly fees, they do require you to keep it open for six months to avoid any early account termination fee though.
Our Verdict
Might be worth doing if you live in the area due to the fact it’s a soft pull to open the account, but that will really depend if you’ve done all the better bonuses that are available already. For now we have added our best bonus list, but towards the very bottom. Share your experiences with this bank and bonus in the comments below.
Hat tip to IS250
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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
Post history:
- Update 5/18/19: Deal has been increased to $175
Is there a referral link for this offer?
Looks like the refer bonus is a physical coupon you have to print from the site (a .pdf file) put the member info on to take in branch.
Also, its two sides, one for savings and one for checking.
Although probably can only use one of them.
codes on the coupon:
referral$25
referral$75
I am scheduled to go to a branch on Oct 24th. (universe/karma/weather permitting)
If Anyone here a member I’d like to be able to see if the codes work.
Just message me to message you or whatever the rules are on this site for that.
Then overall this would be a good deal worth more than the $285.
Thanks,
-M
Bonus increased to $285:
https://www.picacreditunion.com/checking-savings/checking/
* To qualify for the $285 cash reward, you must open a new Checking Account and initiate a repeating Direct Deposit of at least $500 a month from an employer, social security or pension into the account. The first Direct Deposit must be initiated within the first 60 days of account opening. The $285 Cash Reward will be deposited into the Savings Account within the first 90 days of account opening. Checking account must remain open for 6 months. Offer subject to approval by Credit Union. Cash Reward is considered interest and will be reported on IRS form 1099-INT. +eStatements are available in online banking free of charge. Members who use online banking and choose to receive a paper statement, will incur a $5.00 monthly statement fee. Cannot be combined with any other offers or promotions.
Has anyone been able to churn this new bonus? I know the previous bonus required at least $500 in deposits for at least 3 months, but the terms for this new bonus states the following:
The $75 Cash Reward will be deposited into the referring members savings account upon receipt of initial direct deposit payment. The $285 Cash Reward will be deposited into the new members savings account upon receipt of initial direct deposit payment.
From this it looks like the bonus is paid after the first DD, can anyone confirm this?
With your permission I can use you as referral.
Asking moderators if there is a seperate link for referrals?
Otherwise I use gmail at halisi two thousand nineteen
Thanks
-M
Opened online: 11-Dec
Real DD: 22-Dec
Real DD: 5-Jan
Waited ~90 days from account opening and called today, 15-Mar, about the bonus. They did a manual check and deposited the $250 bonus same day.
Does anyone know if this $250 bonus can stack with the $75 referral bonus?
Good evening,
Were you able to use the referral bonus?
I didn’t try
Oh ok.
Well looks like the bonus coupons are still viable.
Only requires name and phone number.
If you ended up opening an account, I can use your info with your permission.
I’m on @ gmale. (2019 halisi) transposed all one word/number set no parenthesis no spaces.
Otherwise I think I will have to literally loiter at the branch and hope members come in and I can beg for their info when I open an account.
Or use a branch worker, coupon doesn’t list them as an exclusion.
-M
Sorry, I closed my account already.
Looks like this link is dead.
yeah, but you can still find the promotion on their website
Applied two days ago online. I just signed the application that was sent to me in my email via DocuSign. I did not find any place to enter the promo code. Waiting for the final email with account details now. The plan is to discuss with the rep if they call me with the new account details. 🙂
There is no place to add the promo code in the application. They called me to finalize my account opening and when I asked about they bonus they said that once the DD goes through AND the account has been opened for at least 3 months to call back at extension 402. They will manually verify that the requirements were met and then manually deposit the bonus.
uh uh so that means 500 dd required for at least 2 months maybe 3….still ok I guess for 250 but requires a bit more work now.
Does the bank accept any ACH as Dd?
I applied but didn’t see any place that asked for the promo code. did I miss something?
Is this $250 or $150? Confused by the post and the link to the offer is broken.
The offer is not difficult to find, and the link is fine. The broken one is you.