[Expired] Quorum Federal Credit Union $300 Checking Bonus – Direct Deposit Not Required – Available Nationwide

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Yes, $2,500. Visa & Mastercard accepted
  • Monthly fees: $10, avoidable
  • Early account termination fee: None
  • Expiration date: None mentioned
  • Household limit: None mentioned

The Offer

Direct link to offer

  • Open a new QChoice checking account with Quorum Federal Credit Union and receive a bonus of $300 when you meet the following requirements within 90 days of account opening :
    • Enroll in eStatements
    • Maintain a monthly direct deposit(s) totaling $1,000 OR a minimum average balance of $5,000
    • Conduct 10 or more transactions per month for the first three consecutive months. Transactions included (but aren’t limited to): making deposits or withdrawals, using your debit card for any purchase and paying bills

The Fine Print

  • Bonus will post within 120 days of account opening
  • $300 Incentive Requirement: Members with an existing checking account are not eligible for this promotion.
  • New QChoice checking account must satisfy the following requirements: 10 or more transactions per month for the first three consecutive months or 30 transactions over the first 90-day period, after account opening. Transactions include deposits, withdrawals, check writing, POS transaction, account transfers, ACH direct deposit, and bill payment.
  • The $300 cash bonus will be deposited into your QChoice Checking Account within 120 days after account open date if all account and bonus criteria was satisfied.
  • Account Requirements: QChoice requires enrollment in eStatements and minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000 to avoid a $10 monthly fee.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is a $10 monthly fee, this is waived if you’re enrolled in eStatements and have minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000. I found no mention of any early account termination fee in their fee schedule.

Eligiblity

To be eligible, must join either 1) American Consumer Council (no fee), or 2) the Select Savers Club ($5 fee, note that Quorum will pay this fee). You can sign up for either of these during the application process.

Quorum membership is established through the creation of a Basic Savings account with a $5 minimum balance. This account is opened automatically and funded with a $5 deposit by us when your application is approved.

Our Verdict

Fantastic offer and it’s nationwide with $2,500 in credit card funding. I don’t see this one lasting long to be honest, we still aren’t 100% sure it’s a soft pull but I suspect it is. Most likely this will be added to our best bank account bonus page.

Big thanks to reader, Elleni who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

Useful posts regarding bank bonuses:
    William Charles
  • On January 16, 2017, 20:41

View Comments (460)

  • Yes, I know this offer is expired, but it also appears that you can no longer fund accounts with a credit card at all. Your only options are: Transfer funds from another bank, OR: At a later time.

    • You're right, Im seeing the same thing. Bummer, another $2500 in CC funding would have been nice.

  • I forgot to do the $1k DD last month, got a $9.95 fee.

    Question for anyone still looking at this thread, I got the automatic $5 for the savings account, but it has never become as available funds. Is there a magic trick to getting the $5?

    • I tried messaging them to close the account but they required calling in. Called and as others have said, very easy procedure to close and they will even send the free $5 they gave me to when the account was opened.

  • Haven't checked my account for a while so when i logged in today, it was a nice surprise to see the bonus (posted on 5/25) there. Time to close?

    • I'm waiting for my $1k transfer and subsequent withdraw to $0 balance and then I'll close the account, probably in a week or so. I like to play it safe and have at least half a month to close the account and have any fees for that statement cycle already covered.

      • Was wondering if you did close your account and was there any problems? What about the basic savings account, did you close that or are you leaving that open to keep the credit union active for the future? Were you able to close via message or did you have to call?

        • I checked the comments hoping to find answers to these questions too. Mostly just wondering if I can close via SM or calling.

          • I know, seems that once an account is closed, most people no longer check or respond back to questions to help out others. Guess we're on our own.

            I plan on closing my account once the July statement comes out and will try via SM first (was able to close a savings account I had with them earlier this year via SM so hoping that will work for the checking also).

            I'll post once I find out anything.

  • Still have not gotten bonus, did all the transactions within the timeframe, and DD as well. Hoping it triggers when the statement hits tomorrow. Otherwise, is it worth it calling support?

    • DP: Contacted support on 6/2, told me they would review for bonus criteria, and bonus would be credited within 3 days. Just logged in and I got the bonus!

  • Received my bonus on 05/25, like many others.
    Account opened Jan 31. Transaction requirement completed Apr 20.

    Direct deposit DP: PayPal worked to waive the monthly fee (without having the $5k minimum balance).

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