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Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: Yes
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, extremely sensitive according to some datapoints but others say not sensitive so YMMV
- Credit card funding: Can fund up to $500 with a credit card
- Monthly fees: $5, avoidable
- Early account termination fee: None
- Household limit: None listed
- Expiration date: August 31, 2022
Contents
The Offer
- SkyOne is offering a $100 bonus when you open a new advantage checking account and complete the following requirements within 90 days of account opening:
- Receive a total of three (3) qualifying direct deposits of any amount into your new checking account during the qualification period
- Have a minimum balance of $500
The Fine Print
- This offer is intended for new checking accounts only.
- You are not eligible for this offer if you are a current owner of a SkyOne Advantage Checking account or have taken advantage of a SkyOne Checking Account bonus offer in the last 36 months.
- Offer valid July 14, 2022, to August 31, 2022, is subject to change without notice and may end at any time.
- To receive the $100 bonus, you must open an Advantage Checking account and setup direct deposit through our Direct Deposit Wizard portal. Within 90 days of account opening, receive a total of three (3) qualifying direct deposits of any amount into your new checking account during the qualification period; have a minimum balance of $500, and account must be in good standing.
- Account in good standing is defined as: 1) Your Checking account balance must not be negative for more than 30 calendar days; 2) You must be in good standing, which means no delinquent or charged off loans or charged off share accounts with SkyOne Federal Credit Union; and 3) You do not have a ChexSystems record with monies owed.
- Promotional bonus will be paid up to 30 days after the account has been open for 90 days and criteria has been met.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The advantage checking account has a $5 monthly fee that is waived if any of the following requirements are met:
- Be 25 years of age or under
- Be 65 years of age or over
- Have an active Visa® credit card, or line of credit, including HELOC (activity is defined as carrying a balance or making purchases each month that total $100 or more)
- Have a current consumer loan, including mortgage
- Have a minimum average daily share balance of $2,500 across all primary account holder’s accounts
- Make monthly aggregate deposits of $1,000 or more in SkyOne Advantage Checking Account
- Make a minimum of 10 debit card POS (point-of-sale) transactions
Early Account Termination Fee
There are no early termination fees to worry about
Our Verdict
There was a really easy $100 savings bonus recently, should be able to do this offer even if you’ve done that as the terms just state you can’t have had a checking account in the last 36 months. $100 is the standard checking bonus, but we have seen a $200 bonus in the past. We will add 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 finally got the bonus on this one after filing a cfcb complaint on them about them not properly statingthe terms which required DD of $1000 a month for however many months. Got a letter from someone stating I was eligible and they paid it out on 2/3. Probably was a pity bonus payout but will take it. Have since zero’d the balance and closed the account. #NeverSkyOneAgain Will never really look their way for an account bonus again…
tl;dr…pass on this one, not worth the measly $100
“Could not verify identity” from every correct answer to Chex and the usual personal information and drivers license. The stuff that real banks and credit unions use in one application to approve me essentially automatically. Like who’s been living at the same address for almost 20 years now? This was a HARD PULL which damages credit uselessly for years.
I joined last month only to be shut down a day or so later with no explanation (but assume Chex).
Sounds like they’re the new Teachers
Almost exactly like Teachers. I’m still getting emails (marketing stuff) from both of them despite them closing the accounts.
Same.
All datapoints from the recent offer seem to suggest extreme Chex sensitivity. Less than a handful of people out of dozens in the comments got approved, and half of those people had their accounts closed shortly after opening.
Recent application “Declined due to too many inquires”.
How many inquires do you have recently? e.g. in the last 3, 6, 12 months?
FJBiden
does ccfunding using amex works?
“To receive the $100 bonus, you must open an Advantage Checking account and setup direct deposit through our Direct Deposit Wizard portal”. Using their portal to set up DD can be the deal breaker part.
Yeah, this “Wizard portal” sounds both magical and problematic.
Edit: “…pay no attention to the man behind the curtain.”
That’s right. Even if you have real DD.
What if the wizard portal doesn’t support your company?
For example, if your employers don’t use the big payroll system such as Oracle but Gusto or Government/Social Security?
Point taken. But I never had any intention of using a real direct deposit 🙂