Deal has ended view more bank account bonuses by clicking here.
Update 7/15/23: Extended until July 23.
Offer at a glance
- Maximum bonus amount: $300 checking & $100 savings
- 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: July 14, 2023
Contents
The Offer
- SkyOne is offering bonuses of up to $700 when you use promo code SUMMER:
- Get $100 when you open a Savings Account
- Must deposit $5+ at account opening
- Must maintain a $1,000 balance for seven months
- Get $300 when you open an Advantage Checking Account and within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for seven consecutive cycles
- Open our new Platinum Elite Visa® Signature Card and earn up to 30,000 bonus points (that’s $300!) (this is the standard bonus)
- Get $100 when you open a Savings Account
The Fine Print
- $700 Bonus Offer valid from June 14, 2023 to July 14, 2023, is subject to change without notice and may end at any time. Exclusions may apply. SkyOne membership is required. This offer is intended for new members only. To receive the entire $700 bonus, you must complete all of the following:
- Get $100: Open an account online from June 14, 2023 to July 14, 2023, use promo code SUMMER and deposit the minimum opening balance amount of $5 into a Primary Savings Account, and maintain a $1000 balance for seven (7) months. This offer is intended for new members only. You are not eligible for this offer if you are a current owner of a SkyOne savings account or if you have closed an account within the last 12 months. Savings Rate is 0.05% APY. APY=Annual Percentage Yield. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. A $500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply.
- Get $300: Open a new SkyOne Advantage checking account online from June 14, 2023 to July 14, 2023, using promo code SUMMER within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for seven (7) consecutive statement cycles into your new checking account during the qualification period. A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account. Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify. Advantage Checking earns dividends of .05% APY if the balance requirement is met. APY=Annual Percentage Yield. Rates are effective as of the last dividendand declaration date. The rate is variable and may change after the account is opened. A $2,500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply. This offer is intended for new checking accounts only. Offer is not available to existing SkyOne checking account holders or those whose accounts have been closed within the last 12 months.
- 30,000 Bonus Points Offer: To qualify and receive your bonus, you must make Purchases totaling $3,000 or more during the first 3 months from account opening. (“Purchases” do not include balance transfers, cash advances, travelers’ checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, race track wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable.) After qualifying, please allow 6 to 8 weeks for bonus points to post to your rewards account. To be eligible for this bonus offer, the account must be open and not in default at the time of fulfillment.
- 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
Requirements are seven months instead of six compared to the last bonus. This is the biggest checking bonus we have seen from SkyOne so will be worth doing for a lot of people, others will find the direct deposit requirement too hard to do for seven months. This will be added to the best bank bonus page.
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
DP:
7/13/2023 I opened a checking account and funded it with $500 using Chase credit card.
Then I did a $500 direct deposit from payroll into that checking account every other week through the present day. I withdrew each $500 deposit a couple of days after they posted through their automatic recurring transactions function.
7/13/2023 Opened savings account.
7/17/2023 I deposited $1000 into the savings account and left it there through the present day.
3/14/2024 I sent a secure message inquiring about my bonus. It had been over 8 months since the opening of the accounts.
3/29/2024 I never received a reply to my secure message, so I did a chat with a CSR. The CSR confirmed that I had met all the requirements for the bonuses. She said that she would see to it that the bonus goes out the following week with the next batch of bonuses.
4/11/2024 The $400 combined bonus was deposited today into my savings account.
Just a FYI, i received my 1099 for the promo from late Dec 2022, which was $300/100. They duplicated the amounts on my 1099, so i had to call and have them research and send a new one
I was approved with high Chex numbers and had just opened some Chase accounts two days before, too. Was approx 4/3 (most of those made in the last six weeks or so), 6/6, 14/12. I live in MI. Maybe location plays into it?
Hmmm. Opened this before reading all of the comments on bonuses not going through. Opened both savings and checking today, 7/15/23. I guess I’ll be the data point that I want to see. As soon as I can figure out what the account number is (very well hidden), I’ll set up a real DD. $100 savings bonus requires parking $1000 for 7 months, ugh. Will update you all with result but tbh wondering if it’s even worth the effort despite a successful opening.
In your online account, once you click your checking account to get to the Transaction History view, you will see an MICR account number. That’s the number you should use for DD and ACH transfers.
There have been positive DPs of receiving the bonus. I opened my account in December when the bonus was $600, and I am still working towards fulfilling the requirements. The Chex inquiry was already done, so make it count.
I haven’t read all the comments, but is this a hard case to get/qualify for a bonus if you are trying to fake DD?
The long wait (7-months of DD required) certainly increases the opportunity cost if a fake DD does not work. The recent positive DPs all used real DDs (but there were no negative DPs due to fake DDs): https://www.doctorofcredit.com/skyone-federal-credit-union-300-checking-100-savings-bonus/.
There were a lot of successful DPs using fake DDs in a previous promotion (search for “$125” there): https://www.doctorofcredit.com/skyone-federal-credit-union-200-checking-bonus/
Sam
Sharing my DP: 7 months later, no bonus paid yet for either account. I reached out via online message, rep confirmed that bonus code had been applied to my account for both promos.
Savings – should pay out by end of March, all requirements have been met as of 3/3
Checking – Was told on 2/13 that this requirement had been completed, and should pay out by end of Feb. No bonus – reached out on 3/1, was told that this was being escalated and to expect a response by the end of next week.
I’ll update this comment with responses, but I’m surprised at the amount of legwork required.
From the secure messages:
“Hey there! We have not forgotten about you, Leadership is still working on review and payout of bonus deposits and your account is still pending. I will be in touch with you here for weekly updates!”
EDIT: Just received $400 to my checking account today – since I applied for a total of $400 in bonuses, I’m thinking this has officially made me whole. It’s been a long road and a lot of manual follow up, but both of these bonuses have officially paid out.
Extended to July 23.
William Charles
Denied, yet again. I got the “Important Information about Your SkyOne Application” email the same day as the application.
Too many inquiries.
Chex numbers (inquiries/months): 0/1, 0/2, 3/3, 7/6, 17/12
That’s about as good as it gets for me, so I am done trying. Tried in 2020, and 2022. My P2 still has her account and can help support those who have a pristine Chex report.
The application does have some tricky identification questions, like what year I opened my Wells Fargo CC, when I have more than one, and they were opened at different times. Good idea to have CreditKarma or similar up to get your own dates.
No hard pull – confirmed Chex pull, same day.
How?
I have been denied 3 times too, same years as you. I don’t plan on trying again either unless I forget next time this comes up……….Ha!
Too many Inquiries
rejected
Is this because of chex?
Yes, SkyOne is known to be a bit chex sensitive.
please help someone who may well be losing his mind; I swear there was a referral page but I cannot find it after repeated site searches and clicking. is there in fact such a thing or, in the words of fivecrown “just a stupid dream i had / once”
i don’t think there ever was one, but if you’re looking for one i put it in the web link for my username
Rejected – too many inquiries
Number of ChexSystems inquiries when applying?
Rejected – Too many Inquiries