Deal has ended, view more bank account bonuses by clicking here.
Update 9/4/24: Opening this requires a tradeline.
Offer at a glance
- Maximum bonus amount:Â $200
- Availability:Â Nationwide
- Direct deposit required:Â Yes, $500+
- Additional requirements:Â None
- Hard/soft pull:Â Soft
- ChexSystems: Unknown
- Credit card funding:Â None
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:None listed
- Expiration date:Â Sept. 30, 2024
Contents
The Offer
- Step App is offering a $200 bonus when you open a new checking account and complete the following requirements:
- Receive a direct deposit of $500+ and receive a $200 bonus
- Receive a direct deposit of $150-$499 and receive a $100 bonus
The Fine Print
- Offer available to new users only. To receive the bonus: 1) Open a new Step account, which is subject to approval on or before 11:59 pm PT Sept. 30, 2024; and 2) Have a single direct deposit made to this account within 30 days of account opening. Direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments are not considered a direct deposit. Direct deposit $149 and under, not eligible for bonus. If between $150-$499, eligible for $100. If $500 or more, eligible for $200.
- Max reward up to $200 based on direct deposit amount.
- Funds will be deposited in your Step Account, if open and in good standing, within 30 days following the eligible direct deposit.
- User must have made a minimum of $20 in settled card purchases within 30 days of account opening to receive payout.
- Offer is non-transferable, cannot be combined with other offers and is subject to change at any time.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
Step is a bank account geared toward younger customers building credit and is available to anyone of all ages. Previously there was a $100 bonus via Swagbucks, that is no longer being offered but this $200 bonus is significantly better anyway. Banking services provided by Evolve Bank & Trust so that might be a concern for some readers. Bonus says non transferable, but looks to be open to everybody? I suspect this bonus won’t last long so if you’re interested sign up sooner than later. Will add this to our list of the best bank bonuses.
Hat tip to reader CB
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
