Update 9/7/24: Valid until 12/31/2024.
Offer at a glance
- Maximum bonus amount: $500
- Availability: TX only. You must (or be a family member of a person) live, work or worship in one of the following counties: Dallas, Tarrant, Henderson, Ellis (Midlothian), Johnson, Denton (Flower Mound), or Tom Green (San Angelo)
- Direct deposit required: Yes, $3,000-$10,000+
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $10, avoidable
- Early account termination fee: 180 days, bonus forfeit
- Household limit: None listed
- Expiration date: July 31, 2024
Contents
The Offer
- Texas Trust Credit Union is offering bonus of up to $500. Bonuses are as follows:
- With qualifying direct deposits totaling $3,000 within the first 90 days of account opening get $100
- With qualifying direct deposits totaling $5,000 within the first 90 days of account opening get $300
- With qualifying direct deposits totaling $10,000 within the first 90 days of account opening get $500
The Fine Print
- Account holder must make 2 or more qualifying direct deposits totaling a minimum of $10,000 or more within 90 days of account opening to receive $500. Only new Bonus Checking account holders are eligible for this offer. Incentive Reward tiers are based on total qualified direct deposit amount. Account holder must deposit $3,000 to $4,999.99 to earn the $100 bonus, $5,000 to $9,999.99 to earn the $300 bonus or $10,000 or more to earn the $500 bonus.
- Incentive Reward tiers cannot be combined. Eligible members will receive their incentive deposited into their Bonus Checking account within 30 business days after the 90-day period has lapsed. A qualifying direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer, or the government. Other electronic deposits or person-to-person payments, including but not limited to: Zelle, PayPal, cash, check, and ATM deposits are not considered a qualifying direct deposit for this offer. Accounts must be open and in good standing to receive incentive reward. Account must remain open for 180 days from account opening. Closing the account before the 180-day period may result in incentive reward being withdrawn. Incentive reward may be reported as interest earned on IRS form 1099-INT, and recipient is responsible for any applicable taxes. Offer limited to one member per account and may not be used for multiple bonus checking accounts. Offer and terms subject to change without notice. Offer expires July 31, 2024
- 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 a $10 monthly fee, this is automatically waived for the first two months.
- Eigible fee discounts include:
- Active debit card Use: $2 (Active Debit Card is 10 non-ATM Point-of-Sale transactions per month totaling at least $100);
- Online Communication and Banking: $2 (must be actively enrolled);
- Senior age 55+: $2 (discount applied beginning on month of primary member’s 55th birthday);
- Public Servant: $2 (Public Servant is any full time employee of a local public or private school district, or municipality including city, county, state, or federal. Must present a recent check stub to qualify or a letter of intent for new employees. Must also fulfill other membership requirements);
- Active Bill Pay Use: $1 (Active Bill Pay Usage is paying three or more bills through Texas Trust’s Online Bill Pay in the previous month);
- Membership 5+ Years: $1 (The 5+ Year Membership discount is applicable if today’s date is greater than five years from the day the member initially opened their Texas Trust share account);
- Direct Deposit: $1 (A direct deposit or mobile deposit [or any combination of the two] totaling $500 or more per month is required to earn the Direct Deposit discount.
Early Account Termination Fee
Bonus is forfeit if the account is closed within 180 days of account opening
Our Verdict
Keep this account fee free is basically impossible, but you do get the first two months fee free. You need to keep account open for 180 days so expect to pay 4-5 months of fees ($40-$50 but can be reduced somewhat). Unfortunately it’s also a hard pull and we don’t have data points on what works as a direct deposit. Might be worth it for the $300 and $500 tiers but too much hassle for the $100 tier.
Hat tip to reader Avi
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
View Comments (10)
Denied due to Chex after pending. No hard pull on credit reports.
I'm not sure they really care about Chex, because P1 and P2 both have a LOT of checking accounts over the past 2 years. And neither P1/P2 live in the counties specified; their online registration lets you say a family member is eligible. They did not check. Both accounts were opened without any issue. YMMV.
@guest_1909513 Did you have to talk to a banker to get approved? Or submit a selfie? Thinking of helping P2 apply, but she hates that stuff.
@guest_1909513 are they in a TX county?
Yes still in TX but not in the counties mentioned.
@2 The deal still shows at your link with an expiration date of 12/31/2024. I just received a mailer today about this deal.
Don't even worry applying if your Chex count is high. Recently I was in Dallas and applied in branch and got denied due to high chex count. They didn't budge even though I told I opened different CDs since different bank has different CD rates. They simply denied due to high chex.
Bye, Felicia.
They should rename TX as Dallas.
HP bye