Offer at a glance
- Maximum bonus amount: $200
- Availability: Must open account at Beaumont branch, must live within 10 miles of any branch to be eligible.
- Direct deposit required: Yes, two months of $500+
- Additional requirements: 2 x 10 signature based transactions of $5 each
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $50, 12 months
- Expiration date: None listed
The Offer
- Receive up to a $200 sign up bonus with PECU, broken down as follows:
- Receive $50: Go to Beaumont branch and open a new checking account with a debit card and direct deposit
- Receive an additional $50 when your second monthly direct deposit occurs within the first 90 days of your account opening
- Swipe your new debit card for at least 10 signature based transactions of at least $5 each within 30 days of the date of your initial purchase swipe
- Swipe your debit card for at least 10 additional signature based transactions of atleast $5 each during days 31-60 after the date of your initial purchase swipe
The Fine Print
- New checking account with direct deposit must remain open for 12 months or account owner is subject to a $50 account closing fee
- Offer only available here at the new PECU Round Rock branch. Offer is not available at any other PECU location
- Direct deposit must be an electronic deposit of your payroll check, pension or government benefits. Must complete two months of direct deposits of at least $500 each month within 90 days of account opening
- Current account holders are not eligible
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
They offer a free checking account with no monthly minimums. According to their fee schedule there is an early account termination fee of $10 if the account is closed within six months, you also need to keep the account open for twelve months with a direct deposit otherwise you’ll pay another $50 fee.
Our Verdict
Nice big bonus, but we don’t really know enough to say whether it’s a good or bad deal. If you have any experience with this bank then please share your experiences in the comments below.
Having to keep the direct deposit active for twelve months also really sucks.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- 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
Looked at the website because I live close to Beaumont and this article is actually combining 2 different promos. Both Round rock and Beaumont have their own individual in branch $200 promos. First part of the article is Beaumont specific but 2nd part is Round Rock specific with branch location.