Deal has ended, view more bank account bonuses by clicking here.
Update 10/11/23: Deal has been extended to March 14, 2024 and is now $200 instead of $100. Military pay isn’t required this time either.
Offer at a glance
- Maximum bonus amount:Ā $200
- Availability:Ā Nationwide but restricted membership
- Direct deposit required:Ā Yes, $100+
- Additional requirements:Ā No
- Hard/soft pull:Ā Unknown
- ChexSystems: Unknown
- Credit card funding:Ā Can fund up to $100 with a credit card
- Monthly fees:Ā None
- Early account termination fee:Ā None
- Household limit:Ā None listed
- Expiration date:Ā October 10, 2023
Contents
The Offer
- USAA is offering a $200 bonus when you open classic checking account with qualifying military pay of $100+ within the first 180 days of account opening
The Fine Print
- Eligibility: Offer available for new USAA Classic Checking accounts from USAA Federal Savings Bank, also known as FSB, opened between May 5, 2023, and October 10, 2023. The account is not eligible for this offer if: 1) the primary account holder currently has, or has had, ownership of a USAA FSB checking account in the 12 months prior to account opening. The primary account holder is the account holder whose U.S. taxpayer identification number is used for tax reporting purposes on the new account.; or 2) the account is titled as a trust account, estate, Uniform Transfer to Minor Account, also known as UTMA, or other fiduciary account. The new USAA Classic Checking account must remain open and in good standing through the time we attempt to deposit any earned bonus payment. Offer may be discontinued or changed at any time without notice.
- Bonus Requirements and Payment: To qualify for the bonus, open a new USAA Classic Checking account between May 5, 2023, and October 10, 2023, and receive a qualifying direct deposit into the new USAA Classic Checking account within 180 calendar days after account opening. A qualifying direct deposit is a single Automated Clearing House, also known as ACH, electronic deposit of $100 or more of your United States military salary pay, retirement pay, military disability pay, or annuity pay for a surviving beneficiary from Defense Finance Account Service, also known as DFAS, or the U.S. Department of the Treasury, that posts to your new USAA Classic Checking account. Civilians receiving pay from DFAS are excluded. Special payments are not eligible; this includes but is not limited to education and travel benefits related to military service. We will attempt to deposit the $100 bonus into your new USAA Classic Checking account within 60 days after the first qualifying direct deposit. You are responsible for any federal, state, or local taxes due on the bonus and we will report the bonus as income to the tax authorities if required by applicable law. Consult your tax advisor.
- 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 to worry about.
Early Account Termination Fee
There is no EATF.
Our Verdict
Requirements seem relatively easy to meet if you’re eligible to be a USAA member.
Hat tip to Bockrr
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- A Beginners Guide To Bank Account Bonuses
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- PSA: Donāt Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Donāt 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 ā We Wonāt Be Using Them
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- Bank Bonus Posting Times
Ally push worked for me. Pushed March 2024, paid April 2024
8/02/2022- account opened
9/02/2022- deposited 1 MO for $150
9/19/2022- withdrew balance via zelle
12/29/2022- deposited MO for 500 and withdrew $200 via zelle immediately
12/31/2022- got email saying hold had been removed from funds, but account balance showed as unavaliable
1/3/2023- got email saying “notice of your deposit account closure”
2/24/2023- closing check mailed
3/4/2023- last statement closed
3/31/2023- CFPB complaint filed, I was removed from blacklist
3/4/2024- account reopened
3/5/2024- 102 DD from chase biz
3/19/2024- bonus posted
My first account churn
Account approved with chex frozen.
2/1 – enrolled
2/7 – discover push 100
2/22 – fidelity push 100
2/22 – 200 bonus and -48 for tax for some reason
Donāt know if I should call about the tax part or just wait to get it on my return
2/2: Opened
2/5: Account funded with a $25 ACH from Wealthfront
2/12: $250 DP
2/22: Bonus received
02/01: Affirm Savings push
02/06: Fidelity push
02/12: Discover push
02/14: Apple Savings push
02/21: Chase (biz) push
02/22: Promo
Has anyone tried a SoFi push to trigger the bonus?
USAA is not clear on this offering. I have called at least 5 times to verify that I would be eligible. This is the first account I have opened with USAA as a primary. I have spoken to agents at least 6 times and today is the first time that I was told that I would not be eligible for the bonus, because I am a secondary on another account there. I am disappointed because I called twice prior to opening the account and have called every month since I opened it to find out when my account would receive the bonus. I believe I was mislead by the agents when I opening the account and it was a big waste of my time.
You weren’t eligible… “The account is not eligible for this offer if: 1) the primary account holder of the newly-opened account currently has, or has had, ownership of a USAA FSB checking account in the 12 months prior to new account opening…”
My bonus posted on 1/23. Same day, a $48 withdrawal was posted to my account labeled “Federal Tax”. Any insight on this??? Never seen before with a bank bonus
12/19 opened
12/27 and 1/10 $100 DD from payroll.
1/23 Bonus posted
Contact the bank. Probably you chose “subject to withholding” when opening your account. I assume you have not been notified by the IRS that you ARE subject to withholding.
Also got a $48 dollar withdrawal what did you end up doing?
I called them and they sent me a new w-9. she couldn’t confirm whether or not I checked subject to withholding, but I can almost guarantee I did not check it, as I’ve churned accounts for quite some time. Once the paperwork gets updated, I’ll go about seeking them to get the $48 back to me. Did you check subject to withholding?
It’s unlikely they are going to refund that, as it’s already been sent to the IRS.
You would be better off just properly documenting it on your taxes. It’s just one extra number entry when you input the 1099-INT. I had this happen a couple of years ago with Porte Fintech and it’s so much easier to just claim it.
sharkey user193838
ahh good to know, thanks!
1/3/2024: $100 push from Ally Spending (checking) account
1/9/2024: $100 pull back to Ally Spending account
1/23/2024: $200 bonus posted