Offer at a glance
- Maximum bonus amount:Â $150
- Availability:UT
- Direct deposit required:Â Yes, $300+
- Additional requirements:Â None
- Hard/soft pull:Â UnknownÂ
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â None listed
- Household limit:Â None
- Expiration date:Â None listed
Contents
The Offer
- Hercules First Federal Credit Union is offering a $150 bonus when you open a new checking account and complete the following requirements:
- Set up a direct deposit of $300 or more
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Regular checking has no monthly fees to worry about.
Early Account Termination Fee
I couldn’t find any EATF in the fee schedule.
Our Verdict
Don’t think the gold tier is required based on the terms, but it’s a bit hard to work out. If anybody goes for it please share your experiences below.
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
Applied online and was sent an email next day to come into branch to complete signup. Went in and signed up no problem after showing my id and paying the opening deposit.
A few things to note:
1. They tried to sign me up for Gold Tier checking by default and I had to tell them I wanted regular checking instead. Confirmed the bonus is attached to opening any checking account.
2. The opening deposit is cash only. I had to run to the ATM to complete the signup.
3. Confirmed it is a soft pull during the opening.
4. Rep in branch said it was a $300 bonus but I think he was confusing the bonus amount with the Direct Deposit amount.
Applied with a legitimate UT address yesterday. Just got an email this morning to come into a branch to verify identity and sign a membership agreement to finalize account opening. No hard pull on credit (at least not yet).
Boo. Their locations are not convenient to me. For $150 this is a no go if it can’t all be done online.
That’s what I’m thinking too and I’m only about 20 minutes away from their closest one.
Applied with a legitimate UT address yesterday. Just got an email this morning to come into a branch to verify identity and sign a membership agreement to finalize account opening. No hard pull on credit (at least not yet).