Deal has ended, view more bank account bonuses by clicking here.
Update 1/22/22: Deal is back and valid until April 15, 2022.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Must reside in Virginia, Maryland or North Carolina
- Direct deposit required: Direct deposits of $2,000+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Yes, mixed dp on being sensitive
- Credit card funding: Up to $1,500
- Monthly fees: None
- Early account termination fee: 180 days, $25
- Expiration date: November 1, 2021
Contents
The Offer
- Atlantic Union Bank is offering a bonus of of up to $250. Need to complete the following requirements for the first three months:
- Earn $100 when you make a recurring qualified direct deposit totaling $2,000 or more each month.
- Earn $100 when you make at least 10 qualifying debit cards transactions each month
- Do both and earn $250
The Fine Print
- Cash Bonus Terms and Conditions: (#1) open a new Free Checking, Loyalty Checking, Preferred Checking, or ThankU Checking account by November 1st, 2021, AND (#2) set up a recurring qualified direct deposit totaling $2,000 or more each month for the three consecutive full statement cycles immediately following the account opening date AND (#3) conduct at least 10 point-of-sale debit card transactions (ATM transactions excluded) each month for the three consecutive full statement cycles (months) immediately following the account opening date. If you satisfy all of the above requirements, you will receive a $250 cash bonus. Satisfy (#1) AND either (#2) or (#3), get a $100 cash bonus.
- Offer is not valid if you have had an Atlantic Union Bank checking account, or have received any Atlantic Union Bank cash bonus offer within the last 12 months. Limit one cash bonus offer per new customer and account. Bonus may not be combined with any other offers. Atlantic Union Bank reserves the right to alter the terms of the promotion or end it at any time. All accounts are subject to approval.
- Cash Bonus Payment: The cash bonus will be deposited in your account within 30 calendar days after all terms of the offer are met. Your checking account must be open and in good standing to receive cash bonus award. Cash bonus value will be reported to IRS as taxable income.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees.
Early Account Termination Fee
According to the fee schedule you’ll be charged an early account termination fee of $25 if the account is closed within 180 days of opening.
Our Verdict
They have offered as high as $600 in the past, but that required a huge deposit and was more difficult to keep the account fee free. I think this new bonus is better and worth doing if eligible. We will add it to the best checking bonus page.
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
Is there a minimum to keep account open after bonus is paid out?
CS pushes counted for me. Posted prior to month 3 requirements also.
Does anyone get the tax form?
No tax form for me. I looked at my statement, and it reflects as $0 interest earned in 2021.
The $250 was posted as “Cash Bonus Credit” in December 2021, but not reflected as interest earned.
I checked with the CS, and CS said they issued a 1099-int for the $250, but I never received it in the mail
I received a 1099-INT in the mail on March 14.
Live in Chapel Hill, NC.
My online application was denied and I was asked to visit a branch to do ID verification. The branch in Raleigh is going to be closed in March 1st and the branch in Raleigh does not accept new appointments for new account opening. I planned to visit a branch in VA to open an account. The banker called me and I was told I could open the account via zoom instead of driving 2 hours to visit the branch in person. At the last step, my account was denied due to Chex. The banker told me they do chex check for every new account opening.
Chex denial, 2/12
Opened mid 10/2021, funded with 1.5k w/ Chase Ink (application was auto approved)
DD w/ Cap1 for 3 months, but messed up debit transactions (forgot it’s 10 per month)
Bonus $100 posted on 2/1 as “Cash Bonus Credit”
Apparently I did met the bonus requirement for the full $250 (even though I feel like I really didn’t). Another bonus of $150 posted as “Cash Bonus Credit” on 2/8.
Opened in mid 10/2021
first 5 debit transactions happened in mid 11/2021
then another 10 in mid 12/2021
then another 10 at the end of 1/2022
So not sure what happened. Even if ACH pull were counted as debit transaction, there was only 3 of that in 11/2021
Mine paid out before I finished all the debits… so, apparently, 10 x 3 months was not required. No telling what the low end was though.
Did anyone else have issues with their initial $25.00 funding?
I connected this account to another via Plaid, and initiated a $25.00 transfer. While it did appear to connect, my screen instantly went to “Thank you for your application. We are reviewing your information, and we’ll contact you shortly to let you know about next steps.”
My account is open and active. It’s been 5 business days, and the $25.00 hasn’t been pulled from the connected account/isn’t showing as pending in this account. Hoping this doesn’t impact the bonus.
I found this a pretty painless bonus, which paid out a little ahead of schedule – the third month’s DDs were not quite finished. By the way
William Charles – the fee schedule link in the ETF section above is no good. After searching for one on their site this month to no avail, I asked them in a secure message to send me a copy, and they have been unable to come up with one. They did confirm in their reply that they charge a $25 ETF.
If you opened the account online, they email you a batch of PDF files. In there is the Personal_Fee_Schedule.PDF. It lists, under Other Fees:
Early Account Closing (Within 180 Days of Opening) ……………. $25.00
It’s available online here: https://www.atlanticunionbank.com/atlanticunionbank/media/Documents/personal_fee_schedule.pdf
However, there are DP’s of them not enforcing the ETF, at least if closed with a zero balance. This is pretty common – reps don’t care/notice and just close the account, and the system is not programmed to catch it. YMMV, and that’s the chance you take. I usually wait it out, but the clock is ticking because the next bonus cannot happen until 12 months after the account is closed.
Can anyone confirm if Discover savings would trigger DD? I see below that Discover checking did – does this bode well?
The same bank should work… checking and savings come from the same bank. Push from Discover login.
Coded as P2P.
What something shows up as and what it does can be two different things.
Thank you for your application. We are reviewing your information, and we’ll contact you shortly to let you know about next steps
Throughout the application, I didn’t see any step of funding (bank or credit card).
me neither
And, if you do see it, I believe it says Debit, but Credit has worked in the past.
Thanks! It seems mine is not auto approved. The final page said that they need to manual review it.
Yes. When auto-approved, they give you the account number.
I don’t recall for manual approval if you will get a chance to fund or not, but hopefully, you get to find out and it’s not a denial. They are known to deny for Chex, but not as bad as some banks.
I was asked to provide a photo id with the address, then my application was approved manually. But … no credit/debit funding option …, only bank transfer or DD, bummer 🙁
Thanks. I received the email that “Just bring two forms of acceptable identification to any Atlantic Union Bank branch”.
Well, almost all the branches are in VA. I’m in NC. Anyway, bye then.
Ahhh, that brings back memories. Yes, you have to show ID… they enable your account, and then you have to fund it the old-fashioned way at your convenience (no CC funding because the application is complete). I live a few miles from a branch.