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Offer at a glance
- Maximum bonus amount: WI only
- Availability: WI only
- Direct deposit required: Yes, $250+ per statement cycle
- Additional requirements:
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5, avoidable
- Early account termination fee: Account must be kept open for 90 days
- Household limit: None listed
- Expiration date: December 31st, 2020
Contents
The Offer
- PyraMax Bank is offering a bonus of $125 when you open a new checking account and complete the following requirements:
- Use promo code 125FREE
- Have a direct deposit of $250 or more in each statement cycle (for 90 days)
The Fine Print
- Personal Checking account offer available through 12/31/2020. Offer is available to eligible individuals without a PyraMax Bank checking account in the past 90 days. Minimum balance to open account is $25.
- Account must remain open for 90 days, must have a direct deposit of $250 or more in each statement cycle and meet the account conditions, after which time the $125 Bonus will be deposited directly into the Checking account.
- Not available for HSA checking accounts. Limit one gift per household.
- You must mention this ad to receive $125 offer or enter Promo Code 125FREE at online account opening.
- Receipt of gift may have tax consequences.
- Employees of PyraMax Bank and their immediate family are not eligible for this promotion.
- This offer may not be combined with other offers or specials and may be withdrawn at any time without notice.
Avoiding Fees
Monthly Fees
Simply Checking seems to be the easiest account to keep fee free. It has a $5 monthly fee that is waived if you do three of the following:
- Receive a monthly direct deposit of $100 or greater
- Enroll in e-statements
- Maintain a $500 minimum balance in this account
- Maintain a $1,000 minimum balance in combined PyraMax bank deposits
- Perform 7 check card transactions
- Perform one online bill payment transaction
Early Account Termination Fee
Account needs to be kept open for at least 90 days
Our Verdict
PyraMax has offered a $100 bonus in the past, but that didn’t require a direct deposit but it did need to be opened in branch. This is a small bonus with a direct deposit requirement and we don’t know if it’s a hard or soft pull so probably not that attractive of an offer for most people.
Hat tip to reader Tony L
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
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- 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?
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