Wings Financial Credit Union $200 Checking Bonus, Direct Deposit Not Required + $200 Savings

Update 11/8/22: Deal is back, there is also a $200 CD bonus available.

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must live or work in an eligible eligible Minnesota or Wisconsin county. Available nationwide with a $5 donation to their foundation, as the option is available on the online application
• Direct deposit required: Optional
• Additional requirements: eStatements & use promo code
• Hard/soft pull: Hard pull
• ChexSystems: Yes
• Credit card funding: Can fund up to $500 per account
• Monthly fees: None
• Early account termination fee: None listed
• Household limit: None
• Expiration date: July 31^st, 2022 December 31, 2022

The Offer

Direct link to offer

• Wings Financial is offering a $200 bonus when you open a new checking account and complete the following requirements:
  • Use promo code YEARENDBONUS
  • Establish a recurring direct deposit of $600 or more to your new checking account; or maintain an average daily balance of at least $2,000 in your account.
  • Five net (5) debit card transactions of $25+
  • Enroll in eStatements
• You can also get an additional $200 savings bonus when you complete all of the checking requirements and:
  • Open a new CD
  • Get a $100 bonus with a deposit of $10,000 – $24,999 and a 12 month term
  • Get a $200 bonus with a deposit of $25,000+ and a 12 month term

 

The Fine Print

• One offer per person. Must be 18 years or older. Account must be opened between 7/1–7/31/22. Membership with a Share Savings account & $5 minimum opening deposit required and must be opened at the same time as checking account.
• New members and new recipients only: 1) Cannot have been a previous member (owner of a Primary Share account) of Wings Financial Credit Union in the last 12 months; 2) Cannot have previously received a new account bonus offer.
• Checking Account Bonus Requirements: Each of the following must be completed using the same checking account within 60 days of account opening: 1) Recurring ACH direct deposit(s) of at least $600 total or maintain an average daily balance of $2,0001; 2) eDocuments enrollment; 3) At least 5 net PIN or signature-based debit card transactions over $25. If requirements are met, bonus will be paid on 10/1/22 as a deposit to the Wings checking account; account must be in good standing (positive balance for the last 30 days) and have active recurring direct deposit and eDocuments enrollment at time of the promotional payment (10/1/22). Only applicable to personal checking accounts; not available for business, estate, ward, benefit or trust account types.
• Must use promo code “July22Bonus” at account opening. Current Annual Percentage Yield (APY) is 0.01% for First Class Checking. High-Yield Checking APY is 1.76% for balances up to $25,000 and 0.01%–1.76% for amounts over $25,000 if requirements are met2. If requirements are not met, the APY is 0.01%. Rates are variable and subject to change.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

First class checking account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find an early account termination in the fee schedule

$50 Referral Bonus

There is also a $50 referral bonus for both parties. Last time Wings Financial offered a bonus the referral bonus and the main bonus stacked. Do not share your referrals in the comments below, you can share them in this linked posted instead.

Our Verdict

We’ve seen a $300 + $50 bonus in the past, but that required a direct deposit. This is a smaller bonus but without the direct deposit so some people might prefer this bonus. Keep in mind it is a hard pull as well, but we will still be adding this to our list of the best checking bonuses.

The best CD is 14 months, this offers a 3.25% rate. The bonus is relatively small though and with rates rising I don’t think it’s worth doing.

Hat tip to reader SDubbs

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