Offer at a glance
Maximum bonus amount: $300
Availability: MN
Direct deposit required: No
Additional requirements: 12 debit card purchases, eStatements
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: Six months, $300
Household limit: None
Expiration date: None
The Offer
Mid Minnesota Federal Credit Union is offering a $300 checking bonus when you open a new checking account and complete the following requirements:
One ACH debit or credit
12 debit card purchases
Receive eStatements
The Fine Print
The $300 bonus for a new Kasasa checking account will be earned after 60 days if account qualifiers are met.
The $300 bonus will be paid within 30 days of meeting the requirement (approximately 90 days after opening the account).
No minimum balance is required to earn the bonus or open a Kasasa account.
The $300 bonus is reportable income for which you will receive a tax document.
A $300 penalty will be imposed if the checking account is closed in the first six months.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Early Account Termination Fee
Account needs to be kept open for 6 months otherwise bonus is forfeit.
Our Verdict
Requirements seem easy to meet but we need to know if it’s a hard or soft pull first.
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?
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Complete List Of Ways To Close Bank Accounts At Each Bank
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