Update 10/7/23: Deal is back and valid until November 10, 2023
Update 4/8/23: Extended 5/13/2023. Hat tip to reader Woody
Offer at a glance
Maximum bonus amount: $200
Availability:You’re eligible for membership if you live, work, worship, or attend school in Hartford, Middlesex, Tolland, or New Haven County in Connecticut, and Hampden County, Massachusetts.
Direct deposit required: Yes, $500+
Additional requirements: None
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: $15, 180 days
Household limit: None
Expiration date: August 31st, 2020 November 7th, 2020 March 19, 2022 10/22/22
The Offer
American Eagle Financial Credit Union is offering a bonus of $200 when you open a new checking account and complete the following requirements:
Direct deposit of $500+ required within 60 days of account opening
Sign up for eStatements within 60 days of account opening
The Fine Print
Excludes the My Basic Checking and My First Checking accounts.
Promotion valid for new personal Checking accounts through August 31, 2020.
The member must not have an existing open Checking account with American Eagle Financial Credit Union (AEFCU) or have had a Checking account with AEFCU in the last 365 days.
$5 Savings account required for AEFCU membership.
The account holder will be eligible for a $100 payment for opening an eligible Checking account during the promotional period, and then signing up for eStatements and making ten (10) debit transactions (signature or pin-based) of $10 dollars or more within sixty (60) days
. Account must be open and in good standing at time of payout to obtain cash bonus.
Limit of one $100.00 payment per member.
Please allow up to 120 days from account opening to receive the bonus deposit into your share Savings account.
Amount of deposit will be reported to the IRS and member is responsible for any applicable taxes.
Accounts closed within 180 days of opening will be charged a fee of $15.00.
This offer can be withdrawn at any time without notice.
Ask for details.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
My Checking account has no monthly fees to worry about.
Early Account Termination Fee
Account needs to be kept open for 180 days otherwise a $15 fee will be charged.
Our Verdict
Last time it was offered a direct deposit wasn’t required but 10 x $10 debit card transactions were. Some people might prefer this offer but most would rather the no direct deposit option. We will add this to the best bank bonus page.
Hat tip to reader Brenden F
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
Post history:
Update 2/25/23: Deal is back and valid until 3/4/23.
Update 9/10/22: Deal has extended until October 22, 2022
Update 8/29/22: Extended until Sep 6
Update 7/18/22: Deal is back and valid until August 20th
Update 3/6/22: Deal is back, this time $200 instead of $150.
Update 6/23/21: Deal is back and valid until July 24th.
Update 1/23/21: Bonus is now $150. Direct deposit is now $500 instead of $250.
Update 10/4/20: Deal is back and valid until November 7th, 2020. Now requires a direct deposit