Offer at a glance
Interest Rate: 8% APY
Minimum Balance: None
Maximum Balance: $20,000
Availability: If you live, work, worship or attend school in the eleven counties of Bradford, Centre, Clinton, Columbia, Lycoming, Montour, Northumberland, Potter, Sullivan, Tioga, or Union
Direct deposit required: Yes, no minimum
Additional requirements: See below
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Insured: NCUA
The Offer
Horizon Federal Credit Union is offering 8% APY on balances up to $20,000 when you meet the following requirements:
Register for Direct Deposit.
Enroll in E-Statements.
Conduct 15 or more Debit Card purchases each month.
The Fine Print
Dividends earned will remain in your Advantage Checking account. Monthly requirements: To meet the minimum qualification requirements, you must: 1) make fifteen (15) signature debit card purchases of a minimum $5 transaction amount that post and settle to your account; 2) have at least one (1) ACH (Automated Clearing House) debit or direct deposit post and settle to your account; and 3) be enrolled in and receive eStatements.
The monthly qualification cycle is defined as a period beginning on the first day of the current month’s cycle and ending on the last day of that same month’s statement cycle.
Only one Advantage Checking account is allowed per primary member’s social security number.
ATM-processed transactions do not qualify as debit card transactions, and ATM fee refund structure does not apply.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees.
Our Verdict
Nice to see a rewards checking account with an actual high rate compared to basic savings rates.
Hat tip to noob_bonus