Offer at a glance
Maximum bonus amount: $300 checking & $100 savings
Availability: Nationwide
Direct deposit required: Yes
Additional requirements: Use promo code
Hard/soft pull: Soft pull
ChexSystems: Unknown, extremely sensitive according to some datapoints but others say not sensitive so YMMV
Credit card funding: Can fund up to $500 with a credit card
Monthly fees: $5, avoidable
Early account termination fee: None
Household limit: None listed
Expiration date: July 14, 2023
The Offer
SkyOne is offering bonuses of up to $700 when you use promo code SUMMER:
Get $100 when you open a Savings Account
Must deposit $5+ at account opening
Must maintain a $1,000 balance for seven months
Get $300 when you open an Advantage Checking Account and within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for seven consecutive cycles
Open our new Platinum Elite Visa® Signature Card and earn up to 30,000 bonus points (that’s $300!) (this is the standard bonus)
The Fine Print
$700 Bonus Offer valid from June 14, 2023 to July 14, 2023, is subject to change without notice and may end at any time. Exclusions may apply. SkyOne membership is required. This offer is intended for new members only. To receive the entire $700 bonus, you must complete all of the following:
Get $100: Open an account online from June 14, 2023 to July 14, 2023, use promo code SUMMER and deposit the minimum opening balance amount of $5 into a Primary Savings Account, and maintain a $1000 balance for seven (7) months. This offer is intended for new members only. You are not eligible for this offer if you are a current owner of a SkyOne savings account or if you have closed an account within the last 12 months. Savings Rate is 0.05% APY. APY=Annual Percentage Yield. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. A $500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply.
Get $300: Open a new SkyOne Advantage checking account online from June 14, 2023 to July 14, 2023, using promo code SUMMER within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for seven (7) consecutive statement cycles into your new checking account during the qualification period. A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account. Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify. Advantage Checking earns dividends of .05% APY if the balance requirement is met. APY=Annual Percentage Yield. Rates are effective as of the last dividendand declaration date. The rate is variable and may change after the account is opened. A $2,500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply. This offer is intended for new checking accounts only. Offer is not available to existing SkyOne checking account holders or those whose accounts have been closed within the last 12 months.
30,000 Bonus Points Offer: To qualify and receive your bonus, you must make Purchases totaling $3,000 or more during the first 3 months from account opening. (“Purchases” do not include balance transfers, cash advances, travelers’ checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, race track wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable.) After qualifying, please allow 6 to 8 weeks for bonus points to post to your rewards account. To be eligible for this bonus offer, the account must be open and not in default at the time of fulfillment.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The advantage checking account has a $5 monthly fee that is waived if any of the following requirements are met:
Be 25 years of age or under
Be 65 years of age or over
Have an active Visa® credit card, or line of credit, including HELOC (activity is defined as carrying a balance or making purchases each month that total $100 or more)
Have a current consumer loan, including mortgage
Have a minimum average daily share balance of $2,500 across all primary account holder’s accounts
Make monthly aggregate deposits of $1,000 or more in SkyOne Advantage Checking Account
Make a minimum of 10 debit card POS (point-of-sale) transactions
Early Account Termination Fee
There are no early termination fees to worry about
Our Verdict
Requirements are seven months instead of six compared to the last bonus. This is the biggest checking bonus we have seen from SkyOne so will be worth doing for a lot of people, others will find the direct deposit requirement too hard to do for seven months. This will be added to the best bank bonus page.
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