Offer at a glance
Maximum bonus amount: $600
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: None
The Offer
SkyOne Federal Credit Union is offering a bonus of up to $600 when you use promo code EXTRA. Bonus is broken down as follows:
Open your new member Primary Savings account online using promo code EXTRA along with an Advantage Checking account with a combined total of $3,500 (new money) and get $100
Open a Sky-High Savings account online and deposit at least $1,000 per month for the first 90 days and get $200
Set up online banking and mobile deposit and make 1 qualifying mobile deposit per month for 60 days and get $100 (minimum deposits of $500+)
Make at least 10 debit card point of sale purchases ($25 minimum) per month within 90 days and get $100
Set up a minimum monthly recurring direct deposit (ACH) of $1,000 per month to Advantage Checking Account for six months and get $100
The Fine Print
When you open your new Primary Savings account with a minimum of $5 using promo code EXTRA and maintain at least a combined total of $3,500 between your Primary Savings and Advantage Checking account for 90 days, you are eligible for $100. Must use promotional code EXTRA at time of opening account online to enter into the promotion. Primary Savings rate is 0.05% Annual Percentage Yield (APY). A $500 balance is required to earn dividends. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Both Primary Savings and Advantage Checking rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. 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 bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period.
You will qualify for the $200 bonus on your Sky-High Savings when you deposit $1,000 or more each month to this account for a minimum of 90 days. The current rate is 1.00% APY provided a deposit of $1,000 or more is posted to your account each month. If there is no $1,000 deposit during the month, the dividend rate and APY will default to the Regular Savings account APY (currently 0.05% APY). The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period. for full terms and conditions of the SkyHigh Savings, visit https://www.skyone.org/save/saving/sky-high/
To qualify for the $100 online banking/mobile deposit bonus, you must make at least one mobile deposit to your SkyOne Savings or Advantage Checking account per month for 60 days with a minimum total deposit of $500 during that period. Primary Savings rate is 0.05% Annual Percentage Yield (APY). A $500 balance is required to earn dividends. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Both Primary Savings and Advantage Checking rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 60-day period.
To qualify for the $100 debit card purchases, you must make at least 10 debit card point of sale (in store) purchases ($25 minimum) per month for 90 days. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 90-day period.
To qualify for the $100 Direct Deposit bonus, you must have a monthly minimum cumulative $1,000 in recurring deposits into your Advantage Checking account for 6 consecutive months. 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. The Advantage Checking rate is 0.05% APY. A $2,500 balance is required to earn dividends. Advantage Checking rate is effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. Fees may reduce earnings. This bonus will be deposited to your Primary Savings account in your first statement cycle after the 6-month period.
You will qualify for the $100 SkyOne credit card bonus when you use your card to spend $1,000 within 30 days of receiving your new card. (“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, racetrack 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. Rates, terms and loan amounts are based on your credit worthiness and are subject to approval.) This bonus will be deposited to your Primary Savings Account in your first statement cycle after the 30-day period.
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
Bonus looks to be better than all of the previous bonuses and it’s always nice when you can get the bulk of the bonus without having to do a direct deposit. 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