Offer at a glance
Maximum bonus amount: $800
Availability: Nationwide
Deposit requirement: $15,000 for every $160
Deposit length: 3/31/24 to 7/31/24
Hard/soft pull: Soft
ChexSystems:Unknown, mixed dp if sensitive
Credit card funding: $210 ($100 savings, $100 checking, $10 to join)
Monthly fees: None
Early account termination fee: Unknown
Household limit: None
Expiration date: 3/31/24
The Offer
Chartway is offering a savings bonus of up to $800. You receive $160 for every $15,000 deposited.
New money must remain in the Bonus Savings account from 3/31/24 to 7/31/24 to be eligible for the bonus offer
The Fine Print
Bonus offer is valid from 1/31/24 to 3/31/24. During the promotional period of 1/31/24 to 3/31/24, make deposits of up to $75,000 from an external account into your Bonus Savings account.
External funds are defined as any new money deposited into your account from an account not affiliated with Chartway Credit Union.
Funds transferred internally within Chartway accounts during the promotional period do not qualify for this offer.
Funds transferred from IRA accounts do not qualify for this offer.
New money must remain in the Bonus Savings account from 3/31/24 to 7/31/24 to be eligible for the bonus offer.
Your total average daily balance at Chartway must increase by the end of the promo period.
Upon meeting the offer qualifications, you will receive $160 for every $15,000, up to $75,000, deposited into your account before 3/31/24.
Your promotional bonus will be reported in your year-end form 1099-INT as taxable income.
Bonus will be credited to the account in the form of statement credit.
Your account must stay open and in good standing when bonus is credited to your account. Please allow up to 60 days for the bonus to appear in your account.
Chartway senior leadership positions (Vice President and above), Board of Directors, and volunteers are not eligible for this offer.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
If you keep the funds in the account for exactly four months it works out to be 5.73%. Given you’ll need the funds in there a few days either side of the requirements this isn’t worth considering due to the current high yield rates on other savings accounts.
Hat tip to reader Tikky
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