[Expired] [CA only] $150 Tech CU Checking Promotion

This bonus has expired and is no longer available. Click here for current Tech CU promotions or here for the best checking promotions.

Update: Offer now restricted to Californian residents

Extended till August.

Update: Tech CU have added the following fine print to the offer:

Maximum total credit $150. Credits are posted to Tech CU savings account as of the end of the month in which the verified qualifying transaction occurs, but will not count toward the balance available for withdrawal until nine months after account opening. If account is closed within nine months of opening, credit posted under this offer and any dividends accrued thereon will be forfeited.

Basically you need to keep the account open for a minimum of six months now. Not sure when the new terms came in, but they were there on the 15th of January at the very latest. Given their is no monthly account fee, it’s not really a big deal.

[Originally posted on 9/16/14. We’re reposting today, 1/1/16 since the expiration date got extended until 7/31/16. It’s been confirmed to be a soft inquiry and $1k in credit card funding, plus easy direct deposit requirements. We’ve updated the credit card funding and direct deposit data points as well.]

Offer at a glance

• Maximum bonus amount: $150
• Availability:
  • Offer now restricted to Californian residents
  • Anybody can become a member if they join Financial Fitness Association first ($8 fee). Or sign up directly if you live, work, worship, or attend school in Santa Clara, San Mateo, Alameda, Contra Costa, Santa Cruz, or San Francisco Counties or are an employee of their tech CU member companies or are related to or live with existing member
• Direct deposit required: $500+, recurring, see what counts here
• Additional requirements: Online bill payment
• Hard/soft pull: Soft
• Credit card funding: Up to $125, Visa/MC/Amex/Discover
• Monthly fees: None
• Early account termination fee: Nine months, bonus forfeited
• Expiration date: December 31st, 2015 July 31, 2016 August 17th, 2017 December 31st, 2017 March 31st, 2018

The Offer

Direct link to offer

• Receive a sign up bonus of $150 when you open a Tech CU checking account, with promo code: moveon. The bonus is broken down as follows:
  • $100 for establishing a recurring direct deposit of at least $500
  • $50 for performing three Tech CU online bill payments or other automated Tech CU payment

The Fine Print

• Requirements must be completed within 90 days of account opening
• Bonus will post at the end of the month in which the requirements were meet
• Offer valid only for new-to-Tech CU personal checking accounts. Not available on UTMA, HSA, IRA or business accounts
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Their basic checking account doesn’t come with any monthly fees. I wasn’t able to find any mention of an early account termination fee in their fee schedule. But given there is no monthly maintenance fee, it’s probably a good idea to keep it open at least six months.

They have added fine print to the bonus that says the bonus is not available for withdrawal for six nine months.

Our Verdict

We don’t really have enough information to know whether this is a good deal or not, if it’s soft pull and can be funded with a credit card than yes, but if it’s a hard pull forget about it. If anybody has any experience with this bank, please let us know in the comments below.

Update: It’s been confirmed in the comments that it’s a soft pull and that it can be funded with a credit card up to $1,000, even with Amex (now only $125 and no amex). The direct deposit requirement also seems like an easy one. Since this in nationally available, it should be a popular bonus.

Direct link to offer