DOC Compass — Offers, decoded

Deal has expired, view the best current checking bonuses by clicking here

Update 9/29/19: This offer is back, it was sent out via physical mailer and there is no online link but one reader was able to open the account with the bonus attached without having the physical mailer. Hat tip to reader temp542. Keep in mind the warning below about this bonus:

A lot of readers are having issues with this bank/bonus. I’d strongly advise you to read the comments before considering opening an account. Because of this we won’t be adding it to our best bank bonus list.

Offer at a glance

Maximum bonus amount: $200
Availability: CA, OR, WA, GA, IL, NY, TX, AZ only
Direct deposit required: Optional
Additional requirements: Direct deposit of $500+ or 10 debit card purchases
Hard/soft pull: Soft
ChexSystems: Unknown (reports of them being sensitive)
Credit card funding: None
Monthly fees: $5, avoidable
Early account termination fee: Unknown
Household limit: None listed
Expiration date: ~~November 19th, 2017~~ October 26th, 2019

The Offer

No direct link to offer, mailers sent out. One reader was able to get the bonus attached without the mailer.

Union Bank is offering a bonus of $200 when you open a new Banking By Design checking account and complete ONE of the following requirements within 60 days of account opening
- Establish a direct deposit of $500 or more
- Spend at least $500 on your contactless enabled debit mastercard
- Complete 3 bill payments in online banking

The Fine Print

$200 Checking Bonus: Valid for new Union Bank® personal checking clients who open a Banking By Design checking account online and complete one of the following qualifying services within 60 days of account opening: (i) complete a direct deposit of $500 or more; or (ii) complete ten (10) or more debit card purchases (excluding cash withdrawals, transfers, or ATM inquiries).
Qualifying services must transact from the same Banking By Design checking account.
After qualification, the bonus will be deposited into the Banking by Design checking account during February 2018.
If your account is not active and in good standing, you will not receive the bonus.
Limit one offer per lifetime.
Bonus may be subject to tax reporting; applicable 1099 may be sent for tax purposes.
Union Bank reserves the right to change this cash bonus offer at any time without prior notice.
Cannot be combined with other offers.
A qualifying direct deposit is an electronic deposit of your salary/paycheck, pension or government benefits (such as Social Security) from an employer or the government. Transfers from one account to another or deposits made at a banking location or ATM do not qualify as a direct deposit.

Avoiding Fees

This account has a $5 monthly fee, this is waived if you do either of the following:

single direct deposit of $250 or more
single Mobile Check Deposit of $250 or more

I’m unsure if there is any early account termination fee or not

Our Verdict

Unfortunately it looks like they are ChexSystems sensitive, if you can manage to get around that then this is a great bonus. $200 is relatively high, especially when it doesn’t require a direct deposit and is fairly easy to keep fee free. They used to have a $500 business checking bonus, but that has unfortunately expired. I’ll likely add this to the best checking bonuses but I’d like to see how ChexSystems sensitive they are first so please make sure to share your experiences in the comments below.

Big thanks to reader, Isaac B who let us know. Learn how to find bonuses and contribute to the site here.

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