As predicted this deal has ended early, view the best current checking bonuses by clicking here
Update: All recent datapoints are now saying it’s a soft pull to open. I suspect this will be an exceptionally popular offer so I’d recommend signing up sooner rather than later as I suspect the bonus will be pulled before February 17th, 2020.
Offer at a glance
- Maximum bonus amount: $250
- Availability: Anybody can join by joining the Connexus Association and paying a $5 one time donation. If you live in select counties in MN, NH, OH, WI then you can join for free
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: All recent datapoints say soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: February 17th, 2020
The Offer
- Connexus Credit Union is offering a bonus of $250 when you open a new Xtraordinary checking account and complete the following requirements:
- Use promo code FREECHECKING
- Enroll in eStatements
- Have a minimum of $2,000 in net spend purchases using your debit card within six months of account opening
The Fine Print
- Offer valid for new Connexus Credit Union Xtraordinary Checking Accounts opened between 12/31/2019 and 2/17/2020 with promotion code FREECHECKING.
- Credit Union membership required.
- Offer not valid for Connexus Credit Union members with any checking account currently open with Connexus Credit Union or that was closed on or after 1/2/2020.
- To earn the $250, you are required to open a new Xtraordinary Checking Account, subscribe to eStatements, and have a minimum of $2,000 in net spend purchases using your debit card within the first six months of account open date.
- ATM transactions not included.
- If qualified, $250 will be deposited into your new Connexus checking account six months after account open date.
- Qualifying accounts become ineligible if the account is closed prior to receipt of the $250 deposit.
- $250 subject to income tax reporting.
- Offer limited to one redemption per membership.
- Offer subject to change or termination.
- 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 to worry about. There is a $5 inactivity fee
Early Account Termination Fee
I wasn’t able to find an early account termination fee in the fee schedule
Our Verdict
Update: Now that all reports are a soft pull this is definitely worth doing and will be extremely popular.
Shame about the hard pull, otherwise this would be a must do. That being said I think more and more people are caring less about hard pulls with how restrictive credit card bonuses are becoming, so this might still be an attractive option for some people. The other downside is the $2,000 in debit card spend required, if you put that on a 2% card you’d earn $40 tax free. I’ll still add this to the best checking bonuses.
Hat tip to reader John C
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
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