DOC Compass — Offers, decoded

Deal has ended, view more bank account bonuses by clicking here.

Update 4/5/20: Extended until 6/30/2020

Update 1/4/20: Deal is back with promo code GET500 and valid until 3/31/2020. Hat tip to reader Brandon T

Update 10/19/19: Deal is back and valid until December 31st, 2019. In addition apparently if you use promo code JOYNPLUS you get an additional $50 when you meet the direct deposit requirement. I don’t see a landing page for that offer so it might make sense to just use the CHECK500 code.

Offer at a glance

Maximum bonus amount: $500
Availability: IL only
Direct deposit required: $500+ for three months
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Yes, sensitive
Credit card funding: Can fund up to $1,000 per account with a credit card (Visa, Mastercard & Discover all accepted)
Monthly fees: None
Early account termination fee: None
Household limit: None listed
Expiration date: ~~September 30th, 2019 December 31st, 2019~~ March 31st, 2020

The Offer

Direct link to offer

Andigo Bank is offering a bonus of up to $500 when you open a new checking account. Must use promo code BLOOM500. Bonus is broken down as follows:
- Get $250 when you open a new checking account and set up a direct deposit (must receive direct deposits of $500+ for three consecutive months)
- Get $250 when you complete at least $500 in Andigo Visa debit card purchases within the first 90 days after opening account

The Fine Print

Offer available for new members and members without an Andigo checking account within the last 12 months.
Must use promo code JOYN on application and be approved for membership.
Membership at our credit union is a privilege granted by our members under state law.
Offer subject to change without notice.
For complete details, contact Andigo Credit Union. All bonus payouts may be taxable.
To receive the $250 new checking bonus:
- Member must open a new Cash Back or High-Yield Checking account, subject to approval.
- Direct deposit must be setup within 60 days of joining and/or opening new checking account. Qualifying direct deposits are regularly recurring electronic deposits from your employer or government agency (e.g. Social Security).
- Person-to-person and bank transfers between your Andigo accounts or accounts you have at other financial institutions or brokerages do not qualify.
- The $250 checking bonus payout will be deposited into your Andigo primary share account within 30 days after the third consecutive month of $500 or more in total direct deposit. All checking accounts must be opened by 9/30/2019 to qualify for bonus payout.
To receive the $250 purchase bonus:
- Member must have at least $500 in Andigo Visa debit card purchases (signature or PIN-based) within the first 90 days after opening checking account.
- ATM withdrawals and cash withdrawals from a PIN-based transaction do not qualify as a purchase.
- The $250 purchase bonus payout will be deposited into your Andigo primary share account within 30 days after meeting requirements.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Their checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is no early account termination fee.

Our Verdict

Fantastic bonus, previous best was for a total of $400 and that required a CD as well. This is an extra $100, although it does have a debit card spend requirement. Still think it’s definitely worth doing if you’re eligible (sadly you’re not if you’ve had an account within the past 12 months). This will be added to our list of the best checking account bonuses.

Hat tip to readers nathan P & Jeff

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