[Expired] [MN only] Hiway Federal Credit Union $250 Checking Bonus

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

Update 5/4/19: Deal has been extended until August 31st, 2019. Can fund up to $3,000 with a credit card as well. Hat tip to reader Michael

Offer at a glance

• Maximum bonus amount: $250
• Availability: In branch only, all branches are in MN. [Branch locator]
• Direct deposit required: Yes, $500+
• Additional requirements: Six debit card transactions
• Hard/soft pull: Hard pull
• ChexSystems: Unknown, sensitive
• Credit card funding: Yes, can fund up to $500
• Monthly fees: None
• Early account termination fee: Six months, bonus forfeit
• Household limit: None
• Expiration date: April 30th, 2019 August 31st, 2019

The Offer

Direct link to offer

• Hiway Federal Credit Union is offering a bonus of $250 when you open a new checking account and complete the following requirements within 30 days of account opening:
  • Set up a direct deposit of at least $500
  • Complete at least 6 debit card transactions

The Fine Print

• Offer valid 3/4/19 – 4/30/19 to persons with no prior checking relationship with Hiway in the last six months.
• To qualify for $250 offer, account holder must set up a Direct Deposit ($500 minimum) and make a total of 6 debit card transactions within 30 calendar days from the date the account was opened.
• After the account has been open for 45 days, allow up to an additional 7 days for $250 to be deposited to your Savings Account.
• Account must remain open for six months.
• If all requirements of the offer are not met, Hiway reserves the right to reclaim the $250.
• 1099 MISC may apply if rewards/income paid in one calendar year exceed $600. Insured by NCUA.

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

Account must be kept open for six months otherwise the bonus may be forfeit.

Our Verdict

Given that it’s a hard pull to open and it looks to be ChexSystems sensitive I don’t think it’s worth considering. For a full list of bonuses we do recommend click here.

Hat tip to Ryan M

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