Offer at a glance
- Maximum bonus amount: $300
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Yes, $2,500. Visa & Mastercard accepted
- Monthly fees: $10, avoidable
- Early account termination fee: None
- Expiration date: None mentioned
- Household limit: None mentioned
The Offer
- Open a new QChoice checking account with Quorum Federal Credit Union and receive a bonus of $300 when you meet the following requirements within 90 days of account opening :
- Enroll in eStatements
- Maintain a monthly direct deposit(s) totaling $1,000 OR a minimum average balance of $5,000
- Conduct 10 or more transactions per month for the first three consecutive months. Transactions included (but aren’t limited to): making deposits or withdrawals, using your debit card for any purchase and paying bills
The Fine Print
- Bonus will post within 120 days of account opening
- $300 Incentive Requirement: Members with an existing checking account are not eligible for this promotion.
- New QChoice checking account must satisfy the following requirements: 10 or more transactions per month for the first three consecutive months or 30 transactions over the first 90-day period, after account opening. Transactions include deposits, withdrawals, check writing, POS transaction, account transfers, ACH direct deposit, and bill payment.
- The $300 cash bonus will be deposited into your QChoice Checking Account within 120 days after account open date if all account and bonus criteria was satisfied.
- Account Requirements: QChoice requires enrollment in eStatements and minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000 to avoid a $10 monthly fee.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There is a $10 monthly fee, this is waived if you’re enrolled in eStatements and have minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000. I found no mention of any early account termination fee in their fee schedule.
Eligiblity
To be eligible, must join either 1) American Consumer Council (no fee), or 2) the Select Savers Club ($5 fee, note that Quorum will pay this fee). You can sign up for either of these during the application process.
Quorum membership is established through the creation of a Basic Savings account with a $5 minimum balance. This account is opened automatically and funded with a $5 deposit by us when your application is approved.
Our Verdict
Fantastic offer and it’s nationwide with $2,500 in credit card funding. I don’t see this one lasting long to be honest, we still aren’t 100% sure it’s a soft pull but I suspect it is. Most likely this will be added to our best bank account bonus page.
Big thanks to reader, Elleni who let us know. Please consider sharing bank bonuses with this site so we can make it even better.
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