[TX only] Public Employees Credit Union (PECU) $200 Checking Bonus – Round Rock Branch Only

Offer at a glance

• Maximum bonus amount: $200
• Availability: Must open account at Round Rock branch, must live within 10 miles of any branch to be eligible.
• Direct deposit required: Yes, two months of $500+
• Additional requirements: 2 x 10 signature based transactions of $5 each
• Hard/soft pull: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: $50, 12 months
• Expiration date: None listed

The Offer

Direct link to offer [not possible to link directly, but the offer shows on the home page]

• Receive up to a $200 sign up bonus with PECU, broken down as follows:
  • Receive $50: Go to Round Rock branch and open a new checking account with a debit card and direct deposit
  • Receive an additional $50 when your second monthly direct deposit occurs within the first 90 days of your account opening
  • Swipe your new debit card for at least 10 signature based transactions of at least $5 each within 30 days of the date of your initial purchase swipe
  • Swipe your debit card for at least 10 additional signature based transactions of atleast $5 each during days 31-60 after the date of your initial purchase swipe

The Fine Print

• New checking account with direct deposit must remain open for 12 months or account owner is subject to a $50 account closing fee
• Offer only available here at the new PECU Round Rock branch. Offer is not available at any other PECU location
• Direct deposit must be an electronic deposit of your payroll check, pension or government benefits. Must complete two months of direct deposits of at least $500 each month within 90 days of account opening
• Current account holders are not eligible
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

They offer a free checking account with no monthly minimums. According to their fee schedule there is an early account termination fee of $10 if the account is closed within six months, you also need to keep the account open for twelve months with a direct deposit otherwise you’ll pay another $50 fee.

Our Verdict

Nice big bonus, but we don’t really know enough to say whether it’s a good or bad deal. If you have any experience with this bank then please share your experiences in the comments below. We won’t add it to our list of the best bank bonuses available due to it being in branch at only one location.

Having to keep the direct deposit active for twelve months also really sucks.

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