Offer at a glance
- Maximum bonus amount: $400
- Availability:
- You are a current employee of the State of Florida.
- You are a retiree of the Florida Department of Transportation.
- You work for a company that has a current contract with the Florida Department of Transportation.
- You are an immediate family member of a current Connect Credit Union member.
- You live or work in an eligible Florida county.
- Counties: Brevard, Broward, Charlotte, Citrus, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Martin, Miami-Dade, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Johns, St. Lucie and Volusia counties.
- Direct deposit required: Yes, $250+
- Additional requirements: None
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $2.75, avoidable but diffcult
- Early account termination fee:
- Household limit:
- Expiration date: 12/15/26
The Offer
- Connect Credit Union is offering a $400 bonus when you open a new connect checking account and complete the following requirements:
- Receive a total of at least $250 in qualifying direct deposits within 60 days
The Fine Print
- Bonus will be deposited within 60 days after all requirements are met. Membership eligibility, account-opening requirements and additional terms apply.
- A qualifying direct deposit must be an electronic deposit made to your new Checking Account by an employer or its payroll provider for payroll, or by a retirement fund or benefits provider for retirement benefits. Transfers between accounts, person-to-person payments, cash deposits, check deposits and deposits from other sources do not count toward the promotional direct deposit requirement.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Connect checking has a $2.75, requires a minimum combined deposit/loan balance of $10,000 to waived. Waived for the first 90 days.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if any EATF is charged.
Our Verdict
Looks like a good bonus, don’t think it’s worth trying to waive the monthly fee as it’s only $2.75 and requires a $10,000 balance. If you decide to go for it then please share your experiences in the comments below.
Hat tip to reader Bockrr
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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 Calculate And Share Your ChexSystems Datapoints
- 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
Denial letter received on 10/9 citing “unable to verify identity” and Chex report. I had zero communication from them. I would say that they are Chex sensitive. Prior to applying my score was 644. Stats: 2/1 4/2 10/3 11/4
Yeah they called me today to unfreeze Chex before the HP and I’m hesitant waiting for more DPs here before they follow up tomorrow. I don’t mind the Chex pull but if it’s in vain no sense in taking a HP
Same
me too
Snook on the line Sorry to hear about your Chex woes. Hopefully you get into it soon. I appreciate your quick reply.
They are kinda high I cant pull my report because I’m fighting with chexsystems stupid login process my password expired (dumb af) and the new one diddnt work , so i locked my account accidentally Christopher Robin 🔗💰
Snook on the line Did they pull your Chex? If so, what are your stats? TIA
Applied 9/20 and nothing yet.
Applied on Monday 09/21 and only Crickets so far. Anyone else on the same boat?
No worries, I was just curious. It looks like they do pull Chex (I would have been pretty surprised if they didn’t) and Equifax as previously mentioned, they asked me to unfreeze both. Don’t seem to be too Chex sensitive. They did ask about recent accounts, but that was it. Chex stats below. 0/1 0/2 3/3 8/6 14/12 26/24
Denied never got a hard pull on ex or eq so I’m assuming the reason was my tu was frozen if that’s what the letter says when it gets here I’ll try again
Applied online on 9/18. Sent an email to inquire about my application status yesterday and got an email back saying they needed some additional information and to call them back. After playing phone tag for 2 days I was finally able to speak with a banker, answered a few questions, then was told I needed to go into branch for them to upload my ID. Closest branch is 45 mins away. Was considering rescinding my application but confirmed that they had already pulled my credit and at this point I don’t want the credit pull to go to waste so I will have to take an afternoon off work (due to my work schedule and they’re closed on Sat & Sun) and go to branch. Hope this is all worth it.
You can do mobile deposit once approved
4-5 days
So how many days was it from the time you submitted the application, to getting a phone call, to opening the account?
Update: Account is finally open after multiple phone calls from the bank. The initial deposit to the savings can be done via a mobile check deposit in the app. Seems very hands on for opening a bank account…
I was asked during a recon why so many inquiries I told the underwriter that I was planning on getting rid of five cards that were charging me over a thousand in annual fees combined and replacing them with no fee rewards cards ( like the wonderful card from them I had applied for ) I would up getting approved and I had six hard pulls in the three weeks leading up to that application
People obsess about hard pulls too much in my opinion I’ve been denied credit because of too many new accounts but I’ve never had a denial letter that listed inquiries as the reason I’ve been instantly approved for cards with five figure starting limits with Amex , Citi , wf , Chase ,usb, Barclays, and nfcu with 8,9,sometimes 15 HPs on the report they pulled. once you lay down a few solid years of 100% on-time payment history on a clean file , HPs mean next to nothing just my 2cents as far as I’m concerned them adding a tenth hard pull to my experian or an eighth to my transunion for $400 is well worth it
Holy cow! Thank you this is amazing. I got laid off this past January. And a divorce. I’m lucky enough to have had a pretty big chunk saved. Somehow through these bank bonuses, casino bonuses on CIS and the whole Chime dance, I’ve maintained my balance! Ppl are always so kind about giving you a hand on here. I’m going to screenshot this list. Seriously, much appreciated.
https://www.doctorofcredit.com/sould-i-keep-my-credit-report-frozen-a-look-at-pros-cons/
I think I’m going to call and rescind my application if it’s not too late. I’d rather they didn’t pull my credit. Yeah. I was going to use Fidelity. Which is sort of the best thing for ppl who don’t have Chase biz
I agree but already signed up. Still haven’t heard from them. Perhaps I can call and rescind it. I don’t need another hard pull right now.
They check your credit?! I’m trying to get my credit back up after never having any (divorce). Wow. I’ve already had 3. I haven’t been notified of this yet. How do you freeze it? Geez.
William Charles Multiple reports of this being a hard pull. Might want to update.
They will also call post running the credit check to ask some additional information. Once they review they will then call account once the account is opened.
The $400 bonus is great for a $250+ direct deposit. The monthly fee of $2.75 for a $10K balance is crazy. $100 balance would be better. The hard pull makes this a hard pass.
Confirming it was a hard pull. That’s an unpleasant surprise. Have received no emails post my application being submitted a few days ago
Applied online yesterday with Experian and Chex thawed. App went pending with no further correspondence so far. Comment below about a potential hard pull which is an unpleasant surprise.
unfortunately those are the only options.
Not sure If they pulled it I’m fighting with Chex login process right now My password expired and I can get my new one to work