Offer at a glance
- Maximum bonus amount: $100 + $50 via loan
- Availability: Seems like anybody can join via American Consumer Council (ACC)
- Direct deposit required: Yes, $1,000+ per month for two consecutive months
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: None listed
The Offer
- Farmers Insurance Federal Credit Union (FIGFCU) is offering a $150 referral bonus to both parties. Bonus is broken down as follows:
- $50 when your referral opens a Checking account with Direct Deposit of at least $1,000/month for two consecutive months.
- Earn $50 more when they open any Savings or Certificate account with a minimum of $10,000 for two consecutive months.
- Earn an additional $50 when your referral opens a Signature Loan or Line of Credit with a minimum loan balance of $10,000.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Don’t think this is worth doing as it requires such a huge deposit for half of the bonus. Feel free to share your referrals in the comments below.
Hat tip to reader Ryan H
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- A Beginners Guide To Bank Account Bonuses
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
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- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
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