This blog is for informational purposes only and not an offer of any specific account or service. For current details on our checking accounts, including terms and fees, please visit midflorida.com or speak with a representative. Account features and conditions may change. Membership eligibility required.
It’s no secret that credit unions and banks like to offer promotions to get you to open a checking account. One of the most successful types of promotions is offering a checking account bonus. In other words, they’ll give you money if you open an account.
While these checking account bonuses can be very attractive, they come with conditions. It’s not uncommon for someone to discover they aren’t eligible to get their bonus because they didn’t meet the conditions.
If you want to be certain of getting your checking account bonus, follow these five steps.
Start Your Application With MIDFLORIDA Credit Union.
Review the terms and conditions of the checking account bonus
Reviewing the offer's terms and conditions is crucial if you’ve signed up for an account to get a bonus. This will lay out everything you need to do to get your bonus and when you must do it.
Reviewing all the terms and conditions can also help you decide if the checking account bonus is worth the work you’ll have to do.
It’s worth asking yourself if you’re okay with taking all these steps, especially if you’re happy with your current account.
It’s worth mentioning that this is a good step to take no matter what kind of account you’re opening.
If you’d like to open a MIDFLORIDA Credit Union Free Checking account, for instance, you’ll want to review the terms and conditions to ensure you get your interest every month.
Speak with a banker
The terms and conditions of a checking account bonus are usually pretty straightforward and should be disclosed to you at account opening.
If you have any questions about them, don’t hesitate to ask the bank for clarification.
Credit unions or bank employees are also excellent resources if you have a problem with one of the steps, such as setting up your online bank account.
Keep records
When talking with an employee, keep a record of your communications in case you get conflicting information.
This record should include:
- Employee’s name
- The date you talked with them
- The outcome of the conversation
This might seem like overkill, and you won’t need this information in many cases.
However, if you get conflicting information or are told you’re missing a step you’re sure you took, you’ll be happy you kept a record.
Meet your conditions
Once you understand the terms and conditions, all you have to do is meet the conditions.
This might seem obvious, but you’d be surprised at how many people don’t get their checking account bonus simply because they forgot to take the necessary steps to get their bonus.
At MIDFLORIDA Credit Union, for instance, the new Free Checking account bonus conditions include:
- Set up Direct Deposit with at least $500 which must post within 60 days of account opening
- Set up online banking and eStatements
- Make 5 debit card purchases in one calendar month within the first 60 days of account opening
If you made a list of the terms and conditions when you reviewed them, you’ll find that meeting your conditions is much easier.
Remember to include any deadlines you must meet, like the direct deposit and debit card purchase transactions that must occur within 60 days of opening the new Free Checking account.
Set a reminder
Believe it or not, many people don’t meet the terms and conditions simply because they forgot about them until it was too late. Don’t let this happen to you.
Make a note on your calendar, whether it’s posted on the wall or an app on your phone, about when each condition must be met.
In addition to reminding yourself about the deadlines for meeting the conditions, you should also remind yourself when your checking account bonus should arrive.
If the credit union or bank hasn’t deposited the bonus in your account by the due date, you’ll want to contact your credit union or bank and get an update. If an employee gives you a new deadline, set a new reminder and check again when the new date arrives.
Be persistent
Finally, you need to be persistent to get your checking account bonus. In other words, you must stick with the process until the credit union or bank deposits the bonus into your checking account.
Many people never get their bonuses simply because they give up when they encounter an obstacle or two.
Don’t let this happen to you. Continue taking the steps described above, and repeat them until the financial institution deposits the money in your account.
Become a member of MIDFLORIDA and open a new Free Checking account for your $200 bonus1
If you’ve signed up for a promotion that offers a checking account bonus, you’ll want to take steps to ensure you get it.
You first need to review the terms and conditions of the checking account bonus to confirm that you can meet them. If you have any questions, you should also contact your new bank or credit union employee and stick to the process until you get your bonus.
Speaking of bonuses, MIDFLORIDA has a great offer for new members who open a qualifying account. If you meet all the terms and conditions, you can get a $200 bonus when you open a Free Checking account.
Talk with a MIDFLORDA teller or account manager today. They’ll be happy to help you open a new account and show you the personalized service MIDFLORIDA offers to all its members.
