[MN, WI, TN, TX] Altra Federal Credit Union $250 Checking Bonus

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Offer at a glance

  • Maximum bonus amount: $250
  • Availability: MN, WI, TN, TX
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: $15, 90 days
  • Household limit: None
  • Expiration date: None listed

The Offer

Direct link to offer

  • Altra Bank is offering a bonus of $250 when you open a new Business Advantage or Business Edge account and complete the following requirements:
    • Use promo code CHK_$250BUSINESS
    • Make $2,500 in qualifying deposits
    • 20 debit card transactions

The Fine Print

  • $250 cash bonus available for new Altra Business members who open a new Business Advantage or Business Edge Checking account in person at any Altra Branch location; Offer void for existing Altra Business members or Altra members if Altra membership has been closed within the last 6 months.
  • To receive offer, you must complete the following requirements within the first sixty (60) days of account opening: 1) Make a minimum of $2,500 in qualifying deposits (new money; funds not currently on deposit at Altra, and 2) Make a minimum of twenty (20) purchases with your Altra Visa Business Debit Card ($10.00 minimum purchase per transaction required).
  • $250 will be deposited into new Business Checking account within 30 business days of completing requirements.
  • If all requirements are not completed and/or posted within the first 60 days of account opening, cash bonus will not be deposited.
  • The first sixty (60) days of account opening means the full 60 days beginning on the 1st day and up to the 60th calendar day at 2 pm CST. One Business Checking account per business member; one offer per business member.
  • Available for business accounts only; not available for personal or Guardianship, Rep Payee, or UTMA accounts.
  • Offer valid for members ages 18 and older.
  • For tax purposes, cash bonus may be reported as dividends. Membership eligibility required. Limited time offer.
  • Cannot be combined with any other checking bonus. Contact Altra for complete details.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Business advantage has a $10 monthly fee. This is waived with a $500 average daily balance.

Early Account Termination Fee

There is a $15 fee if closed within 90 days of account opening.

Our Verdict

Might be worth doing for some people, not sure what sort of business documents are required.

Useful posts regarding bank bonuses:

  • A Beginners Guide To Bank Account Bonuses
  • Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
  • 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 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
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