GTE Financial $100 for DD

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Another bank offering a sign up bonus. I don't know if its a hard or soft pull on your credit, but there is an online application. Join through CUsavers club ($10 membership fee is waived; nationwide availability). Obviously, there is an online application.

http://www.gtefinancial.org/future-members/current-offers/get-gt...

Here is the fine print:

*New and existing members without a GTE Financial checking account are eligible to take advantage of the $100 promotional offer. The new Free Checking or U22 Checking Account, must be opened and funded, with at least $1, by 1/31/13. The member must also enroll in eStatements and have payroll direct deposit setup on the qualifying checking account by 02/28/13 to receive the $100 promotional offer. The $100 will be deposited in one sum by 3/31/13. For payroll direct deposit, setup means that the first direct deposit must be deposited into the qualifying GTE checking account by 2/28/13. The $100 new checking account promotion is only applicable on one account per member number; multiple opened checking accounts under one member number are not eligible.

Note: I found this bonus on another site, I am simply reposting here. Hopefully someone in the FWF community can tell us if its a hard pull or if ACH push counts as DD.

Edit: Looks like a hard pull, but you can fund with a credit card up to $5,000! My Chase Ink Bold card seemed to work for account opening.

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Received my $100 today. Deposited to savings. Effective 03/15, posted today.

BingBlangBlaow (Mar. 29, 2013 @ 4:49p) |

Same here.

brandon032586 (Mar. 30, 2013 @ 9:36a) |

Also got the $100 today. How soon before everyone closes their accounts?

bhardgrove (Mar. 30, 2013 @ 6:44p) |

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any hidden fees? dormant account fees? early closure fees? termination fees? minimum balance requirements?

Could you please post the link? Can this be opened online and nationwide?

Squeezer99 said:   any hidden fees? dormant account fees? early closure fees? termination fees? minimum balance requirements?

Appears to be free, no min balance. No idea about dormant fees. Doesn't seem to be an early closure fee/termination fee.

<Simply set up your payroll direct deposit into your new checking and enroll in eStatements. Thatís it! Your $100 will be automatically deposited into your new checking account by the end of March.>

Seems setting up payroll DD is a condition. Can a bank2bank ACH transfer qualify in place of payroll DD?

PS:
If you opened and funded your new checking account by January 31, 2013 you should see your $100 in your account by March 31, 2013. In order to qualify for this promotion, you must also have signed up for eStatements and had your payroll direct deposit set-up and your first deposit made by February 28, 2013.

6.99%apy on the first 500, nice.

What bureau was the hard pull? And did the opening definitely post as a purchase and not cash advance?

brandon032586 said: Edit: Looks like a hard pull, but you can fund with a credit card up to $5,000! My Chase Ink Bold card seemed to work for account opening.

It was a different bank, but I was charged CASH ADVANCE fee for funding a new checking account with a credit card. You may want to be absolutely sure before pulling out your CC.
On a related note, the $100 bonus seems low for the effort required.

payroll direct deposit set-up/sign-up is the BIG catch!

whodini said:   brandon032586 said: Edit: Looks like a hard pull, but you can fund with a credit card up to $5,000! My Chase Ink Bold card seemed to work for account opening.

It was a different bank, but I was charged CASH ADVANCE fee for funding a new checking account with a credit card. You may want to be absolutely sure before pulling out your CC.
On a related note, the $100 bonus seems low for the effort required.

If it was Citi, then that's always going to happen regardless of what the bank/CU codes the deposit as.

AugustFour said:   payroll direct deposit set-up/sign-up is the BIG catch!
For some people, sure. My employer (and many others) have online DD set-up and let me split my paycheck to as many accounts as I want without human intervention. Makes grabbing DD bonuses dead simple.

Nationwide membership. Has totally free checking. Earn $39 pretax per year on maximum $500 deposited in separate savings account. MUCH more work to get this than the Sony credit card about which posters complained $100 bonus for filling out credit application was not get enough to be worth the time involved. Has extensive on-site information and forms for disputes--suggesting arise frequently. Between that and not having employer paycheck I pass.

gloreglabert said:   What bureau was the hard pull? And did the opening definitely post as a purchase and not cash advance?

Equifax, and pretty sure not a cash advance as my CA limit is much less than $5,000.

Yeah it is a lot for the credit pull, unless you are trying to meet a $5,000 spending requirement to get 50,000 UR points.

This is from their response about hard pull - not worth the effort and credit damage for $100.

Thank you for contacting GTE Financial. I am happy to assist you in this matter.

GTE does do a hard credit pull when you apply for a membership.

moneybie said:   This is from their response about hard pull - not worth the effort and credit damage for $100.

Thank you for contacting GTE Financial. I am happy to assist you in this matter.

GTE does do a hard credit pull when you apply for a membership.

What about bank2bank ACH transfer to meet direct deposit requirement?

Employment paycheck IS the DD. Can see using one of numerous dispute forms over this question, and losing.

snork615 said:   Employment paycheck IS the DD. Can see using one of numerous dispute forms over this question, and losing.
So to put this to rest:
In this case (GTE Financial $100 for DD), "bank2bank ACH transfer" IS NOT the DD?

The 6.99% on up to $500 is available for one checking and one savings account, but it's not automatic. You have to qualify for their "member advantage". Looks like you have to have:
  • a checking, savings and estatements (which you would want to have all of anyway)
  • 2 from a certain list (attached) - looks like best options are MM and DD (if you can keep like $5 in MM which I can't tell for sure and since you need a DD for this promo anyway)
  • either 8 debit transactions (which would make this a terrible RCA), 1 member referral, or 3 virtual transactions (should be easy).

Not too bad for an extra $70/year. If the CC fund helps you meet a sign up bonus or works on a 2% card, this seems like a pretty good deal, all things considered.

does it accept A M ex for first deposit?
does cc option come up only when opening the acct at first online?

Can use Discover card when funding the account?

Thank you

treepuppy said:   Can use Discover card when funding the account?

Thank you


lol, no, is there any bank anywhere that would let you use Discover?

hehe

just wondering because I'm thinking of signing up for the $200 bonus for spending $1,500 with Discover in 3 months. Just trying to think how to spend it.

brandon032586 said:   treepuppy said:   Can use Discover card when funding the account?

Thank you


lol, no, is there any bank anywhere that would let you use Discover?


Evidently yes

The online application actually includes "Credit Card/Debit Card - I authorize GTE Financial to charge my Visa, MasterCard, or Discover card for the amount specified above within 2-3 business days from the date my application is approved." However, Discover is not a funding option.

Am I the only one who came into this thread thinking there would be sophomoric humor, SIS stories of Vegas and pic requests?

what is the minimum dollar amount of the direct deposit that you are allowed to do (and still get credit for it being a direct deposit)?

I guess I was wrong about discover, though they still have not charged my card yet. It took them a while to open my account, saying something about too many inquiries (in their defense, 55 inquiries is a ton, lol).

Edit: I guess I should have given them some time as they just charged my card.

Chase British Airways with 0 cash limit posted as a sale.

whodini said:   brandon032586 said: Edit: Looks like a hard pull, but you can fund with a credit card up to $5,000! My Chase Ink Bold card seemed to work for account opening.

It was a different bank, but I was charged CASH ADVANCE fee for funding a new checking account with a credit card. You may want to be absolutely sure before pulling out your CC.
On a related note, the $100 bonus seems low for the effort required.
what card did you use? has anyone had success with citi w/o fee?

has anyone gotten bonus with ACH push as DD?

I have tried almost everything and no luck. I am about to switch part of my actual DD over. GTE called me a couple weeks after opening just to check in. I discussed their Member Advantage program with them to ask them what qualifies as a DD for that. I asked if an ACH would count, and she said no specifically, that it had to be payroll. I'm assuming that means you need actual payroll for the bonus as well. I like them and don't mind moving over part of my payroll.

If you do an electronic funds transfer from this account to another account, they charge you $2.

brandon032586 said:   I guess I was wrong about discover, though they still have not charged my card yet. It took them a while to open my account, saying something about too many inquiries (in their defense, 55 inquiries is a ton, lol).

Edit: I guess I should have given them some time as they just charged my card.


How did you get Discover card to come up in the dropdown list of credit card types?
I am actually hoping to fund the account with an AMEX card. Do you know how I can do this?

Employer DD cripples the deal.
Hard pull kills the deal.

Received my $100 today. Deposited to savings. Effective 03/15, posted today.

BingBlangBlaow said:   Received my $100 today. Deposited to savings. Effective 03/15, posted today.

Same here.

Also got the $100 today. How soon before everyone closes their accounts?



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