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I just got the e-mail for this. Non-targeted.

Open a new Virtual Checking before 3/18/13
Earn $50 when you set up direct deposit
Earn $50 when you pay your first bill using our online Bill Pay system

Product Requirements:
Open the account with $100.00 or more
Enroll in Online Banking – FREE!
Enroll in eStatements – FREE!
Elect to receive a MasterMoney® Debit Card – FREE!

Bonus(es) will be credited to the Virtual Checking account within 60 calendar days after the direct deposit or Bill Pay services have gone into effect.

[L=http://www.ftub.com/?9588[/L]

Member Summary
Most Recent Posts
oh yeah, need to get this done. They sent me a fee change note a while back saying there's going to be a $5/mo charge f... (more)

muumuu (Jun. 24, 2013 @ 2:40p) |

part of my Live Chat with FTUB today...

FTUB: We will close the account if there is no account activity on the account, h... (more)

ungar2000 (Jun. 24, 2013 @ 3:06p) |

According to CS, a dormant account is one that has no deposits or withdrawals for a year.

anothernutjob (Jun. 28, 2013 @ 9:53a) |

No early closure fee.

Have to mail in letter to close account.
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Earn $50 when you set up direct deposit
Does Bank to Bank ACH transfer qualify for DD?

Earn $50 when you pay your first bill using our online Bill Pay system
Does this mean the first FULL bill payment OR it could be only part of the bill ($1, for example)?

AugustFour said:   Earn $50 when you set up direct deposit
Does Bank to Bank ACH transfer qualify for DD?

Earn $50 when you pay your first bill using our online Bill Pay system
Does this mean the first FULL bill payment OR it could be only part of the bill ($1, for example)?


From their terms here:

"A qualifying direct deposit is defined as the direct deposit of a paycheck, salary, pension, or government benefits electronically deposited by an employer or an outside agency. Bank-to-bank transfers between accounts held by the same individual, transfers between accounts both held at First Trade Union Bank, and deposits made via a banking location, ATM or remote capture process do not qualify."

Edit: previous discussion about them here: http://www.fatwallet.com/forums/finance/1132367/

Seems they have poor customer service and bank to bank transfers definitely don't count, but those that followed the rules seemed to get their bonuses within the 60 days (except one guy?).

I got my bonuses last time from them with a real DD and bill pay etc. Looks like I need to get on canceling that DD!

For bill pay, can you just pay a small, one-time bill (maybe to yourself) or must do a formal sign-up with a payee (like a utilities company, etc.) to pay the full amount (auto pay)?

I did their last promo and people had to do a "real" direct deposit for the 50.

Hard pull?

No hard pull, real DD required.

Last time I applied for their offer, was rejected ( probably due to too many accounts in recent time ) . Any one in similar position applied for this offer & gone through. I will be trying in next few days.

Hard pull about the head and shoulders if you do not do exactly as they say.

With tax time coming up, you gotta wonder if a DD of a fed or state refund would count...

I was wondering if I could get into this promotion because I closed my account from last promotion maybe around July 2012.

woodsley said:   I was wondering if I could get into this promotion because I closed my account from last promotion maybe around July 2012.

I was wondering the same thing and found the answer in one of the bullet points of the terms:

Maximum amount to be paid in bonuses is $100.00 per individual; if more than one Virtual Checking account is opened by one individual, only one account will qualify for this offer. If an individual has previously received a bonus payment under any prior First Trade Virtual Checking offer, they are not eligible for this promotion.

can you make your opening deposit to this account with a credit card?

Silverthunder said:   can you make your opening deposit to this account with a credit card?

I contacted them. You cannot fund with a credit card.

I tried to apply online from outside their "footprint." Something on their site opened in a pop-up window, and I neglected to close the window. When I got to the stage in the application process, after the credit check where I would be funding the account, but before I knew my account number, it timed out, most likely because I hadn't closed that &^%@!*# popup window. I applied again, and the site told me I have to mail in my signature card (which has my Social Security number on it) and a copy of my ID. I called the CSR and was told that that is normal--everyone has to mail those things in (or go to a branch, I would assume).

Their site says the account can be funded by mailing them a check, or from a checking account or savings account at another bank. I was able to fund it from a stock brokerage account.

According to the CSR "it's just a soft pull."

Yes, everyone has to mail in the signature card. No hard pull. I already got my bonus from opening mid-December.

anyone have experience on how to close the account easily?

Secure message?

Is there a fee for closing this account early?

Got bonus today for 100

gloreglabert said:   Secure message?

Response when I tried this:

"Hi xxx,

We are sorry to hear of your desiure to close your account with First Trade.

Is there anything in particular that is causing you to close your account?
Are there any questions or concerns regarding your account that we can help you with?

In order to fufill your request we will need to receive it in writing with an original signature.

You can mail the request to: First Trade Union Bank
PO Box 55063
Boston, MA 02205-8031
Attn: Customer Service"

I hate banks that do this.

ungar2000 said:   gloreglabert said:   Secure message?

Response when I tried this:

"Hi xxx,

We are sorry to hear of your desiure to close your account with First Trade.

Is there anything in particular that is causing you to close your account?
Are there any questions or concerns regarding your account that we can help you with?

In order to fufill your request we will need to receive it in writing with an original signature.

You can mail the request to: First Trade Union Bank
PO Box 55063
Boston, MA 02205-8031
Attn: Customer Service"

I hate banks that do this.

+1, already got that and sent in the note.

ungar2000 said:   gloreglabert said:   Secure message?

Response when I tried this:

"Hi xxx,

We are sorry to hear of your desiure to close your account with First Trade.

Is there anything in particular that is causing you to close your account?
Are there any questions or concerns regarding your account that we can help you with?

In order to fufill your request we will need to receive it in writing with an original signature.

You can mail the request to: First Trade Union Bank
PO Box 55063
Boston, MA 02205-8031
Attn: Customer Service"

I hate banks that do this.


This is why I have a special place for all of those postage paid envelopes the banks send.

oh yeah, need to get this done. They sent me a fee change note a while back saying there's going to be a $5/mo charge for dormant checking accounts starting July 1, don't know what they consider as dormant but I'm sure I fit the description pretty well.

muumuu said:   oh yeah, need to get this done. They sent me a fee change note a while back saying there's going to be a $5/mo charge for dormant checking accounts starting July 1, don't know what they consider as dormant but I'm sure I fit the description pretty well.

part of my Live Chat with FTUB today...

FTUB: We will close the account if there is no account activity on the account, however, it would take 3 years for it to be closed.
Me: Will any fees occur though?
FTUB: There will be no fees on that account if it is at a $0 balance
Me: Ok, I just won't do anything then. I will take a screenshot of this convo, just in case

According to CS, a dormant account is one that has no deposits or withdrawals for a year.



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