Offer Details
- Bonus Amount: Up to $150
- Offer Deadline: April 30, 2025
- Account Type: Free Checking or Access America Checking
- Minimum Opening Deposit: $25
- Direct Deposit Required: No
- Balance Requirement: Maintain qualifying balance through August 31, 2025
- Payout: By October 31, 2025
- Availability: Must receive offer directly from PenFed
How to Earn the Bonus
| Balance Maintained | Bonus Earned |
|---|---|
| $10,000 | $150 |
| $5,000 | $75 |
- Open a New PenFed Checking Account
- Must be a new checking customer. Offer is targeted and only available if you received it directly from PenFed.
- Deposit External Funds by April 30, 2025
- Deposit funds from a non-PenFed account. Internal transfers do not count.
- Maintain the Required Daily Balance Until August 31, 2025
- Keep your daily balance at or above the qualifying threshold.
- If your balance drops below, your bonus will be reduced or forfeited.
- Receive Your Bonus
- The bonus will be deposited by October 31, 2025.
- Reported on IRS Form 1099-INT.
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Account Options
Access America Checking
- APY:
- 0.35% on $20,000–$50,000 w/ $500 direct deposit
- 0.15% on balances under $20,000 w/ $500 direct deposit
- Minimum Opening Deposit: $25
- Monthly Fee: None, if requirements are met
Fine Print to Know
- Offer is non-transferable and only valid for the original email or mail recipient.
- One bonus per member.
- Account must remain open and in good standing.
- Dividends apply depending on balance and direct deposit activity.
Our Take
This is a solid bonus for savers who can park $5,000 or more for a few months. Unlike most bonuses, this one doesn’t require direct deposit, which makes it more flexible. The Access America Checking account also pays interest, which adds a little extra on top of the bonus.
Just make sure to maintain the balance through August 31, 2025 or you could miss out. It’s also targeted, so check if you received the offer directly from PenFed.
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