(CA Only) Monterra Credit Union (San Mateo Credit Union) $200 Check Bonus

Update 5/9/26: Raised to $200. Hat tip to the reader Davis

Update 2/24/26: Bonus reduced to $150. Now available in Now open in Alameda County, Contra Costa County, Santa Clara County and throughout San Francisco County. Hat tip to the reader Davis

Update 11/22/25: Bonus now $200 but requires direct deposit or ACH.

Update 3/16/24: This is now called Monterra Credit Union. B0nus is now $150. Hats off to him Davis

Update 10/3/23: Expanded to the end December 31, 2023.

Update 7/4/23: Expanded to the end September 30, 2023.

Update 1/12/23: Expanded to the end March 31, 2023.

Update 11/13/22: Offer is back and valid through December 31, 2022.

Update 27.10.21: The offer is back and valid until October 30, 2021. In branch only this time. Hats off to him arizonapv

Offer at a glance

• Maximum bonus amount:100 dollars
• Availability:You are eligible for SMCU membership if you live, work, worship, or attend school in San Mateo County, the City of Palo Alto, or certain areas of San Francisco
• Direct deposit required:Yes, $500+
• Additional requirements:10 or more debit card transactions totaling over $100 in the first full calendar month
• Hard/soft pull:It seems to be softstrong pull on the branch
• ChexSystems: Unknown
• Credit card financing:Up to $500
• Monthly fees:ANY
• Early account closure fee:Unknown
• Family boundary:One per mailing address
• Expiration date:May 31, 2019 December 31, 2022

Offers

Direct link to the offer

• Open a new checking account with San Mateo Credit Union and receive a $150 bonus when you meet the following requirements:
  • Make ten (10) or more debit or credit card transactions2
  • Have at least one monthly direct deposit, payroll deposit, or ACH transfer
  • Register and choose to receive eStatements

 

Fine Press

• Open a new San Mateo Credit Union (SMCU) Premium or Free Checking account (no other account types accepted) from 4/1/19 – 5/31/19.
• During the full calendar month immediately following the month in which the account was opened, initiate 10 or more PIN or signature-based purchases or payments for at least $100 in spending using the SMCU debit card(s) associated with the new checking account.
• ATM and ACH transactions are not acceptable.
• Offer not available to existing SMCU members who have a current account open as of 31/3/19. SMCU employees, associates and their families are not eligible
• Limit of one bonus eligible checking account per individual and per mailing address.
• The cash bonus for the month will be paid into the opened and eligible checking account within 31 days after the end of the qualifying period. The account must have a positive balance at the time of payment to receive the bonus.
• SMCU will classify the bonus as interest paid on the checking account where the bonus is credited. Any applicable bonus related taxes are the responsibility of the SMCU account holder. To the extent required by law, SMCU will report the total value of this bonus to the IRS on Form 1099-INT for the tax year in which the bonus is paid.
• In the case of a joint account, purchases and payments from several debit cards will be added together.

Avoidance of fees

Monthly fees

They offer a free checking account with no monthly fees to worry about

Early account termination fee

I couldn’t find a fee schedule, so I’m not sure if there is an early termination fee or not.

Our verdict

San Mateo previously offered a $150 bonus, but that required a total of 75 debit card transactions.. Although this offer is smaller, I think it is better than the previous offer. Because the requirements for this bonus are easy to meet and there’s no monthly fee to worry about, we’ll add this to our list of best control bonuses.

Useful posts about bank bonuses:

• A Beginner’s Guide to Bank Account Bonuses
• Bank Account Quick Reference Table (Calculated Sheet) (very useful for ranking bonuses according to different parameters)
• PSA: Don’t call the bank
• Login to ChexSystems
• Banks and credit unions that are sensitive to ChexSystems requirements
• What Banks and Credit Unions Do/Don’t Attract ChexSystems?
• How to use our direct deposit site for banking bonuses site
• Common Bonus Bank Misconceptions + Why You Should Give Them a Go
• How many bank accounts can I safely open in a year for the purposes of the bank bonus?
• Affiliate links and bank bonuses – We will not use them
• Complete list of ways to close bank accounts in each bank
• Banks that allow/disallow overseas check applications
• Bank bonus posting times

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