If you live in Florida and have a steady paycheck, here's a chance to pocket an easy $250. Florida West Coast Credit Union is celebrating America's 250th birthday by offering a cash bonus when you open a free checking account and set up full direct deposit. No tricky hoops, no monthly fees, just straightforward cash in your pocket.
What You Need to Do for the $250
The process is refreshingly simple. First, you'll need to become a member of Florida West Coast Credit Union if you aren't already. Membership is open to anyone who lives, works, or worships in certain Florida counties, or you can join through a qualifying organization. Check their website for specifics.
Once you're a member, open a new FREE Checking account with at least $20. Then, set up a full direct deposit — think payroll, pension, or Social Security — that hits your account within 60 days. The deposit needs to be at least $1,500 per month to qualify. That's it. No debit card transactions, no online bill pay requirements, no extra steps.
When Will the Bonus Hit Your Account?
After your direct deposit posts, the $250 will be deposited into your new checking account within 90 days of opening. So you could be waiting up to three months, but the money will show up automatically. Just keep the account open and in good standing until then.
One thing to keep in mind: the bonus is considered interest by the IRS, so you'll get a 1099-INT or similar form come tax time. Don't forget to account for it when you file.
No Fees? Really?
That's right — this account has no monthly service fees. You won't be charged for talking to a teller, and online banking, mobile check deposit, and bill pay are all free. You can even turn your debit card on and off from your phone. It's a genuinely no-frills, no-fee checking account.
I also checked the fee schedule and didn't find any early account termination fee. So if you decide to close the account after the bonus posts, you shouldn't get hit with a penalty. But always double-check the fine print before closing.
A Few Things to Watch Out For
First, this offer is only for new checking accounts. If you already have one at FWCCU, you won't qualify. Also, the direct deposit must be a full direct deposit — not just an ACH transfer from another bank. Make sure your employer or payer can set that up.
Second, the offer can be canceled at any time. While it's valid as of July 1, 2026, there's no guarantee it'll last forever. If you're interested, don't drag your feet.
Finally, remember that credit union membership has eligibility requirements. If you don't already meet them, you might need to join a partner organization or pay a small fee. Factor that in when calculating your net gain.
Bottom Line
- Open a new FREE Checking account with $20 minimum deposit.
- Set up a full direct deposit of at least $1,500/month within 60 days.
- Receive $250 bonus within 90 days of account opening — no monthly fees or early termination penalties.
- Bonus is taxable; plan accordingly.
Common Questions
Can I use a transfer from another bank as a direct deposit?
No, the offer requires a full direct deposit from a payroll provider, government agency, or similar. ACH transfers from other bank accounts typically won't qualify.
Is there a minimum balance I need to maintain?
There's no minimum balance requirement beyond the $20 opening deposit. The account has no monthly fees, so you don't need to keep a certain amount to avoid charges.
Can I close the account right after getting the bonus?
There's no early account termination fee mentioned in the fee schedule, but it's wise to keep the account open for at least a few months to avoid any issues. Check the terms for any clawback policies.
Comments (0)
No comments yet. Be the first to share your thoughts!
Leave a Comment