Penfed Offering a $200 Checking Bonus Nationwide

This post may contain affiliate links; please read our advertiser disclosure for more information.

penfed Checking Bonus

Penfed Offering a $200 Checking Bonus Nationwide

Penfed is offering a $200 bonus for new checking accounts. This offer is available nationwide. You need to be a Penfed member to apply. But, all you need to join is a $5 share deposit that you get back and you end your membership. Let’s take a look at the requirements an details of this offer.

The Offer

To earn this $200 bonus, you must open an Access America Checking Account by 6/14/2020 and complete the following requirements:

  • Must receive at least $1200 in deposits in your checking account within 90 days of account opening
  • Make 5 debit card purchases in the first 90 days.

Promotion Page

Key Terms

  • Offer valid from 5/4/2020 − 6/14/2020.
  • Soft Pull
  • $10 monthly fee is waived with $500 balance of $500 monthly direct deposit
  • Only available to new personal checking members who do not have an existing checking account and qualify for an Access America Account.
  • Once the criteria is met, the bonus will be credited to the new personal checking account no later than 120 days from account opening.
  • Account must remain open, active and in good standing (no negative balance) at time bonus is distributed.
  • PenFed will issue an IRS form 1099 reporting the value of the bonus. One bonus per member.


This is an easy bonus that is available nationwide and can be done online. You just need $1200 in deposits within 90 days of account opening and 5 debit card purchases in 90 days. The account has a $10 monthly fee that is waived with $500 balance.

HT: Doctor of Credit

Based in NYC. Points/miles enthusiast for years and actively writing about it for the last two years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

More Like This


Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


  1. Can I send them a $1,200 check for the deposit?
    The use their debit card for only 5 purchases, yes.
    And no direct deposits?
    Thanks, RS


Please enter your comment!
Please enter your name here


SoFi Money $50 Bonus!

Super easy bonus! Sign-up and deposit $500 or more and they'll pay you $50! That's it!
Grab Your $50 SoFi Bonus Now!

moomoo - 2 Free Stocks!

Brokerage app moomoo is offering 2 Free Stocks! Just open an account and fund with $500 to get your stocks! Super easy.
Grab your 2 free stocks now!

Subscribe To Our Newsletter

Join thousands of MtM readers who are subscribed to receive a once daily email with all of our posts. Never miss out!

You have Successfully Subscribed!